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Do the banks keep your money in American dollars? Is there any option to do that?
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All bank accounts that I have seen statements of are denominated in US dollars. However, the national currency is the balboa, which has been linked 1:1 to the dollar since Panama's independence in 1904. There are balboa coins, but all bills circulating in Panama are actual dollar bills. I'm wondering if the balboa could be unlinked from the dollar during a crisis (e.g. the dollar losing most of its value)?
Speaking of banks, a friend of mine has had only the worst of experiences with Global Bank. Lost deposits, delayed transfers, unfriendly staff, etc. A bank to stay away from.