Panamanian Balboa - PAB


The Balboa is one of the official currencies of Panama, along with the US Dollar. The name is in honor of Vasco Núñez de Balbo, who was a Spanish explorer. The Balboa is subdivided into 100 cents.


  • Panama has been experiencing economic and political difficulties in recent years. This has affected its economic growth and limited the average annual GDP to under 4%. The GDP rate could reach 6% if macroeconomic and political instability are achieved.
  • The government of Panama has poor tax revenues, which affect the budget, creating continuous deficits and limiting the public sector’s ability to fund infrastructure improvements and basic local services.
  • After the war between the United States and Afghanistan in 2001, Panama obtained financial help from the US, which has reduced the country’s international debt load.


  • Following independence in 1904, the Colombian Peso was replaced by the Panamanian Balboa as the circulating currency of the country.
  • The US Dollar, to which the Balboa is pegged, is also accepted in circulation at a fixed exchange rate of 1:1.

General Information

Symbols and Names

  • Symbols: B/.
  • Nicknames: none

ISO 4217 Code


Currency Subunits

  • Centésimo = 1/100 of a Balboa


  • Bills: none - U.S. banknotes are used
  • Coins: 1, 5 centésimos. 1⁄10, ¼, ½ balboa

Countries Using This Currency

  • Panama

Currencies Pegged To PAB :


PAB Is Pegged To: