The euro traded at the close at 8.46 quetzals on average, representing an increase of 1.71% compared to the value of the previous day, when it ended with 8.31 quetzals on average.
Over the past seven days, the euro has accumulated a 2.06% increase, although, on the contrary, in year-on-year terms it still accumulates a decrease of 8.38%. In relation to the variations of this day compared to past days, he chained four successive dates in positive values. As for the volatility of the last few days, it was 15.27%, which is higher than the annual volatility figure (12.19%), so it is showing a more unstable behavior.
In the annual photo, the euro has even changed by a high of 8.80 quetzals on average, while its lowest level has been 8.17 quetzals on average. The euro is positioned closer to its low than its maximum.
The Guatemalan currency
El 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 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 costs of producing 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 favorable performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.
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Agencies