Market price of Euro to EUR to PAB in Panama on March 17

The euro was trading at the opening of the 1.12 Balboa, which signaled a 3.85% increase compared to the 1.08 Balboa the previous day.

Taking into account the data for the last 7 days, the euro has risen 3.57%, but on the contrary, it still maintains a 5.47% decline in the previous year.Comparing this data with data from past dates, the two-day negative march ends. Since last week's volatility is clearly higher than the figure achieved last year (8.61%), its value undergoes a greater change than the general trend.

In the

annual photo, the euro was paid at a maximum of 1.14 balboa, and the lowest level was 1.06 balboa. The euro is closer to its value than the lowest.

The

dollar-style

balboa is a legal tender in Panama, the abbreviation PAB is used, it is also divided into hundredths and is characterized by being not an independent currency, but a local version of the US dollar.

The Panamanian government issues its own coins at a hundredth of its own and issues a balboa equivalent to the dollar, but these currencies are not accepted in the United States.This is not a unique case because the Tuvaluan and Kiribati dollar have the same relationship with the Australian dollar.

This connection with the US dollar occurred in 1904 after the Panama National Convention. Since 2010, Balboa coins have been in circulation, of which 40 million units have been issued.

The receipt of this currency was negative, and the Panamanian criticized its forced use to harm American banknotes, so they called the currency “Martinelli” in relation to Panama President Ricardo Martinelli, who promoted it.

There were also attempts to print two and five Balboa coins, but later the project was canceled. Today, one and a half hundred coins are in circulation. There are tenths, quarters, halves of balboas and one balboa.

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

Between January and December 2021, Panama accumulated 1.6% inflation, and the year-over-year fluctuation was 2.6%, according to data from the National Institute for Statistical Census (INEC). This rise has placed it in one of the countries that suffered the least; several countries around the world after the SARS-CoV-2 pandemic has passed.

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