In the last session, the euro closed at 7.88 quetzales on average, which meant a change of 2.12% compared to the 7.72 quetzales on average the previous day.
Regarding the last seven days, the euro registers a rise of 1.92%; although in the last year it still accumulates a decrease of 11.08%. As for the changes of this day with respect to previous days, it chained three consecutive dates in positive. The volatility of the last seven days was slightly lower than that accumulated in the last year, appearing as a value with fewer changes than expected recently.
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 stable.
The body in charge of regulating the creation of the currency is the Bank of Guatemala and today there are coins of 5, 10, 25 and 50 cents of quetzal and 1 quetzal, 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 positive performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.
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