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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 CFP Franc (XPF) is a currency used in several French overseas territories in the South Pacific, including French Polynesia, New Caledonia, and the French Southern and Antarctic Lands. It is pegged to the Euro, providing stability and facilitating trade within the region and with France.