what is the exchange rate in Panama?Panama MoneyThe official note of exchange in Panama, is the Balboa, and is specified as B. or B/ .However, the country doesn´t print it, and instead it uses US dollars ($) as the defacto and preferred method of exchange. The coins are a different story, as they are panamenian coin sare heavily used in the following denominations: 1 centavos - 1 cent 5 centavos - 5 cents 10 centavos - 10 cents or dimes 25 centavos - 25 cents 50 centavos - 50 cents or "peso" The country should have about 40 million "one balboa" coins, in the economy, coming up around the first quarter of 2011.A couple things to be aware of here, 2 panama pesos are the equivalent of one dollar. In other latin countries like Cuba, Puerto Rico, and others they will be equivalent of one dollar. Also, The panamenian coins will be exactly about the same size as their american counterparts, you can use american coins in Panama, but you shouldn´t be using panamenian coins in the U.S
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