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Maker to Panamanian Balboa Converter and calculator

Convert 1Maker (MKR) to Panamanian Balboa (PAB) equals B/. 3,001.72 | Bitget

PAB 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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Bitget crypto-to-fiat exchange data shows that the most popular Maker currency pair is the MKR to PAB, with for Maker's currency code being MKR. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for PAB.

MKR to PAB conversion rate trend

1D7D1M3M1YAll
In the past 1D, Maker has changed +16.22% to PAB. Based on the trend and price charts, Maker(MKR) has changed +16.22% to PAB while Panamanian Balboa(PAB) has changed % to MKR in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
B/.2,972.38
0.0001% / 0.0004%vip-iconVIP
Binance
B/.2,974
0.1000% / 0.1000%
Yes
OKX
B/.2,970.4
0.080% / 0.100%
Yes
Huobi
B/.2,979.22
0.1000% / 0.1000%
Yes
Gate.io
B/.2,969.27
0.1000% / 0.1000%
Yes
Bybit
B/.2,975
0.1000% / 0.1000%
Yes
KuCoin
B/.2,972
0.1000% / 0.1000%
Yes
Bitfinex
B/.2,975.9
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 21:00:30(UTC+0)

What factors influence the conversion rate of Maker to Panamanian Balboa?

Maker to Panamanian Balboa is falling this week.
Maker's current market price is B/. 3,001.72 per MKR, with a total market cap of B/. 2,775,715,635.82 PAB based on a circulating supply of 924,709.7 MKR. The trading volume of Maker has changed by +19.47% (B/. 28,406,451.94 PAB) in the last 24 hours. Last trading day, MKR's trading volume was B/. 145,897,073.17.
Market cap
$2.78B
24h volume
$174.30M
Circulating supply
924.71K MKR

Conversion tables

The exchange rate of Maker is increasing.
1 MKR is currently valued at B/. 3,001.72 PAB , which means buying 5 MKR will cost B/. 15,008.58 PAB . Similarly, B/.1 PAB can be traded for 0.0003331 MKR, and B/.50 PAB can be converted to 0.01666 MKR, excluding any platform or gas fees.
The exchange rate of 1 MKR to Panamanian Balboa has changed by -16.78% in the last 7 days. In the last 24 hours, the rate has fluctuated by +16.22%, reaching a high of 3,003.71 PAB and a low of 2,508.44 PAB . One month ago, the value of 1 MKR was B/. 2,698.65 PAB , which represents a +11.23% change from its current value. Over the last year, Maker has changed by
+B/.
234.65PAB
, resulting in a change of +291.32% in its value.

MKR to PAB

Amount
21:19 today
0.5 MKR
B/.1,500.86
1 MKR
B/.3,001.72
5 MKR
B/.15,008.58
10 MKR
B/.30,017.16
50 MKR
B/.150,085.78
100 MKR
B/.300,171.56
500 MKR
B/.1,500,857.8
1000 MKR
B/.3,001,715.6

PAB to MKR

Amount21:19 today
0.5PAB0.0001666  MKR
1PAB0.0003331  MKR
5PAB0.001666  MKR
10PAB0.003331  MKR
50PAB0.01666  MKR
100PAB0.03331  MKR
500PAB0.1666  MKR
1000PAB0.3331  MKR
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Today vs. 24 hours ago

Amount21:19 today24 hours ago24h change
0.5 MKR$1,500.86$1,291.39
+16.22%
1 MKR$3,001.72$2,582.78
+16.22%
5 MKR$15,008.58$12,913.9
+16.22%
10 MKR$30,017.16$25,827.81
+16.22%
50 MKR$150,085.78$129,139.04
+16.22%
100 MKR$300,171.56$258,278.08
+16.22%
500 MKR$1,500,857.8$1,291,390.4
+16.22%
1000 MKR$3,001,715.6$2,582,780.8
+16.22%

Today vs. 1 month ago

Amount21:19 today1 month ago1M change
0.5 MKR$1,500.86$1,349.33
+11.23%
1 MKR$3,001.72$2,698.65
+11.23%
5 MKR$15,008.58$13,493.26
+11.23%
10 MKR$30,017.16$26,986.52
+11.23%
50 MKR$150,085.78$134,932.58
+11.23%
100 MKR$300,171.56$269,865.16
+11.23%
500 MKR$1,500,857.8$1,349,325.8
+11.23%
1000 MKR$3,001,715.6$2,698,651.6
+11.23%

Today vs. 1 year ago

Amount21:19 today1 year ago1Y change
0.5 MKR$1,500.86$383.53
+291.32%
1 MKR$3,001.72$767.07
+291.32%
5 MKR$15,008.58$3,835.34
+291.32%
10 MKR$30,017.16$7,670.67
+291.32%
50 MKR$150,085.78$38,353.37
+291.32%
100 MKR$300,171.56$76,706.74
+291.32%
500 MKR$1,500,857.8$383,533.7
+291.32%
1000 MKR$3,001,715.6$767,067.4
+291.32%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.