Question

What is the currency of Panama?

Answer 1

Answer:

THE ANSWERS IS

PANAMANIAN BALBOA

Explanation:

PANAMANIAN BALBOA IS THE CURRENCY OF PANAMA

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PLZZ MARK AS BRAINLIST

Answer 2

Answer:

Panamanian balboa

1 United States Dollar equals

75.30 Indian Rupees

Explanation:

Money in Panama. Panama's official currency is the balboa. The rate of exchange for the balboa has always been tied to the US dollar—one dollar equals one balboa. Panama does not, however, print its own paper currency and instead uses the US dollar as legal tender.

Since 1904 one Balboa equals one US Dollar and since then, the US Dollar has legally circulated in Panama. In other words, in practice, the currency used day-to-day in Panama is the US dollar, which is also legal tender. ... For paper money, only the US Dollar is used (there are no paper Balboas).The balboa is, along with the United States dollar, one of the official currencies of Panama. It is named in honor of the Spanish explorer/conquistador Vasco Núñez de Balboa. The balboa is subdivided into 100 centésimos.

Panamanian balboa

The balboa replaced the Colombian peso in 1904 following the country's independence. With the exception of a fluctuation in 2016[citation needed], the balboa has been tied to the United States dollar (which is also legal tender in Panama) at an exchange rate of 1:1 since its introduction and has always circulated alongside dollars.

Panama has never had an official central bank.[1] The National Bank of Panama, one of two government-owned banks, was responsible for nonmonetary aspects of central banking in Panama, assisted by the National Banking Commission (Superintendencia del Mercado de Valores), which was created along with the country's International Financial Center, and was charged with licensing and supervising banks