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The Panamanian Balboa (PAB) is the official currency of Panama, named after the Spanish explorer Vasco NĂșñez de Balboa. It is pegged to the US dollar at a one-to-one exchange rate, which means that both currencies circulate freely in the country, making transactions convenient for both locals and tourists.
The Armenian Dram (AMD) is the official currency of Armenia, established in 1993 after the country gained independence from the Soviet Union. The currency is subdivided into 100 luma and is issued by the Central Bank of Armenia, playing a crucial role in the country's economy by facilitating domestic and international trade.