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 circulates freely: B1 = US$1.
Currency exchange: Banks and cambios are available for changing currency. There is no need to exchange US Dollars.
Credit cards: Visa and American Express are the most commonly used, but MasterCard 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:
| Date | Nov '00 | Feb '01 | May '01 | Aug '01 | | £1.00= | 1.45 | 1.46 | 1.42 | 1.45 |
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 0800-1330, Sat 0830-1200.
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