The US dollar traded at the close at 7.69 quetzals on average, which was 0.05% compared to the previous day's price, which averaged 7.69 quetzals.
Compared to last week, the US dollar marked an increase of 2.29% and in year-on-year terms it still accumulated an increase of 1.72%. As for the variations of this day compared to previous days, it reversed the result of the previous day when it experienced a rise of 0.03%, proving unable to consolidate a clear trend in recent days. The volatility figure is lower than the data obtained for the last year (14.28%), so that in this last phase there is less change than expected.
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 placed closer to its value than to the minimum.
Guatemalan
quetzalThe 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 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.
Agencies
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