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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 Turkmenistan Manat (TMT) is the official currency of Turkmenistan, used for all economic transactions within the country. It was first introduced in 1993, replacing the previous currency, the Soviet Ruble, and has undergone several revaluations and changes since then to stabilize the economy.