Panama: closing rate of the euro today February 28 from EUR to PAB

He euro was traded at the close of 1.06 balboa on averageso that it represented a variation of 2.34% compared to the 1.03 balboas on average the day before.

If we consider the data of the last seven days, the euro recorded an increase of 1.85%; but year-over-year, it still racks up a decline 1.28%.

In Panama, the legal tender is called the balboa. 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 American dollar.

The Panamanian government issues its own currencies in cents and balboas equivalent to dollars although these currencies are not accepted in the United States . This is not the only case, since 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.

Panamanians did not welcome this new currency and denounced its forced use to the detriment of the American note, which is why the currency was called “Martinelli”in reference to Panamanian President Ricardo Martinelli, who promoted it.

An attempt was also made to mint 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.

The latest forecast made by the Economic Commission for Latin America and the Caribbean (Cepal) at the end of last year, 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%).