Panama: closing rate of the euro today February 21 from EUR to PAB

During the last day, the euro was traded at the close of 1.06 balboa on averagewhich represented a change of 2.52% from the price of the previous session, when it closed with 1.04 balboas on average.

Looking at last week’s data, the euro recorded an increase of 1.67%so that last year it still maintains an increase in the 1.6%.

Comparing this data with that of previous dates, it ended two consecutive sessions with a negative trend. The volatility of the last seven days is higher than the figure reached last year (22.52%), presenting itself as an asset with larger changes than the general trend indicates.

Diagnosis of the Panamanian Balboa

The Panamanian balboa is legal tender in Panama. and is abbreviated PAB; It is divided into 100 hundredths and what characterizes it is that it is not an independent currency, but rather a local version of the American dollar.

The Panamanian government issues its own currencies in cents and balboas equivalent to dollars although said coins are not legal tender in the United States . This is also not a unique case, as the Tuvaluan and Kiribati dollars have the same relationship with the Australian dollar.

This link to the US dollar occurred in 1904 after the Panama National Convention. Also, in 2010, the one balboa coin entered circulation, of which 40 million units were issued.

The reception of this currency was negative and the Panamanians denounced a forced use of it to the detriment of the American note, which is why the currency was called “Martinelli”in reference to Panamanian President Ricardo Martinelli, who promoted him.

An attempt was also made to produce two and five balboa coins, but the project was later cancelled. Currently, there are one and five hundredth coins in circulation; a tenth, a quarter and a half of a balboa, as well as a balboa.

According to the latest forecasts of the Economic Commission for Latin America and the Caribbean (Cepal), after progress made in 2022 after the crisis caused by the coronavirus pandemic, by 2023, a decline or exhaustion of the rebound effect is expected in recovery.

For this year, only 1.3% growth is expected for the region, because result of restrictive monetary policiesgreater limitations on budget spending, lower levels of consumption and investment, weak ability to contain inflation and more.

According to ECLAC forecastsMexico would grow by 1.1% by 2023.

These will be the estimated growths for these nations of South America in 2023: Argentina (1%), Bolivia (3%), Brazil (1%); Chile (-0.9); Colombia (1.9%); Ecuador (2%); Paraguay (4%); Peru (2.2%); Uruguay (3%); Venezuela (5%).

For the domain of central America we have: Costa Rica (2.8%), Cuba (1.8%); El Salvador (1.9%); Guatemala (3.3%); Haiti (0%); Honduras (3.3%); Nicaragua (2.1%); Panama (4.2%); and the Dominican Republic (4.7%).

Finally, the region of Caribbean, the following growth is expected: Antigua and Barbuda (7.8%); Bahamas (4.1%); Barbados (3.5%); Belize (2.0); Dominican (3.5%); Pomegranate (3.6%); Jamaican (3%); Saint Vincent and the Grenadines (3.7%); Saint Lucia (5.9%); Suriname (2.4%); Trinidad and Tobago (2%).