In the last session the euro was negotiated at closing 1.05 balboas on averagewhich represented a change of 1.25% compared to the 1.04 balboas of the previous session.
Taking into account the last week, the euro marks a rise in 2.02%; Despite this, in the last year it still accumulates a decrease in 2.03%.
In relation to the changes of this day compared to previous days, there were two successive sessions on the rise. The volatility referring to the last week was clearly higher than that accumulated in the last year, which indicates that the value experiences greater variations than the general trend.
The Economic Commission for Latin America and the Caribbean positioned Panama as one of the countries with the highest economic growth in the region and predicts that the country’s economy will grow 4.2 percent.
Factors such as the electoral period, the drought in the main artificial lakes, unemployment and the increase in interest rates of the Federal Reserve (Fed) are some of the scenarios that will influence the economic situation in Panama.
Copper mining exports represent between 3 and 4 percent of the national economy and given the suspension, the growth outlook for this year is between 1.5 and 2%, for this reason an increase in rates is expected to be recorded. unemployment and informal employment.
The Panamanian balboa is the legal tender in Panama and the acronym PAB is used; It is divided into 100 cents and what characterizes it is that it is not independent money, but a local version of the US dollar.
The Panamanian government issues its own currencies in hundredths and balboas equivalent to dollars although these currencies are not legal tender in the United States . This is not the only case, since the Tuvaluan and Kiribati dollars have the same relationship with the Australian dollar.
This link with the US dollar occurred in 1904 after the National Convention of Panama. Later, in 2010, the one balboa coin entered circulation, of which 40 million units were issued.
The reception of this currency was negative and Panamanians denounced a forced use of it to the detriment of the American bill, so the motto was called “Martinelli”in reference to the Panamanian president Ricardo Martinelli, who promoted it.
An attempt was also made to engrave coins of two and five balboas, but the project was later cancelled. Today there are coins of one and five hundredths in circulation; a tenth, a quarter and a half of a balboa, as well as one balboa.
