Panama uses two currencies: US dollars and Panamanian Balboa.
Both currencies are of the same value: 1 US dollar is worth 1 Panamanian Balboa.
Most notes are in dollars while most coins are Panamanian.
Credit cards are generally accepted at most outlets within the city.
I was surprised at the large number of English speakers they are in Panama city, Spanish, however, is the primary and official language but with the increasing popularity of English, I didn't have any major challenges in communication. Outside Panama City, however, it might be almost impossible to communicate if you don't know Spanish.
Panama city is a coastal city and it's near the equator, temperatures generally range between 24-32°C with the dry season lasting between December to April and the remaining months being generally wet
Best time to visit
The weather here is friendly and you can visit at almost any time of the year. However avoid visiting in mid-February, the Carnaval is usually held around this time, I visited the city during this period and getting accommodation was really stressful.