What Currency Does Panama Use?
Facts last checked 9 October 2026.
Exchange rate (approximate):
1 GBP ≈ 1.3406 USD
Rates are indicative (July 2026) and change daily. Always check live rates before travelling. Rates by Exchange Rate API.
Travel Money Card
Travelling to Panama? Avoid poor airport exchange rates — a prepaid travel money card or multi-currency card usually gets you a far better deal on United States dollar spending.
What is money called in Panama?
Money in Panama is called the United States dollar — its ISO 4217 currency code is USD, and its symbol is $. The United States dollar is the official legal tender in Panama and is used for all everyday transactions — from paying for goods and services to converting money at banks and exchange bureaus. When travelling, you may also see it referred to as the Panama currency or simply money in Panama. The United States dollar is subdivided into 100 cents, though small-denomination coins may not always be in everyday circulation.
Is the United States dollar used anywhere else?
Yes — United States dollar (USD) is also used in Ecuador, El Salvador, Marshall Islands, Micronesia, Palau and 2 other countries.
Not to be confused with other dollar currencies
Several currencies carry the name “dollar”, but each one is separate, with its own code, value and issuing country. The United States dollar (USD) is the currency of Panama and other countries listed above.
| Currency | Code | Used in | 1 USD = |
|---|---|---|---|
| Eastern Caribbean dollar | XCD | Antigua and Barbuda +5 more | 2.7 |
| Australian dollar | AUD | Australia +3 more | 1.4387 |
| Bahamian dollar | BSD | Bahamas | 1 |
| Barbadian dollar | BBD | Barbados | 2 |
| Belize dollar | BZD | Belize | 2 |
| Brunei dollar | BND | Brunei | 1.2914 |
| Canadian dollar | CAD | Canada | 1.4151 |
| Fijian dollar | FJD | Fiji | 2.2374 |
| Guyanese dollar | GYD | Guyana | 209.26 |
| Jamaican dollar | JMD | Jamaica | 158.64 |
| Liberian dollar | LRD | Liberia | 181.37 |
| Namibian dollar | NAD | Namibia | 16.32 |
Practical money tips for Panama
Card payments are widely accepted in most cities, but it's still worth carrying some United States dollar in cash for smaller vendors, local transport and rural areas. Notify your bank before travelling to avoid transactions being blocked, and compare card fees — many cards charge a foreign transaction fee that a dedicated travel money card avoids.
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Panama in context
- Panama covers 75,417 km², making it the 116th largest of the 196 countries on this site.
- It shares a land border with 2 countries: Colombia, Costa Rica.
- With 4,064,780 people, Panama holds about 8.0% of the population of Central America.
- Traffic drives on the right, and calendars start the week on Monday.
- Panama is a member state of the United Nations.
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Panama currency — FAQ
What is the currency of Panama?
The currency of Panama is the United States dollar (currency code: USD, symbol: $).
What is the currency code for Panama?
The ISO 4217 currency code for the United States dollar is USD.
What is the United States dollar symbol?
The symbol for the United States dollar is $. You will see this on price tags and receipts throughout Panama.
What currency is used in Panama?
The official currency used in Panama is the United States dollar (USD).
Can I use US dollars in Panama?
Yes — the US dollar is the official currency of Panama, so you can pay in US dollars everywhere.
Is the United States dollar the only currency used in Panama?
Panama's official currency is the balboa (PAB), which is pegged 1:1 to the US dollar and circulates only as coins. US dollar banknotes are used for everyday payments, so the US dollar is what travellers handle in practice.
What is money called in Panama?
Money in Panama is called the United States dollar (USD).
Do other countries use the United States dollar?
Yes — United States dollar (USD) is also used in Ecuador, El Salvador, Marshall Islands, Micronesia, Palau and 2 other countries.
What is the Panamanian currency?
The Panamanian currency is the United States dollar (USD), the official money of Panama.
What is the currency of the Republic of Panama?
The Republic of Panama is the formal name of Panama. Its currency is the United States dollar (USD).
Is the United States dollar the same as other dollar currencies?
No. Several currencies share the word, but each is a separate currency with its own code and value. The United States dollar is USD; others include Eastern Caribbean dollar (XCD), Australian dollar (AUD), Bahamian dollar (BSD), Barbadian dollar (BBD).
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