Opening value of the euro in Panama on March 21 from EUR to PAB

After the opening of the trading session, the euro is trading at the open at 1.11 balboas on average, representing an increase of 0.93% compared to the previous day's figure, when it scored 1.10 balboas on average.

Compared to last week, the euro registered an increase of 4.22%, although, on the contrary, in year-on-year terms it still maintains a decline of 6.17%. In relation to past days, he accumulates five consecutive sessions of earnings. In reference to the volatility of the last week, it is clearly higher than that accumulated in the last year, so it is showing a more unstable behavior.

In the annual photo, the euro has reached a maximum of 1.14 balboas on average, while its lowest level has been 1.06 balboas on average. The euro is closer to its maximum than its minimum.

Panamanian

Balboa 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. 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 nations that has suffered the least from this rise that is affecting several countries worldwide after the passage of the COVID-19 pandemic.

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