Opening value of the euro in Guatemala this March 15 of EUR to GTQ

The euro is paid at the opening to 8.44 quetzals, which meant a rise of 0.29% compared to 8.41 quetzals in the previous day.

Compared to the last seven days, the euro recorded an increase of 2.95%, although, on the contrary, for a year it has still accumulated a decline of 8.4%. Analyzing this data with that of previous days, add six consecutive dates of rise. In reference to the volatility of the last week, it is manifestly lower than that accumulated in the last year, so that in this last phase it is experiencing fewer changes than usual.

In the annual photo, the euro has even changed by a high of 8.80 quetzals, while its lowest level has been 8.17 quetzals. The euro is closer to its minimum value than to the maximum.

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 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 lower the production prices of coins, the administration 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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Agencies