Panama: opening price of the euro today 23 March from EUR to PAB

The euro is trading at the opening at 1.11 balboas on average, representing a rise of 2.68% compared to the previous day, when it closed with 1.08 balboas on average.

Taking into account last week, the euro recorded a rise of 2.86%; despite this in the last year it still accumulated a decrease of 6.35%. Analyzing this data with that of previous days, it accumulates two successive dates in positive figures. The volatility for the last week is significantly higher than that accumulated in the last year, so it shows greater changes than the general trend in value.

In the annual photo, the euro has even changed by 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 maximum than its low.

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 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 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 record two and five balboas 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 internationally after the passage of the COVID-19 pandemic.

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