In 9th grade writing to 3 sentences How does the value of a Panamánian balboa compare to that of a U.S. dollar, and why is this so? Write your answer in English.
The value of a Panamanian balboa is fixed at a 1:1 exchange rate with the United States dollar. This is because Panama does not have its own currency and has been using the US dollar as its official currency since 1904. Thus, the value of the balboa is directly tied to the value of the US dollar, making them equal in worth.
