Panamanian balboa (PAB)

The Panamanian balboa (symbol: B/., code: PAB) is one of the official currencies of Panama, subdivided into 100 centésimos. Named after the explorer Vasco Núñez de Balboa, it was introduced in 1904 to replace the Colombian peso following independence. The balboa is pegged to the United States dollar at a strict 1:1 ratio and exists primarily as circulating coinage, while U.S. dollar banknotes serve as the primary paper currency.