Dollar: opening price today, March 23 in Panama

The US dollar is trading at the opening at 1 balboa on average, representing an increase of 2.31% compared to 0.98 balboa on average the previous day.

Compared to the last seven days, the US dollar has increased by 2.24%, so that in the last year it still accumulated an increase of 2.13%. Comparing this data with that of previous days, add two dates in a row of earnings. The volatility figure is 24.89%, which is clearly higher than the annual volatility figure (7.91%), showing itself as an asset with greater changes than normal.

In the annual photo, the US dollar has even changed by a high of 1 balboa on average, while its lowest level has been 0.97 balboa on average.

Panamanian

Balboa 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 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. 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 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 print 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 countries 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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Agencies