The US dollar is trading at the opening at 1 balboa on average, which implied a rise of 2.22% compared to 0.98 balboa on average the previous day.
If we compare the data with previous days, it chains four consecutive days on the rise. In reference to the volatility of the last week, it is 21.36%, which is visibly higher than the annual volatility figure (7.39%), which indicates that it is going through a phase of instability.
In the annual photo, the US dollar has reached a maximum of 1 balboa on average, while its lowest level has been 0.97 balboa on average.
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 coins 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. 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 denounced its forced use 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 internationally after the passage of the SARS-CoV-2 pandemic.Agencies
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