He American dollar is initially quoted at 1 balboa on averageso that it implied a change of 2.9% when compared to the 0.97 balboa of the previous day.
In reference to the profitability of the last seven days, the American dollar accumulates a promotion of 2.38% and in interannual terms it still maintains an increase of 2.54%.
In relation to the variations of this day compared to past days, it is difficult to dictate a clear direction given the existing fluctuations. The volatility for the last week is 29.63%, which is a figure clearly higher than the annual volatility figure (20.75%), which indicates that the value is experiencing greater changes 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, 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 an independent currency, but a local version of the US dollar.
The Panamanian administration issues its own currencies in hundredths and balboas equivalent to dollars although these currencies are not accepted in the United States . This is not a unique case either, since the Tuvaluan and Kiribati dollar 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 accused a forced use of it to the detriment of the US bill, so the motto was called “Martinelli”in reference to 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. Currently 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.
