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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 Israeli New Sheqel (ILS) is the official currency of Israel, introduced in 1985 to replace the old Sheqel. It is subdivided into 100 agorot and is used for all monetary transactions within the country, playing a critical role in the Israeli economy and international trade.