Panamanian Balboa to Paraguayan Guarani | Bank

The Panamanian Balboa (PAB) is the official currency of Panama. It has been pegged to the US dollar at a rate of 1:1 since its introduction in 1904. While Panama uses US dollar bills, they mint their own Balboa coins. The currency is named after the Spanish explorer Vasco Núñez de Balboa.

The Paraguayan Guarani (PYG) is the official currency of Paraguay. Introduced in 1943, it is named after the Guarani people, the main indigenous group of Paraguay. The currency has experienced significant inflation over the years, leading to the circulation of large denominations.