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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 Bosnia-Herzegovina Convertible Mark (BAM) is the official currency of Bosnia and Herzegovina, introduced in 1998. It is pegged to the Euro, which helps to stabilize its value and facilitates trade within the region and with European countries.