Dollar: closing price today July 27 in Guatemala

The American dollar quoted at closing at 7.73 quetzals on averageso that it represented a change of 2.58% when compared to the 7.54 quetzales on average in the previous session.

Taking into account the last week, the American dollar records a rise in 2.49%so that for a year it still accumulates an increase in 2.21%. In relation to previous days, he added two consecutive dates in green. In the last week, the volatility is slightly lower than the data obtained for the last year (17.34%), showing itself as a value with fewer changes than recently expected.

Guatemalan Quetzal

The quetzal is the legal currency used in Guatemala and was founded when the Monetary Law enacted in 1924 was issued, when the then president José María Orellana ordered the substitution of the Guatemalan peso.

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 production 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 his attempts to reduce production costs Of the 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, 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 keep up the positive performance driven in part by foreign trade, remittances from the United States and a considerable drop in inflation.

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