Panama vs. Costa Rica Currency Exchange Rate:
Again, Panama comes out ahead. If you are considering properties in Panama, you will be happy to hear that the official currency in Panama is the Balboa, which is tied directly to the U.S. dollar. The paper money (one dollar bill and up) is all U.S. currency, and there is no exchange rate. The currency in Costa Rica is the colon, and exchange rates fluctuate on a regular basis. You need to constantly change your U.S. money into colones, bring a calculator everywhere you go, and always be aware of locals trying to take advantage of you. Financial transactions of any kind are much easier if you purchase properties in Panama.
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