Panamanian Balboa united states dollar history for May 2023. The highest quote for this month is 1.0241 (31/05/2023) and the lowest 1.0252 (24/05/2023). The difference between high and low is -0.11.
PAB USD average rate for May 2023 is 1.01966, the change between 01/05/2023 and 31/05/2023 is +0.26 %.
| 15 May 2023 | 1 PAB = 1.027 USD |
| 17 May 2023 | 1 PAB = 1.024 USD |
| 21 May 2023 | 1 PAB = 1.000 USD |
| 24 May 2023 | 1 PAB = 1.024 USD |
| 31 May 2023 | 1 PAB = 1.024 USD |
01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes
Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.
31/03/1983: Currency Control Law Implemented
Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.
15/10/1941: First Issue of Panamanian Balboa Banknotes
The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.
01/10/1941: Introduction of the Balboa as Legal Tender
The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.
01/10/1908: Creation of Panamanian Currency Board
The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.
01/01/1907: Use of US Dollar in Panama
The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.
18/11/1904: Panama Canal Construction Begins
The construction of the Panama Canal started, which would later lead to the need for a national currency.