Balboa (currency)
Named in honor of
Spanish explorer Vasco Nuņez de Balboa, the
Balboa is the official
currency of
Panama. Its
ISO 4217 code is
PAB. It has been tied to the
U.S. dollar (which is
legal tender in Panama) at an
exchange rate of 1:1 since
1903, and Balboas can be exchanged for U.S. dollars in Panama at any time at a 1:1 ratio. The balboa is divided into 100
centesimos; modern 1, 5, 10, 25, and 50 centesimo coins are the same weight, dimensions, and metallic composition as the U.S.
penny,
nickel,
dime,
quarter, and
half-dollar respectively.
External links
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