In the last session, the euro traded at the close of 8.46 quetzals on average, which represented a rise of 2.05% compared to 8.29 quetzals on average in the previous day.
If we consider the data for the last seven days, the euro marks an increase of 2.81%; however, in year-on-year terms it still maintains a decline of 8.3%. If we compare the data with past dates, the direction of the previous result changed, which resulted in a decrease of 0.36%, being unable to consolidate a clear trend in recent days. As for the volatility of the last days, it was 13.47%, which is higher than the annual volatility figure (12.22%), so it shows greater changes than the general trend in value.
In the last year, the euro has 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 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 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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