After the opening of the trading session, the euro is trading at the open at 8.47 quetzals on average, which implied a 2.11% increase compared to the previous day's figure of 8.29 quetzals on average.
In the last week, the euro registered an increase of 2.87%; although in the last year it still has a decline of 8.25%. As for the changes of this day compared to previous days, it reverses the result of the previous day, where it marked a decrease of 0.36%, without being able to set a stable trend in recent days. With reference to the volatility of the last week, it shows a higher behavior than the volatility shown in the last year's figures, indicating that the value underwent greater changes than the general trend.
In the annual photo, the euro has reached a maximum of 8.80 quetzals on average, while its lowest level has been 8.17 quetzals on average. The euro is placed closer to its minimum value than to the maximum.
Guatemalan
quetzalThe 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 lower the production prices of 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 positive performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.
Agencies
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