The official currency is the Panamanian Balboa (PAB), equal to 100 centesimos, but the US Dollar is accepted everywhere at a rate of B1 = US$1. Balboa are available only in coin denominations. The only paper currency used is US dollars. It is easy to exchange currency and travellers cheques in Panama at banks, exchange shops, hotels and the airport. Avoid the black market. The best rates are offered at the larger banks. Old, creased and dirty foreign notes may be refused for exchange. Most major credit cards, American Express, Visa, MasterCard and Diners club, are widely accepted. There are about 300 ATMs in Panama City. Banks are usually open from 8am to 1.30pm on weekdays.
Currency Exchange Rates
|Panama||PAB 1||PAB 5||PAB 10||PAB 100||PAB 1,000|
|Australia||A$ 0.96||A$ 4.78||A$ 9.56||A$ 95.63||A$ 956.27|
|Canada||C$ 1.01||C$ 5.03||C$ 10.06||C$ 100.58||C$ 1,005.81|
|Ireland||€ 0.78||€ 3.89||€ 7.78||€ 77.81||€ 778.12|
|New Zealand||NZ$ 1.24||NZ$ 6.21||NZ$ 12.41||NZ$ 124.14||NZ$ 1,241.38|
|South Africa||R 8.33||R 41.64||R 83.29||R 832.87||R 8,328.74|
|United Kingdom||£ 0.64||£ 3.22||£ 6.43||£ 64.34||£ 643.39|
|United States of America||US$ 0.98||US$ 4.92||US$ 9.85||US$ 98.48||US$ 984.83|
Note: These currency exchange rates are not updated daily and should be used as a guideline only.
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