Panama: opening rate of the dollar today April 17 from USD to PAB

He American dollar paid today 1 balboa on averageso that it represented an imperceptible variation compared to the price of the previous session, where it ended with 1 balboa on average.

If we consider the data of the last seven days, the American dollar gets a raise 2.29%so that in the past year it still maintains a rise of 1.98%.

Analyzing this data with that of previous days, add two consecutive sessions with no defined trend. In the past week, the volatility is significantly lower than that accumulated over the past year, which shows that it has a more stable behavior than expected lately.

In Panama, the legal tender is called the balboa. and the initials PAB are used; 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 administration issues its own coins in hundredths 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.

Panamanians did not welcome this new currency and accused its forced use to the detriment of the American bill, 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%).