After opening the American dollar is initially quoted at 1 balboa on averagewhich represented a change of 2.43% compared to the previous day’s data, when it stood at 0.98 balboa.
Taking into account the last week, the American dollar accumulates an increase of 2.36%%so that in the last year it still maintains an increase in 2.42%.
Analyzing this data with that of past days, the tables turn with respect to that of the previous day, in which it marked a decrease of 2.37%, showing recently a lack of continuity in the result. The volatility figure presents a behavior higher than the volatility reflected in the last year’s figures, which shows that it is going through a phase of instability.
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 projects 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.
In Panama, the legal tender is called the balboa. 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 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. Additionally, in 2010, the one balboa coin entered circulation, of which 40 million units were issued.
Panamanians did not receive this new currency well and denounced its forced use to the detriment of the US bill, so the motto was called “Martinelli”in reference to the Panamanian president Ricardo Martinelli, who promoted it.
An attempt was also made to mint 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.
