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If Panama spends US dollar?
If Panama, Central America spends US dollar, can I move there and leave UK for opportunities. Or is their US dollar different and it's not worth up to the American US dollar? I always wanted to travel or relocate at least. I hate UK, will go through anything to find somewhere better.
4 Answers
- 3 years ago
To permanently move to Panama you'll need to know more than just what the local currency is.
- GregLv 73 years ago
The U.S. Dollar is the U.S. Dollar. Panama uses the U.S. Dollar. There are a few other countries that have their currency pegged 1-to-1 to the dollar. Panama has some of its own coins, but they are still tied to the dollar. You cannot just relocate to Panama. You have to officially immigrate or leave every 6 months.
- Anonymous3 years ago
Usted puede, apenas cree.
- oldprofLv 73 years ago
It is the same US dollar. But understand, purchasing power parity (PPP) between the US and Panama may or may not result in lower prices in Panama.
Say, for example, you want to buy a sombrero. For that item PPP is reached when you pay $2 in Panama and $5 in the US. Which is to say a buck in Panama has more purchasing power than in the US for sombreros.
On the other hand, for a gallon of petrol you pay $8 in Panama and $4 in the US. In which case the buck in the US has more purchasing power because it takes half as many dollars to buy the same gallon of gasoline.
