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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 Venezuelan BolĂvar (VES) is the official currency of Venezuela, primarily used for all financial transactions within the country. It has undergone several redenominations in response to hyperinflation and economic instability, reflecting the country's ongoing economic challenges.