Closing value of the euro in Guatemala this March 16 from EUR to GTQ

The euro traded at the close at 8.48 quetzals, up 2.32% compared to the previous day's value, when it stood at 8.29 quetzals.

In the last week, the euro registered a rise of 2.7%; but for a year it has still accumulated a decline of 7.95%. Compared to previous dates, it turned the tables on the previous day, in which a decrease of 1.38% was recorded, without being able to establish a stable trend recently. The volatility figure was clearly higher than that accumulated in the last year, so it shows greater alterations than the general trend in value.

In the annual photo, the euro was paid at a maximum of 8.80 quetzals, while its lowest level was 8.17 quetzals. The euro is positioned closer to its low than its maximum.

The quetzal is the legal tender used in Guatemala and was founded 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 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 costs 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 positive performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.

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