Currency Rates for Guatemala
Bank Exchange Rates for Guatemala - GTQ - Guatemalan quetzal – Q. The foreign exchange rates for Guatemala also known as the ISO code GTQ or the Guatemalan quetzal currency and as a symbol Q.
The Guatemalan quetzal (pronounced ‘Ketzal’) is named after the quetzal bird, whose tail feathers used to be used in place of currency in ancient Mayan culture. 1 quetzal subdivides into 100 centavos, known as ‘lenes’ in Guatemalan slang.
The Guatemalan Quetzal is Guatemalas currency, which was named after the resplendent quetzal (the national bird of Guatemala). During the culture of ancient Mayan, the quetzal bird's tail feathers were used as currency.
The quetzal currency was introduced in the year 1925 during President JosÃ© MarÃa Orellanas term, whose image is seen on the obverse side of the one-quetzal bill. The currency replaced the peso and until 1987, the quetzal was pegged to be domestically equal to the US dollar and right before the pegging to the United State dollar, it was again pegged to the French franc currency as well since the quetzal currency made good use of the gold standard.
The currency is divided into 100 lenes in Guatemalan slang or into 100 cents. The plural form of Quetzal is â€quetzales.
The Guatemalan quetzal coins
In 1925, quetzal coins in the denominations of 1, 5, 10 centavos 1/4, 1/2 and 1 were introduced, but the most of the 1 quetzal coins were banned from circulation and melted.
In 1932, 1/2 and 2 centavos coins were added. Until 1965, 5 centavos coins and above were minted in 72 percent silver. Coins of 1/2 and 1 quetzal were re-introduced in the year 1998 and 1999, respectively.
The coins that are currently in circulation are:
- 1 quetzal
- 1 centavo
- 5 centavos
- 50 centavos
The Guatemala Quetzal Banknotes
The Central Bank of Guatemala issued the first banknotes in the denominations of 1, 2, 5, 10, 20 and 100 quetzals, together with the 1/2 quetzal notes that were added in the year 1933.
In the year 1946, the issuance of paper money was taken over by the Bank of Guatemala, because of the issues concerning the Central Bank overprints of notes. With an Exception for the introduction of the 50 quetzal notes in the year 1967, whereby the denominations of the banknotes were unchanged until replacements took place of the 1/2 and 1 quetzal coins with notes at the end of the 1990s.
On the top-right corner side of the obverse face of each of the banknotes, the value of the coin is displayed in the Mayan numerals, which representing Guatemala's cultural history.
On August 20, 2007, the Bank of Guatemala introduced a polymer banknote which constitutes of 1 quetzal. The Bank also did the introduction of a polymer banknote of 5 quetzals on November 14, 2011.
Coins circulate in denominations of 1, 5, 10, 25 and 50 centavos and 1 quetzal, whilst banknotes in circulation are available in denominations of 50 centavos, 1, 5, 10, 20, 50, 100 and 200 quetzals. Bank Exchange Rates for Guatemala. The foreign exchange rates for Guatemalan quetzal also known as the ISO code GTQ. Send money transfer online with us with the cheapest options.