The US dollar traded at the close at 7.70 quetzals, representing 0.05% compared to the previous day's figure, when it ended with 7.70 quetzals.
Taking into account last week, the US dollar posted an increase of 2.46%, so for a year it has still maintained a rise of 1.84%. Compared to previous dates, it reversed the data of the previous day in which it experienced a rise of 2.36%, being unable to consolidate a clear trend lately. In reference to the volatility of the last week, it is somewhat lower than the numbers achieved for the last year (14.25%), showing itself as a value with fewer changes than indicated by the general trend in recent dates.
In the annual photo, the US dollar has reached a high of 7.72 quetzals, while its lowest level has been 7.48 quetzals. The US dollar is positioned closer to its maximum than to its low.
The Guatemalan currency
El quetzal is the legal tender used in Guatemala and was created when the Monetary Law enacted in 1924 was issued, when then-President José María Orellana ordered the replacement of the Guatemalan peso.
The Guatemalan currency is currently divided into one hundred cents and was initially worth 10 cents above the US dollar until in 1980 it fell to par, recovering months later.
Currently, the quetzal is equivalent to 7.50 units per US dollar and 9.25 units per euro, making it one of the 30 monetary units in Ibero-America and the world to be one of the most stable.
The body in charge of regulating the production of the currency is the Bank of Guatemala, and today coins of 5, 10, 25 and 50 cents of quetzal and 1 quetzal are known, while 1, 5, 10, 20, 50, 100 and 200 quetzals circulate in banknotes.
In its attempts to reduce the production prices of coins, the government has sought to introduce coins with different materials such as opting for steel instead of nickel or brass-plated steel.
According to official figures, the Guatemalan government has assured that the Gross Domestic Product (GDP) grew by 7.5% at the end of 2021, a growth not seen for 40 years.
On the other hand, the International Monetary Fund (IMF) expects that by 2022 the Guatemalan economy will continue with a positive performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.
Agencies
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