Accommodation tends to be more expensive in Panama than in other parts of Central America; a hotel room that might cost US$6 in Nicaragua or Guatemala might cost US$10 here.
July 1, 2006 (Press Release) --
Money Advice
Accommodation tends to be more expensive in Panama than in other parts of Central America; a hotel room that might cost US$6 in Nicaragua or Guatemala might cost US$10 here. If you're traveling on a budget, you'll pay at least US$15 per day for a room and three meals. A moderate budget will be in the range of US$20-30 a day.
Panama uses the US dollar as its currency. The official name for it is the balboa, but it's exactly the same bill. Panamanian coins are of the same value, size and metal as US coins; both are used. In most of Central America, US dollars are the only currency exchanged. In Panama City, however, you can exchange currencies from almost anywhere in the world at a casa de cambio, due to the city's large international offshore banking industry.
You can tip some small change, or around 10% of the bill if you're feeling affluent, in fancier restaurants; in small cafes and more casual places, tipping is not necessary. Haggling over prices is not the general custom in Panama.
Currency
US dollar (known as 'balboa')
Relative Costs
Meals
Budget: US$2-5
Mid-range: US$5-10
Top-end: US$10+
Lodging
Budget: US$7-16
Mid-range: US$16-20
Top-end: US$20+
Source: http://www.yahoo.com
Accommodation tends to be more expensive in Panama than in other parts of Central America; a hotel room that might cost US$6 in Nicaragua or Guatemala might cost US$10 here. If you're traveling on a budget, you'll pay at least US$15 per day for a room and three meals. A moderate budget will be in the range of US$20-30 a day.
Panama uses the US dollar as its currency. The official name for it is the balboa, but it's exactly the same bill. Panamanian coins are of the same value, size and metal as US coins; both are used. In most of Central America, US dollars are the only currency exchanged. In Panama City, however, you can exchange currencies from almost anywhere in the world at a casa de cambio, due to the city's large international offshore banking industry.
You can tip some small change, or around 10% of the bill if you're feeling affluent, in fancier restaurants; in small cafes and more casual places, tipping is not necessary. Haggling over prices is not the general custom in Panama.
Currency
US dollar (known as 'balboa')
Relative Costs
Meals
Budget: US$2-5
Mid-range: US$5-10
Top-end: US$10+
Lodging
Budget: US$7-16
Mid-range: US$16-20
Top-end: US$20+
Source: http://www.yahoo.com
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