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Monday, November 28, 2022

Euro: closing price today 28 March in Panama

In the last session, the euro pay at closing 1.10 balboas averagewhich represents 0.02% compared to the 1.10 balboas average the previous day.

With regard to the last seven days, the euro indicates an increase 1.81%; On the contrary, in year-on-year terms it still maintains a decrease in 8.2%. Compared to previous days, it has chained three consecutive dates of positive numbers. The volatility referring to the past week is visibly higher than the figure achieved for the past year (8.55%), so it offers greater changes than the general trend of value.

In the annual photo is the euro it changed on average at a maximum of 1.14 balboas, while its lowest level averaged 1.06 balboas. The euro it is positioned closer to its minimum than its maximum.

dollar style

The Balboa is the legal tender in Panama and it is abbreviated PAB, in addition it is divided into 100 hundredths and what is characteristic is that it is not an independent currency but a local version of the US dollar. The Panamanian administration issues its own coins in cents and balboas equivalent to dollars although these currencies are not legal tender in the United States. This is also not a unique case, as the Tuvaluan and Kiribati dollars have the same ratio to the Australian dollar. This link with the US dollar took place in 1904 after the National Convention of Panama. Later, in 2010, the one balboa coin came into circulation, of which 40 million units were issued. The receipt of this currency was negative and the Panamanians accused a forced use of it to the detriment of the US bill, for which the currency was called “Martinelli”, referring to Panamanian President Ricardo Martinelli, who promoted it. Attempts were also made to engrave two and five balboa coins, but the project was later canceled. Currently there are 1 and 5 cent coins in circulation; a tenth, a quarter and a half of a balboa, as well as a balboa. By economic fieldThe International Monetary Fund (IMF) estimates that Panama, the Dominican Republic and Central America will grow by 4.5% in 2022, after registering a growth of 9.2% in 2021. Between January and December 2021, Panama has a inflation of 1.6%, while the interannual variation stood at 2.6%, according to data from the National Institute of Statistics and Census (INEC), which places it in one of the nations that suffered the least from this increase which is making several countries worldwide complex following the course of the COVID-19 pandemic.

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