Balboa is the basic unit of currency of Panama. The currency ISO code of Balboa is PAB.
Balboa has a fixed exchange rate pegged to the US dollar.
Since Panama signed the monetary convention in 1904 with the United States, the Balboa is pegged to the USD at PAB 1 to USD 1. Funds are regulated by the US Federal Reserve Board and the authorities of Panama. The Balboa is also an ""invisible"" currency and the legal tender is the USD.