Historic Panamanian Balboa Nigerian Naira

Panamanian Balboa nigerian naira history for February 2024. The highest quote for this month is 1667.96 (29/02/2024) and the lowest 1642.13 (23/02/2024). The difference between high and low is 1.55.

PAB NGN average rate for February 2024 is 1496.73704, the change between 01/02/2024 and 29/02/2024 is -36.57 %.

01 February 20241 PAB = 1224.39 NGN
02 February 20241 PAB = 1220.54 NGN
03 February 20241 PAB = 1413.12 NGN
04 February 20241 PAB = 1413.12 NGN
05 February 20241 PAB = 1208.91 NGN
06 February 20241 PAB = 1431.79 NGN
07 February 20241 PAB = 1440.05 NGN
08 February 20241 PAB = 1451.05 NGN
09 February 20241 PAB = 1436.00 NGN
12 February 20241 PAB = 1510.33 NGN
13 February 20241 PAB = 1538.85 NGN
14 February 20241 PAB = 1551.02 NGN
15 February 20241 PAB = 1552.20 NGN
16 February 20241 PAB = 1553.44 NGN
17 February 20241 PAB = 1492.73 NGN
18 February 20241 PAB = 1492.73 NGN
19 February 20241 PAB = 1528.62 NGN
20 February 20241 PAB = 1528.98 NGN
21 February 20241 PAB = 1643.70 NGN
22 February 20241 PAB = 1644.64 NGN
23 February 20241 PAB = 1643.69 NGN
24 February 20241 PAB = 1488.40 NGN
25 February 20241 PAB = 1488.40 NGN
26 February 20241 PAB = 1645.91 NGN
27 February 20241 PAB = 1580.71 NGN
28 February 20241 PAB = 1616.38 NGN
29 February 20241 PAB = 1672.20 NGN

20/03/2020: Impact of COVID-19 Pandemic

The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.

20/06/2016: Adoption of Flexible Exchange Rate Policy

The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.

01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes

Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.

29/05/1999: Transition to Democratic Governance

Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.

12/06/1993: Introduction of the Third Nigerian Naira

The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.

31/12/1984: Implementation of the Structural Adjustment Program

The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.

31/03/1983: Currency Control Law Implemented

Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.

01/07/1979: Adoption of the Second Nigerian Naira

The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.

01/07/1973: Introduction of decimal currency

The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.

15/10/1941: First Issue of Panamanian Balboa Banknotes

The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.

01/10/1941: Introduction of the Balboa as Legal Tender

The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.

01/10/1908: Creation of Panamanian Currency Board

The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.

01/01/1907: Use of US Dollar in Panama

The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.

18/11/1904: Panama Canal Construction Begins

The construction of the Panama Canal started, which would later lead to the need for a national currency.
PAB NGN July 2023
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PAB NGN January 2024
PAB NGN February 2024
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