panamanian monetary unit (Meaning)
Wordnet
panamanian monetary unit (n)
monetary unit in Panama
Synonyms & Antonyms of panamanian monetary unit
No Synonyms and anytonyms found
panamanian monetary unit Sentence Examples
- The Panamanian monetary unit is the Balboa, named after Spanish explorer Vasco Núñez de Balboa.
- One Balboa is equivalent in value to one United States dollar.
- Panamanians commonly use the term "dollar" to refer to both the Balboa and the US dollar interchangeably.
- The Panamanian monetary unit has been pegged to the US dollar since 1904.
- Banknotes and coins denominated in Balboas are used alongside US dollar banknotes and coins in Panama.
- Despite having its own monetary unit, Panama has relied heavily on the US dollar for its economy.
- The Panamanian government issues Balboa coins in various denominations, including 1, 5, 10, 25, and 50 centésimos.
- Balboa banknotes are issued by the National Bank of Panama and are less commonly circulated compared to US dollar banknotes.
- While the Panamanian monetary unit is the official currency, the US dollar remains the dominant currency in everyday transactions.
- The stability of the Panamanian monetary unit is crucial for maintaining economic confidence in the country.
FAQs About the word panamanian monetary unit
monetary unit in Panama
No synonyms found.
No antonyms found.
The Panamanian monetary unit is the Balboa, named after Spanish explorer Vasco Núñez de Balboa.
One Balboa is equivalent in value to one United States dollar.
Panamanians commonly use the term "dollar" to refer to both the Balboa and the US dollar interchangeably.
The Panamanian monetary unit has been pegged to the US dollar since 1904.
