Euro closing value in Panama on August 27 from EUR to PAB

he euro Negotiated at closing 1.12 balboa on averageWhich represents a change of 3.11% compared to 1.09 balboas the previous day.

Regarding the profitability of the past seven days, euro Register for promotion 2.52%% And last year it still accumulates an increase of 4.26%.

Comparing this data with the data of the past days, it reflected the result of the previous session, as it ended down by 2.87%, showing its inability to determine the direction of late. Referring to the volatility of the past week, it was clearly higher than that accumulated in the past year, so it presents a more unstable behavior.

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. The abbreviation PAB is used; 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 government 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 the only 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 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. Currently, there are coins in circulation in denominations of one, five-tenth, quarter, and half balboa, as well as one balboa.