Euro: opening price today January 13 in Panama

This year the euro has reached maximums of more than 1,000 balboas per unit.  (Infobae)
This year the euro has reached maximums of more than 1,000 balboas per unit. (Infobae)

The euro it is paid at the start of sessions to 1.09 balboas on averagewhich implied a change of 3.72% compared to the price of the previous day, when it ended with 1.05 balboas on average.

Taking into account the last week, the euro record an increase of 2.44%so that in the last year it still maintains an increase in the 2.95%.

Analyzing this data with that of previous days, it accumulates four successive dates of positive numbers. Regarding the volatility of the last few days, it is 37.26%, which is a notably higher figure than the annual volatility data (21.98%), which indicates that it is presenting a more unstable behavior.

Diagnosis of the Panamanian balboa

The Panamanian balboa is the legal tender in Panama and is abbreviated PAB; It is divided into 100 cents and what characterizes it is that it is not independent money, but a local version of the US 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 . It is not the only case, since the Tuvaluan and Kiribati dollar have the same relationship with the Australian dollar.

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

Panamanians did not receive this new currency well and denounced its forced use to the detriment of the US bill, for which reason the currency was called “Martinelli”in reference to the Panamanian president Ricardo Martinelli, who promoted it.

An attempt was also made to print coins of two and five balboas, but the project was later cancelled. Currently there are coins of one and five hundredths in circulation; a tenth, a quarter and a half of a balboa, as well as the one 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 setback or exhaustion of the rebound effect is expected in recovery.

For this year, only 1.3% growth is expected for the region, as result of restrictive monetary policiesgreater limitations on fiscal spending, lower levels of consumption and investment, little capacity to contain inflation and more.

According to ECLAC forecastsMexico would have a growth of 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 area 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%).

As regards 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%); Grenada (3.6%); Jamaican (3%); Saint Vincent and the Grenadines (3.7%); Saint Lucia (5.9%); Suriname (2.4%); Trinidad and Tobago (2%).

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