Opening value of the dollar in Panama this March 17 of USD to PAB

After the opening of the session, the US dollar is trading at the opening at 1 balboa, representing an increase of 2.49% compared to 0.98 balboa the previous day.

Analyzing this data with that of past dates, with this value it stops the flat streak I had in the previous two days. As for the volatility of recent days, it is visibly higher than that accumulated in the last year, which shows that it shows greater changes than the general trend in value.

In the annual photo, the US dollar has reached 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 the acronym PAB is used, in addition, it is divided into 100 hundredths and what characterizes it is that it is not independent money, 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. Nor is it a unique case, since the Tuvaluan and Kiribati dollars are in the same relationship with the Australian dollar.

This link with the US dollar occurred in 1904 after the Panama National Convention. Later, 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 record two and five balboas 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 countries that has suffered the least from this rise that is affecting several countries worldwide after the passage of the SARS-CoV-2 pandemic.

We recommend:

Agencies

Compartir nota:

Guardar

Nuevo