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The US dollar is trading at the opening at 7.67 quetzales on average, which represented an increase of 2.37% compared to the 7.49 quetzales on average in the previous session.
In the last seven days, the American dollar records an increase of 2.5% and in interannual terms it still accumulates a rise of 1.25%. Regarding past days, showing that it is unable to establish a trend recently. In reference to the volatility of the last week, it is 25.47%, which is a figure visibly higher than the annual volatility figure (15.57%), so it is presenting a more unstable behavior.
In the annual photo, the American dollar it has been paid at a maximum of 7.72 quetzales on average, while its lowest level has been 7.44 quetzales on average.
Guatemalan Quetzal
The quetzal is the legal currency used in Guatemala and was created when the Monetary Law enacted in 1924 was issued, when then President José María Orellana ordered the substitution of the Guatemalan peso.
The Guatemalan currency is currently divided into one hundred cents and in its beginnings it had a value of 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, thus becoming one of the 30 monetary units in Latin America and the world to be one of the most invariable.
The agency 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 bills of 1, 5, 10 circulate. , 20, 50, 100 and 200 quetzals.
In its attempts to lower the production prices of the 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, in economic matters, 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) forecasts 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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