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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 Peruvian Sol (PEN) is the official currency of Peru, introduced in 1991 to replace the previous currency, the inti. It is issued by the Central Reserve Bank of Peru and is subdivided into 100 céntimos, functioning as a medium of exchange for goods and services within the country.