Panamaian Balboa
About Panamaian Balboa
The Panamanian balboa is pegged at par with the US dollar. US dollar bills circulate alongside Panamanian balboa coins. Panama has no central bank and uses the US dollar as its official currency. The balboa exists mainly as coins, with no balboa banknotes issued since the 1940s. The arrangement gives Panama the stability of the US dollar without a formal dollarization agreement. Named after Vasco Nunez de Balboa, the European discoverer of the Pacific Ocean.
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