What is the currency of Panama?
Panama's official currency is the balboa (PAB), but in practice the US dollar circulates alongside it and is used for nearly all banknote transactions.
Panama Currency – Banknotes, Coins and History
Explore Panama currency, including coins and banknotes available in this catalog.
Overview
Panama Currency Overview
CurrencyHub contains banknotes and coins from Panama, helping collectors browse the public catalog by denomination, year, and series.
On CurrencyHub you can explore Panama banknotes, coins, historical issues, commemorative items, series, and denomination groupings in one place.
Catalog facts
- Country
- Panama
- Banknotes
- 0
- Coins
- 2
- First year
- 1966
- Latest year
- 1976
- Currencies
- Balboa
- Denominations
- 0
- Series
- 0
- Commemorative items
- 0
Featured banknotes from Panama
No featured banknotes are available for this country yet.
Banknote denominations in the catalog
No banknote denominations are available for this country yet.
Years represented in this catalog
No banknote years are available for this country yet.
Series
No series data is available for this country yet.
Frequently Asked Questions About Panama Currency
Does Panama print its own banknotes?
Panama does not print its own balboa banknotes; instead, US dollar bills are used directly as Panama's paper currency, while Panama mints its own balboa coins that are interchangeable with US coins.
Why does Panama use the US dollar alongside the balboa?
Panama adopted the US dollar as legal tender in 1904 under a monetary agreement tied to the construction of the Panama Canal, and this arrangement has continued ever since.
What is the exchange rate between the balboa and the US dollar?
The balboa has always been pegged at a fixed 1:1 rate with the US dollar.