The official currency is the Panamanian Balboa (PAB), equal to 100 centesimos, but the US Dollar is accepted everywhere. 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
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