PAB · PAB
Panamanian Balboa (PAB)
The Panamanian balboa (PAB) is the official currency of Panama, pegged 1:1 to the US dollar. It exists mainly as coins, with US banknotes used for paper currency.
Convert this currency
Converted amount
1.0000 USD
Exchange rate
1 PAB = 1.000000 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
PAB · Panamanian Balboa
Panamanian Balboa (PAB) Currency Overview
The Panamanian balboa (PAB) is the national currency of Panama, introduced in 1904 following the country's independence. It is pegged at par with the United States dollar (USD), meaning 1 PAB equals 1 USD. This fixed exchange rate has been a cornerstone of Panama's monetary stability, facilitating international trade and investment.
In practice, Panama uses US dollar banknotes for all paper currency transactions, while the balboa is issued only in coin form. These coins are minted in denominations that mirror US coins, such as 1, 5, 10, 25, and 50 centésimos, as well as a 1 balboa coin. This dual-currency system simplifies cross-border commerce and tourism, as US dollars are widely accepted throughout the country.
The balboa's stability is underpinned by Panama's dollarized economy, which has helped control inflation and maintain confidence among investors. However, the country does not have an independent central bank to conduct monetary policy, relying instead on the US Federal Reserve's decisions. This arrangement has contributed to Panama's economic growth but also ties its monetary conditions to US economic cycles.
- Code
- PAB
- Symbol
- PAB
- Current rate
- USD / PAB
Currency information
Last updated · 8/7/2026
Introduced in 1904, replacing the Colombian peso.
- Official name
- Balboa
- Legal tender status
- Legal tender in Panama
- Decimal places
- 2
- Minor unit
- Céntésimo · 1 PAB = 100 Céntésimo
- Countries
- Panama
- Issuing authority
- Banco Nacional de Panamá
- Central bank
- Banco Nacional de Panamá · Official website
- Exchange-rate regime
- Fixed exchange rate, pegged to the US dollar at 1:1.
Common banknotes
1 balboa · 2 balboas · 5 balboas · 10 balboas · 20 balboas · 50 balboas · 100 balboas
Common coins
1 céntésimo · 5 céntésimos · 10 céntésimos · 25 céntésimos · 50 céntésimos · 1 balboa
Also known as
Balboa · Panamanian Balboa · PAB · B/.
Practical notes
- The balboa is only issued as coins; US dollar banknotes are used for paper currency.
- The balboa is pegged to the US dollar at a 1:1 ratio.
Priority currency pairs
The most useful conversions for this currency.
Panamanian Balboa questions
What is the PAB exchange rate?
The displayed rate is the latest available reference rate for USD/PAB. It can change throughout the day.
How can I convert PAB online?
Use the converter above to calculate indicative amounts between PAB and the other supported currencies.