Panama Money Question!!!?

Question

I have to do a report on Panama.

And I need to know the "unit of money" I tried looking it up on google but it doesnt explain good enough.

If I were to go to Panama with 1 US dollar, and I traded it in, how much would they give me in Panama money? Which I know is called Balboa.

Haha.

Please help fast!

Answer 1

Panama takes currency too.just put that on your report.

Answer 2

Panama's currency, the Balboa, is pegged exactly to the U.S. dollar.  1 Balboa = 1 USD always (unless the government were to change this policy).  Panama does not print its own paper money, they use the exact same bills you find in the United States.  They do make their own coins however, which are the same size and denominations of U.S. coins.  Both U.S. coins and Panama coins circulate along with the U.S. paper bills.

Answer 3

This site will convert dollars to any currency out there in the world. http://www.xe.com/ucc/full.php

Answer 4

Panama uses our money also. The balboas are only coins which are the same amounts as ours. They us US paper money for their everyday currency. So to answer your question 25 centavos = 25 cents.

Answer 5

Panama calls their monetary system balboas but it is the same denominations as in U.S. You don't have to exchange money.