Reference rates today
| Currency | 1 USD = | 1 unit = USD |
|---|---|---|
| Colombian peso (COP) | 3,256.24 COP | 0.00031 |
| Costa Rican colón (CRC) | 453.63 CRC | 0.00220 |
| Euro (EUR) | 0.8773 EUR | 1.1399 |
| Mexican peso (MXN) | 17.6711 MXN | 0.0566 |
| Venezuelan bolívar (VES) | 857.01 VES | 0.00117 |
| Brazilian real (BRL) | 5.1843 BRL | 0.1929 |
| Pound sterling (GBP) | 0.7554 GBP | 1.3239 |
| Canadian dollar (CAD) | 1.4133 CAD | 0.7076 |
| Dominican peso (DOP) | 59.5098 DOP | 0.0168 |
| Guatemalan quetzal (GTQ) | 7.6356 GTQ | 0.1310 |
| Chinese yuan (CNY) | 6.7246 CNY | 0.1487 |
| Argentine peso (ARS) | 1,523.97 ARS | 0.00066 |
Live data, updated September 26, 2026, 15:58 (Panama time).
Source: Open Exchange Rates API (open.er-api.com), daily reference mid-market rates. Banks and exchange houses apply their own spread.
Why Panama has no exchange rate
The Monetary Agreement of 1904 adopted the dollar as legal tender and pegged the balboa at par. Panama has no central bank and issues no banknotes of its own, so it cannot devalue or print money. That dollarisation is one of the reasons investors from Colombia, Venezuela, Argentina and other countries with volatile currencies choose Panama to save, buy property or open a company.
Who these rates matter to
| Profile | What they look at |
|---|---|
| Colombian or Costa Rican investor | How many pesos or colones are needed to buy in dollars in Panama |
| Resident sending remittances | How much the family receives in local currency |
| Company importing from Europe or China | Dollar cost of invoices in euros or yuan |
| European or Canadian tourist | What the trip costs in their currency |
Where to exchange currency in Panama
- Banks: exchange the main currencies for account holders, with a spread over the reference rate.
- Exchange houses: at Tocumen airport and in commercial areas. Higher spread, no account needed.
- ATMs: foreign cards withdraw dollars directly; the issuing bank handles the conversion.
Frequently asked questions
What is the dollar worth in Panama?
A dollar is worth a dollar. Panama uses the US dollar as legal tender and the balboa is pegged at par (1 balboa = 1 dollar).
Can you pay in euros or pesos in Panama?
Not in general. Shops and services charge in dollars. Foreign currencies must be exchanged at banks or exchange houses.
Are the rates on this page the ones the bank applies?
No. They are market reference rates. Banks and exchange houses apply their own spread, usually between 1% and 5% depending on the currency and channel.
Related articles
- Opening a bank account in Panama from abroad
- Investing from Puerto Rico in Panama
- How Panama’s economy works
Sources
- Monetary Agreement between Panama and the United States of 1904; Law 6 of 1904
- Open Exchange Rates API (reference rates)
- Superintendency of Banks of Panama