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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 Papua New Guinean Kina (PGK) is the official currency of Papua New Guinea, introduced in 1975 to replace the Australian dollar. It is subdivided into 100 toea, and its name reflects the rich cultural heritage of the country, with 'kina' derived from a local shell used as currency in the past.