Panamanian Balboa
a.k.a. PAB
Panama's official currency, fixed one-to-one with the US dollar, which is what people actually use for notes.
In plain English
Panama's official currency, fixed one-to-one with the US dollar, which is what people actually use for notes.
The Panamanian balboa (PAB) is Panama's currency on paper, but in daily life the US dollar does almost all the work. The balboa is pegged one-to-one with the dollar, and Panama issues its own coins while using American banknotes. It is a form of dollarization: Panama effectively borrowed America's money and, with it, America's interest rates.
Keep this word for good
Your free Private Swap Lounge saves the terms you’ve learned and quizzes you on them. Portal under construction. Expected delivery date is December 01, 2026.