Euro: closing price today, March 22 in Panama

Last day the euro traded at the close at 1.10 balboas on average, which represented an increase of 2.26% compared to 1.08 balboas on average the previous day.

In the last week, the euro registered an increase of 2.64%, but in year-on-year terms it still continues to decline by 6.79%. If we compare the value with previous dates, it reversed the data from the previous day in which it experienced a decrease of 2.2%, showing in recent dates a lack of continuity in the result. In the last week, volatility showed a noticeably higher behavior than the volatility reflected in last year's data, so it is showing a more unstable behavior.

In the last year, 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 positioned closer to its minimum value than to the maximum.

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 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 accepted 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. 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 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 produce 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 internationally after the passage of the COVID-19 pandemic.

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