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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 Mexican Peso (MXN) is the official currency of Mexico, symbolized by '$' or 'MXN' to differentiate it from other currencies using the same symbol. It serves as a medium of exchange for goods and services within the country and plays a vital role in the Mexican economy, facilitating trade and investment both domestically and internationally.