Panama Travel Guide

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Shopping

Panama is a duty-free haven and luxury goods from all over the world can be bought at a saving of at least one-third. Local items include leatherware, patterned, beaded necklaces made by Guaymí Indians, native costumes, jewels and precious stones, straw products, electrical equipment, handicrafts of carved wood, ceramics, papier mâché artifacts, macramé and mahogany bowls.

Shopping hours: Mon-Sat 0900-2000. Some supermarkets are open 24-hours.

Currency

Balboa (PAB; symbol B/.) = 100 centavos. There is no Panamanian paper currency; coins exist in denominations of B/.10 and 1, and 50, 25, 10, 5 and 1 centavos. US currency was adopted in 1904 and exists alongside the Balboa coinage: B/.1 = US$1.

US Dollar (US$) = 100 cents. Notes are in denominations of US$100, 50, 20, 10, 5, 2 and 1. Coins are in denominations of US$1, and 50, 25, 10, 5 and 1 cents.

Currency Exchange

Banks and cambios are available for changing currency. There is no need to exchange US Dollars.

Credit Cards, Debit Cards, and ATMs

MasterCard and Visa are the most commonly used, but American Express and Diners Club are also accepted.

Travelers Checks

To avoid additional exchange rate charges, visitors are advised to take traveler's checks in US Dollars.

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 upon arrival.

Banking Hours

Mon-Fri 0800-1500, Sat 0830-1200.

Exchange Rate