PAB (Panamanian Balboa)

DEFINITION of 'PAB (Panamanian Balboa)'

The currency abbreviation or currency symbol for the Panamanian balboa (PAB), the currency of Panama. The Panamanian balboa is made up of 100 centesimo and is often represented by the symbol B/. or B. The Panamanian balboa is a currency made up completely of coins. The United States dollar (USD) banknotes are the only paper currency in circulation.

BREAKING DOWN 'PAB (Panamanian Balboa)'

The Panamanian balboa replaced the Columbian peso shortly after the country claimed independence in 1904. Since this time, the balboa has been on a fixed peg with the USD at par.