Panama: closing price of the dollar today, March 15 of USD to PAB

On the last day, the US dollar was paid at the close to 1 balboa, representing an increase of 2.49% compared to 0.98 balboa the previous day.

Compared to the last seven days, the US dollar accumulated a rise of 2.31% and in year-on-year terms it still maintains a rise of 2.11%. Regarding previous dates,, showing itself unable to consolidate a clear trend in recent dates. As for the volatility of the last dates, it presented a balance that is visibly higher than the volatility reflected in the last year's data, therefore it is showing a more unstable behavior.

In the annual photo, the US dollar has even changed by a high of 1 balboa, while its lowest level has been 0.97 balboa.

Dollar-style

The balboa is the legal tender in Panama and PAB is abbreviated, 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 government issues its own coins in hundredths and balboas equivalent to dollars, although these currencies are not accepted 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. There are currently 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 nations that has suffered the least from this rise that is affecting several countries worldwide after the passage of the SARS-CoV-2 pandemic.

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Agencies