The US dollar is trading at the opening at 7.69 quetzals on average, which was 0.05% of the previous day's price, which averaged 7.69 quetzals.
In relation to last week's profitability, the US dollar accumulated a rise of 2.29%, so that for a year it has still accumulated a rise of 1.72%. If we compare the figure with previous days, it reverses the value of the previous day, when it obtained an increase of 0.03%, showing recently a lack of stability in the result. The volatility of the last seven days is lower than the numbers achieved for the last year (14.28%), so it is performing more stable than normal recently.
In the last year, the US dollar has changed by a high of 7.72 quetzals on average, while its lowest level has been 7.48 quetzals on average. The US dollar is closer to its maximum than its low.
The Guatemalan currency
El 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 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.
Agencies
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
The oldest person in the world died at the age of 119
Macabre find in CDMX: they left a body bagged and tied in a taxi
The eagles of America will face Manchester City in a duel of legends. Here are the details
Why is it good to bring dogs out to know the world when they are puppies
