Balboa (currency) - Definition

Named in honor of Spanish explorer/conquistador Vasco Núñez de Balboa, the balboa is the official currency of Panama. Its ISO 4217 code is PAB.

The balboa 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 centésimos; modern 1, 5, 10, 25, and 50 centésimo coins are the same weight, dimensions, and metallic composition as the U.S. penny, nickel, dime, quarter, and half-dollar respectively.

External links

• Panama's Currency (http://www.bruce.ruiz.net/Currency/panama_currency_index.htm)
• Banking in Panama (http://www.panaconsul.com/pages/banking.htm)