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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 Ugandan Shilling (UGX) is the official currency of Uganda, introduced in 1987 to replace the Uganda pound. It is subdivided into 100 cents and is issued by the Bank of Uganda, which plays a crucial role in managing the country's monetary policy and ensuring the stability of the currency.