Panama The Panamanian Balboa (PAB) is the official currency of Panama, alongside the United States Dollar (USD). Introduced in 1904, the balboa replaced the Colombian Peso when Panama gained independence. The PAB is pegged to the USD at a 1:1 exchange rate, and Panama does not issue its own paper currency—U.S. Dollar banknotes circulate freely. However, the country does issue balboa coins, which are used interchangeably with U.S. coins. Named after the Spanish explorer Vasco Núñez de Balboa, the currency is subdivided into 100 centésimos. Due to its dollarized economy, Panama benefits from monetary stability and low inflation.
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.
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