Convert Israeli New Sheqel to Panamanian Balboa
Please provide values below to convert Israeli New Sheqel [ILS] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Israeli New Sheqel.
How to Convert Israeli New Sheqel to Panamanian Balboa
1 ILS = 3.345 PAB
Example: convert 15 ILS to PAB:
15 ILS = 15 × 3.345 PAB = 50.175 PAB
Israeli New Sheqel to Panamanian Balboa Conversion Table
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Israeli New Sheqel
The Israeli New Sheqel (ILS) is the official currency of Israel, used for everyday transactions and economic activities within the country.
History/Origin
The Israeli New Sheqel was introduced in 1985, replacing the old Sheqel at a rate of 1,000 old Sheqels to 1 New Sheqel, as part of economic reforms to stabilize the Israeli economy.
Current Use
Today, the ILS is widely used in Israel for all financial transactions, including banking, commerce, and government operations, and is also accepted in some Palestinian territories.
Panamanian Balboa
The Panamanian Balboa (PAB) is the official currency of Panama, subdivided into 100 centésimos, used primarily for coinage alongside the US dollar.
History/Origin
Introduced in 1904, the Balboa was established as Panama's official currency to promote national identity, initially backed by gold, but since 1941 it has been pegged at par to the US dollar, which is also widely accepted in the country.
Current Use
Today, the Balboa is mainly used for coinage and official transactions within Panama, with the US dollar serving as the primary currency for most practical purposes, including banking and commerce.