The US dollar was paid at the close to 7.68 quetzals on average, which was up 2.17% from the previous day's value, when it closed with 7.52 quetzals on average.
In relation to the profitability of the last seven days, the US dollar marked an increase of 2.19%, so in year-on-year terms it still accumulates an increase of 1.67%. With regard to past dates, it reversed the previous day's data when it experienced a decrease of 2.16%, showing recently a lack of continuity in the results. As for the volatility of the last few days, it is significantly higher than the figure achieved for the last year (14.41%), so it shows greater changes than the general trend in value.
In the annual photo, the US dollar has even 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 positioned closer to its maximum than to its low.
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 unchanged.
The body in charge of regulating the issuance 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 favorable performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.
Agencies
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