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The currency of Panama is the Balboa, with one Balboa equalling 100 centavos. Notes do not exist in Balboas. Coins are in denominations of B10 and 1, as well as 50, 25, 10, 5 and 1 centavos, US Dollars are used widely through Panama, and $1 equals B1. Money can only be exchanged at local banks and bureau de changes, though there is no need to convert US Dollars. Traveller’s cheques are not widely accepted, and they should be in US Dollars. ATMs are not widespread but are available, and major international credit and debit cards are accepted in most larger hotels and restaurants, as well as some shops. See: Visa: http://www.visa.com/atms/ MasterCard: http://www.mastercard.com/cardholderservices/atm/ The import and export of both domestic and foreign currency is unrestricted, though amounts of over $10,000 must be declared on entry. Business: General banking hours in most areas are from 0800 to 1500 Mondays to Fridays, and from 0830 to 1200 on Saturdays. Normal shopping hours are usually from 0800 to 1900 Mondays to Saturdays, and from 1000 to 1900 on Sundays. Casual business attire is expected of business meetings, along with a welcoming handshake. It is not uncommon for people to be late for meetings, so try not to be too offended! A tip of ten to fifteen percent is customary in hotels and restaurants, and taxi drivers do not expect to be tipped.
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