Panamanian Balboa to Euro | Bank

The Panamanian Balboa (PAB) is the official currency of Panama. It has been pegged to the US dollar at a rate of 1:1 since its introduction in 1904. While Panama uses US dollar bills, they mint their own Balboa coins. The currency is named after the Spanish explorer Vasco Núñez de Balboa.

The Euro (EUR) is the official currency of the Eurozone, which includes 20 of the 27 European Union (EU) member states. It is one of the world's most widely used and traded currencies, managed by the European Central Bank (ECB) and the Eurosystem. The Euro was introduced in 1999 for electronic transactions and officially replaced national currencies in 2002. It is known for its stability and influence in global financial markets.