South African Rand to Panamanian Balboa | Black Market

The South African Rand (ZAR) is the official currency of South Africa. It was introduced in 1961 when it replaced the South African pound. The Rand is also legal tender in the Common Monetary Area between South Africa, Eswatini, Lesotho, and Namibia.

The Panamanian Balboa (PAB) is the official currency of Panama. It has been pegged to the US dollar at a rate of 1:1 since its introduction in 1904. While Panama uses US dollar bills, they mint their own Balboa coins. The currency is named after the Spanish explorer Vasco Núñez de Balboa.