Guatemala: dollar opening rate today, March 15 USD to GTQ

The US dollar is trading at the open at 7.69 quetzals, which was 0.08% compared to the previous day's figure, when it ended with 7.70 quetzals.

Compared to the last seven days, the US dollar recorded an increase of 2.18%, so that in the last year it still maintains a rise of 1.73%. In relation to previous days, he adds two dates in a row in decline. As for the volatility of the last few days, it presents a balance that is somewhat lower than the volatility reflected in last year's figures, so in this last phase it is trending less than normal.

In the annual photo, the US dollar has even changed by a high of 7.72 quetzals, while its lowest level has been 7.48 quetzals. The US dollar is placed closer to its maximum than its low.

Guatemalan

The 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 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 positive performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.

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