Euro: closing price today, March 16 in Panama

The euro was paid at the close at 1.10 balboas, which represented a rise of 2.52% compared to the previous day's figure, when it stood at 1.08 balboas.

Compared to last week, the euro recorded an increase of 2.9%; however, in the last year it still accumulated a 6.45% decline. As for the changes of this day compared to previous days, it reversed the price of the previous day, where it obtained a decrease of 2.41%, showing that it is not able to consolidate a trend recently. The volatility figure was notoriously higher than that accumulated in the last year, presenting itself as an asset with greater changes than usual.

In the annual photo, the euro changed by a high of 1.14 balboas, while its lowest level was 1.06 balboas. The euro is positioned closer to its maximum than its low.

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

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