Guatemala: closing price of the dollar today, March 15 of USD to GTQ

In the last session, the US dollar traded at 7.69 quetzals at the close, up 2.37% from the previous day's price, when it traded at 7.51 quetzals.

Taking into account last week, the US dollar registered an increase of 2.18% and for a year it has still maintained a rise of 1.73%. In relation to the variations of this day with respect to past days, proving unable to establish a definite trend in recent days. The volatility for the last week is clearly higher than the data achieved for the last year (14.43%), showing itself as an asset with greater variations than usual.

In the last year, the US dollar has been paid at a high of 7.72 quetzals, while its lowest level has been 7.48 quetzals. The US dollar is positioned closer to its value than to the minimum.

Guatemalan

The quetzal is the legal tender used in Guatemala and was founded upon the issuance of the Monetary Law enacted in 1924, 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 unchanged.

The body in charge of regulating the creation 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 lower 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 favorable performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.

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