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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 Colombian Peso (COP) is the official currency of Colombia, established as the country's legal tender in 1821. It is represented by the symbol '$' and is subdivided into 100 centavos. The Colombian Peso plays a crucial role in the country's economy, facilitating trade, investment, and everyday transactions among its citizens and businesses.