Panamanian Balboa · B/. · Official currency of Panama
The Panamanian balboa (B/.) is named after explorer Vasco Núñez de Balboa, and was introduced in 1904 through a monetary agreement with the United States. It has been pegged 1:1 to the US dollar from the very start.
Panama only mints its own balboa coins and does not print its own banknotes. The paper currency actually used in circulation is genuine US dollar banknotes issued by the United States, not by Panama. That's why tapping 'View real banknote photos' links to US dollar banknote information rather than a Panama-specific design — this isn't an error, it's simply because Panama has no banknotes of its own.
Since Panama effectively uses the US dollar, you can bring dollars straight from home without worrying about exchange rates or currency conversion. Coins are a mix of Panama's own balboa-denominated coins and US coins circulating side by side, and both are used interchangeably at the same value. Small shops sometimes hesitate to break large bills ($50, $100), so it's worth carrying smaller denominations.
Since Panama has no banknotes of its own, you can view the actual notes used via the US dollar's official page.
See Panamanian Balboa banknotes at today's exchange rate →