Euro: closing price today, March 14 in Panama

On the last day the euro traded at the close at 1.09 balboas, which meant a decrease of 0.81% compared to the previous day's value of 1.10 balboas.

Taking into account the last seven days, the euro marked an increase of 3.09%; on the other hand, in year-on-year terms it still retains a decline of 7.04%. As for the changes of this day compared to previous days, with this figure he interrupted the positive streak that he marked in the previous four days. The volatility for the last week was clearly higher than that accumulated in the last year, indicating that it is showing a more unstable behavior.

In the annual photo, the euro was paid at a maximum of 1.14 balboas, while its lowest level was 1.06 balboas. The euro is closer to its minimum than its maximum.

Dollar-style

The balboa is the legal tender in Panama and the acronym PAB is used, in addition, it is divided into 100 hundredths and what characterizes it is that it is not an independent currency, but a local version of the US dollar.

The Panamanian administration issues its own coins in hundredths and balboas equivalent to dollars, although these currencies are not legal tender in the United States. This is not the only case, since the Tuvaluan and Kiribatian dollars are in the same relationship with the Australian dollar.

This link with the US dollar occurred in 1904 after the Panama National Convention. In addition, in 2010, the coin of a balboa came into circulation, of which 40 million units were issued.

The receipt of this currency was negative and Panamanians accused the forced use of it to the detriment of the US banknote, so the currency was called “Martinelli”, in reference to Panamanian President Ricardo Martinelli, who promoted it.

Attempts were also made to mint two- and five-balboa coins, but the project was later canceled. Today there are coins of 1 and 5 hundredths in circulation; a tenth, a quarter and a half of balboa, as well as the one balboa.

In the economic field, the International Monetary Fund (IMF) estimates that in 2022 Panama, the Dominican Republic and Central America will grow by 4.5%, after registering 9.2% growth in 2021.

Between January and December 2021, Panama accumulated inflation of 1.6%, while the year-on-year variation stood at 2.6%, according to data from the National Institute of Statistics and Census (INEC), which places it in one of the countries that has suffered the least from this rise that is affecting several countries internationally after the passage of the coronavirus pandemic.

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