Information & Facts
The official language is Spanish. However, many
Panamanians speak both Spanish and English.
The official currency is the Panamanian Balboa (PAB), equal to
100 centesimos, but the US Dollar is accepted everywhere at a rate
of B1 = US$1. Balboa are available only in coin denominations. The
only paper currency used is US dollars. It is easy to exchange
currency and travellers cheques in Panama at banks, exchange shops,
hotels and the airport. Avoid the black market. The best rates are
offered at the larger banks. Old, creased and dirty foreign notes
may be refused for exchange. Most major credit cards, American
Express, Visa, MasterCard and Diners club, are widely accepted.
There are about 300 ATMs in Panama City. Banks are usually open
from 8am to 1.30pm on weekdays.
Local time is GMT -5.