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| Country Guide > Central America > Panama |
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Money Currency Balboa (B) = 100 centavos. There is no Panamanian paper currency; coins exist in denominations of B10 and 1, and 50, 25, 10, 5 and 1 centavos. US currency was adopted in 1904 and exists alongside the Balboa coinage: B1 = US$1. Currency exchange Banks and cambios are available for changing currency. There is no need to exchange US Dollars. Credit cards MasterCard and Visa are the most commonly used, but American Express and Diners Club are also accepted. Check with your credit or debit card company for details of merchant acceptability and other services which may be available. Travellers cheques To avoid additional exchange rate charges, visitors are advised to take travellers cheques in US Dollars. Exchange rate indicators The following figures are included as a guide to the movements of the Balboa against Sterling:
Currency restrictions There are no restrictions on the import and export of either foreign or local currency. However, amounts of over US$10,000 must be declared to immigration upon arrival. Banking hours Mon-Fri 0800-1500, Sat 0830-1200. |