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Balboa (currency)

Named in honor of Spanish explorer Vasco Nuņez de Balboa, the Balboa is the official currency of Panama. Its ISO 4217 code is PAB. It has been tied to the U.S. dollar (which is legal tender in Panama) at an exchange rate of 1:1 since 1903, and Balboas can be exchanged for U.S. dollars in Panama at any time at a 1:1 ratio. The balboa is divided into 100 centesimos; modern 1, 5, 10, 25, and 50 centesimo coins are the same weight, dimensions, and metallic composition as the U.S. penny, nickel, dime, quarter, and half-dollar respectively.

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