Euro: opening price today, March 22 in Panama

The euro is trading at the opening at 1.12 balboas on average, so it implied a rise of 3.64% compared to the previous day's figure, when it scored 1.08 balboas on average.

With reference to the profitability of the last seven days, the euro recorded an increase of 4.02%; but in year-on-year terms it still accumulates a decline of 5.54%. If we compare the value with previous days, the direction of the previous result changes, when a decrease of 2.2% was recorded, recently showing a lack of stability in the results. The volatility figure presents a balance that is clearly higher than the volatility reflected in the last year's data, so it is going through a phase of instability.

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 closer to its value than to the minimum.

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. 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 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 nations that has suffered the least from this rise that is affecting several countries internationally after the passage of the coronavirus pandemic.

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