Euro: Closing price today August 26 in Panama

On the last day euro Quoted from the conclusion 1.12 balboa on averageindicating a change of 0.22% compared to the figure from the previous session, when it closed at 1.12 balboa.

Regarding last week’s profitability, euro Records an increase in 2.88%% On an annual basis, it still maintains an increase in 4%.

Comparing this data to data from previous dates, there is a noticeable fluctuation in the value of this asset. The volatility figure is higher than the figures achieved last year (14.16%), so it represents larger changes than the general trend in value.

The Economic Commission for Latin America and the Caribbean has ranked Panama as one of the countries with the highest economic growth rate in the region, and expects the country’s economy to grow by 4.2 percent.

Factors such as the electoral period, drought in the main artificial lakes, unemployment, and increasing interest rates of the Federal Reserve (Fed) are some of the scenarios that will affect the economic situation in Panama.

Copper mining exports account for between 3 and 4 percent of the national economy, and given the suspension, growth forecasts for this year range between 1.5 and 2 percent, which is why unemployment and informal employment are expected to rise.

The Panamanian Balboa is the legal tender in Panama. It is abbreviated as PAB; it is divided into 100 cents and what distinguishes it is that it is not an independent currency, but a local version of the US dollar.

The Panamanian administration issues its own currency in hundreds and Balboa is equivalent to the dollar although these coins are not legal tender in the United States. This is not a unique case either, 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 National Congress of Panama. In addition, in 2010, the one balboa coin entered circulation, with 40 million units issued.

The reception of this currency was negative and the Panamanians were accused of forcibly using it at the expense of the American banknote, so The logo was called “Martinelli”.Referring 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. Today, there are coins in circulation in denominations of one and five hundredths; one-tenth, one-quarter and one-half balboa, in addition to the one balboa.