The History of The Panamanian Balboa
The balboa replaced the Colombian peso in 1904 following the country's independence. The balboa has been tied to the United States dollar (which is legal tender in Panama) at an exchange rate of 1:1 since its introduction and has always circulated alongside dollars.
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“It is remarkable how closely the history of the apple tree is connected with that of man.”
—Henry David Thoreau (1817–1862)