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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 Canadian Dollar (CAD) is the official currency of Canada, represented by the symbol '$' and the code 'CAD'. It is subdivided into 100 cents and is one of the most traded currencies in the world, often regarded as a commodity currency due to Canada's rich natural resources.