why in the world would the currency of panama be the us dollar.?

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why in the world would the currency of panama be the us dollar.?

2007-09-09 11:08:46 · 3 answers · asked by CHRIS S 2 in Politics & Government ➔ Other - Politics & Government

3 answers

The currency in Panama is the Balboa. It is tied to the American dollar. The US dollars are accepted as legal tender as well. "Tied to" simply means a one for one exchange. Other countries will accept US dollars, for instance Canada but they have varing exchange rates. They produce their own currency but there is no need to exchange US dollars in Panama.

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2007-09-10 01:01:15 · answer #1 · answered by Jacob W 7 · 0⤊ 0⤋

thats simple,panama is a u.s territory. or haven't ya heard of the panama canal.

2007-09-09 11:56:23 · answer #2 · answered by yankeegray_99 5 · 0⤊ 0⤋

STABILITY!

2007-09-09 13:21:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋