He American dollar is quoted at the beginning of the day 1 balboa on averagewhich implied a change of 2.34% compared to the 0.98 balboa of the previous day.
Taking into account the last seven days, the American dollar marks slight changes; On the other hand, in interannual terms, it still maintains an increase in 2.42%.
As for the variations of this day with respect to past days, it chains three successive dates in green. The volatility figure is higher than the data obtained for the last year (20.58%), showing itself as an asset with greater variations than expected.
The Economic Commission for Latin America and the Caribbean has positioned Panama as one of the countries with the highest economic growth in the region and projects that the country’s economy will grow by 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 is abbreviated PAB; 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 government issues its own currencies in hundredths and Balboas are equivalent to dollars, although these currencies are not accepted in the United States. . It 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.
Panamanians did not receive this new currency well and accused its forced use 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 mint 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.
