The US dollar is paid at the opening at 1 balboa on average, which implied a rise of 2.34% compared to the previous day's value of 0.98 balboa on average.
If we consider last week's data, the US dollar marks a rise of 2.22%, so in the last year it still accumulates an increase of 2.13%. Compared to previous days,, showing in recent days a lack of continuity in the result. Volatility for the last week shows a clearly higher performance than the volatility reflected in the last year's data, therefore it shows greater variations than the general trend in value.
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 the acronym PAB is used, 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. 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 countries that has suffered the least from this rise that is affecting several countries worldwide after the passage of the SARS-CoV-2 pandemic.Agencies
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