The official currency is the Panamanian Balboa (PAB), equal to 100 centesimos, but the US Dollar is accepted everywhere at a rate of PAB 1 = US$1. Balboa are available only in coin denominations. The only paper currency used is US dollars. It is easy to exchange currency 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 numerous ATMs in Panama City.
Currency Exchange Rates
|Panama||PAB 1||PAB 5||PAB 10||PAB 100||PAB 1,000|
|Australia||AUD 1.35||AUD 6.73||AUD 13.47||AUD 134.66||AUD 1,346.60|
|Canada||CAD 1.33||CAD 6.67||CAD 13.33||CAD 133.34||CAD 1,333.40|
|Ireland||EUR 0.91||EUR 4.55||EUR 9.11||EUR 91.05||EUR 910.50|
|New Zealand||NZD 1.47||NZD 7.37||NZD 14.74||NZD 147.44||NZD 1,474.40|
|South Africa||ZAR 15.36||ZAR 76.79||ZAR 153.59||ZAR 1,535.88||ZAR 15,358.80|
|United Kingdom||GBP 0.70||GBP 3.52||GBP 7.04||GBP 70.41||GBP 704.10|
|United States of America||USD 1.00||USD 5.00||USD 10.00||USD 100.00||USD 1,000.00|
Note: These currency exchange rates are not updated daily and should be used as a guideline only.
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