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Last day the US dollar traded at the close at 7.70 quetzals, which represented a rise of 2.42% compared to the previous day's figure, when it traded at 7.51 quetzals.
Taking into account last week, the US dollar marked an increase of 2.28%, so that in year-on-year terms it still accumulates a rise of 1.74%. Compared to previous days, the direction of the previous result changed, when a decrease of 2.44% was recorded, showing that it is unable to establish a trend in recent dates. In the last week, volatility showed a visibly higher return than the volatility reflected in last year's data, which shows that it is showing a more unstable behavior.
In the last year, the US dollar has been paid at a high of 7.72 quetzals, while its lowest level has been 7.48 quetzals. The US dollar is placed closer to its maximum than its low.
Guatemalan
quetzalThe quetzal is the legal tender used in Guatemala and was founded upon the issuance of the Monetary Law enacted in 1924, 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 creation 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