ALGX to PAB Converter and calculator


Conversion rates
Convert ALGX to PAB
Convert PAB to ALGX
ALGX to PAB chart
ALGX to PAB conversion data: Volatility and price changes of Algodex Token in PAB
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 0.{4}3408 PAB | 0.{4}3832 PAB | 0.{4}4907 PAB | 0.{4}5886 PAB |
Low | 0.{4}3288 PAB | 0.{4}3028 PAB | 0.{4}3028 PAB | 0.{4}2911 PAB |
Average | 0 PAB | 0 PAB | 0 PAB | 0 PAB |
Volatility | % | % | % | % |
Change | +3.54% | -6.51% | -29.60% | +15.50% |
Algodex Token information
ALGX to PAB market statistics
Current ALGX to PAB exchange rate
Algodex Token to Panamanian Balboa is falling this week.More info about Algodex Token on Bitget
Panamanian Balboa information
About Panamanian Balboa (PAB)
The Panamanian Balboa (PAB), introduced in 1904, stands as a unique symbol of Panama's economic history and its close ties with the global economy. It is commonly abbreviated as PAB and represented by the symbol B/. Named after the Spanish explorer Vasco Núñez de Balboa, the currency reflects Panama's strategic role as a global trade hub and its historical linkages with the United States.
Historical Background
The adoption of the Balboa marked a significant chapter in Panama’s financial history, coinciding with the country's independence from Colombia and the beginning of the Panama Canal construction. The Balboa was pegged to the US Dollar at par from its inception, reflecting the economic and political relationship between Panama and the United States, a connection that has remained pivotal to Panama’s monetary policy.
Design and Symbolism
The design of the Panamanian Balboa features iconic national symbols, historical figures, and landmarks that narrate Panama’s rich cultural heritage. Coins bear the image of Vasco Núñez de Balboa, honoring the explorer who influenced Panama's early history. These designs are more than just transactional tools; they resonate with national pride and historical awareness.
Economic Role
As Panama does not issue its own paper currency and uses the US Dollar for all paper money transactions, the Balboa exists primarily in coinage. This unique monetary system underpins Panama's service-based economy, which includes finance, tourism, and the famous Panama Canal. The Balboa’s stability, thanks to its peg to the US Dollar, is crucial for the country’s financial system and economic activities.
Monetary Policy and Stability
The monetary arrangement of using the US Dollar alongside the Balboa coins ensures economic stability, but it also means Panama does not have its own independent monetary policy. This system provides stability and confidence, attracting foreign investment, particularly in the banking and service sectors.
International Trade and the Panamanian Balboa
Given Panama's strategic location and the significance of the Panama Canal, the stability of the Balboa (and its parity with the US Dollar) is crucial in international trade. This stability facilitates the country’s role as a global logistics and trade hub.
Remittances and Economic Impact
Remittances play a significant role in Panama’s economy, with inflows from Panamanians working abroad, especially in the United States. These remittances, converted into Balboas and Dollars, support household incomes and contribute to economic stability.
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ALGX to PAB Conversion tables
Amount | 11:01 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 ALGX | B/.0 | B/.-0.{6}5818 | +3.54% |
1 ALGX | B/.0 | B/.-0.{5}1164 | +3.54% |
5 ALGX | B/.0 | B/.-0.{5}5818 | +3.54% |
10 ALGX | B/.0 | B/.-0.{4}1164 | +3.54% |
50 ALGX | B/.0 | B/.-0.{4}5818 | +3.54% |
100 ALGX | B/.0 | B/.-0.0001164 | +3.54% |
500 ALGX | B/.0 | B/.-0.0005818 | +3.54% |
1000 ALGX | B/.0 | B/.-0.001164 | +3.54% |
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