AED to PAB

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

• The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
• Natural gas and petroleum exports play an important role in the economy.
• The service sector is also an important source of income.
• Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
• The United Arab Emirates is part of the World Trade Organization.
• Imports are machinery, manufactured goods, and transport equipment.
• In 2009, 85% of exports were natural resources.
• The United Arab Emirates has the fastest-growing economy in the world.

History

• The original currency in the United Arab Emirates was the Bahraini Dinar.
• Before 1966 the United Arab Emirates used the Gulf Rupee.
• The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
• From 1973 to 1982 the United Arab Emirates issued the Dirham.
• In 1976 the United Arab Emirates minted commemorative coins.
• In the late 1980s a fixed rate was established between the Dirham and the USD.
• 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
• In 1997 the Dirham was pegged to the US Dollar.

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PAB - Panamanian Balboa (B/.)

Panamanian Balboa

The Balboa is one of the official currencies of Panama, along with the US Dollar. The name is in honor of Vasco Núñez de Balbo, who was a Spanish explorer. The Balboa is subdivided into 100 cents.

The Panamanian Balboa is the currency in Panama (PA, PAN). The symbol for PAB can be written B. The Panamanian Balboa is divided into 100 centesimos. The exchange rate for the Panamanian Balboa was last updated on May 24, 2019 from Yahoo Finance. The PAB conversion factor has 2 significant digits.

Economy

• Panama has been experiencing economic and political difficulties in recent years. This has affected its economic growth and limited the average annual GDP to under 4%. The GDP rate could reach 6% if macroeconomic and political instability are achieved.
• The government of Panama has poor tax revenues, which affect the budget, creating continuous deficits and limiting the public sector’s ability to fund infrastructure improvements and basic local services.
• After the war between the United States and Afghanistan in 2001, Panama obtained financial help from the US, which has reduced the country’s international debt load.

History

• Following independence in 1904, the Colombian Peso was replaced by the Panamanian Balboa as the circulating currency of the country.
• The US Dollar, to which the Balboa is pegged, is also accepted in circulation at a fixed exchange rate of 1:1.

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