Guatemala: dollar opening rate today, March 22 USD to GTQ

At the beginning of the day, the US dollar was trading at the opening at 7.68 quetzals on average, which represented an increase of 2.17% compared to the previous day's price, when it scored 7.52 quetzals on average.

With reference to the profitability of the last seven days, the US dollar registered an increase of 2.19% and for a year it has still maintained an increase of 1.67%. In relation to the changes of this day compared to previous dates, the meaning of the previous result changes, when it ended up with a decrease of 2.16%, showing that it is unable to establish a clear trend in recent dates. In the last week, volatility is 23.75%, which is visibly higher than the annual volatility figure (14.41%), so it is going through a phase of instability.

In the annual photo, the US dollar has reached a maximum of 7.72 quetzals on average, while its lowest level has been 7.48 quetzals on average. The US dollar is closer to its maximum than its low.

Guatemalan

The 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 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.

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