Guatemalan quetzal
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| Guatemalan quetzal quetzal guatemalteco (Spanish) |
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| ISO 4217 Code | GTQ | ||
|---|---|---|---|
| User(s) | Guatemala | ||
| Inflation | 6.6% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/100 | centavo | ||
| Symbol | Q | ||
| Plural | quetzales | ||
| Coins | 1, 5, 10, 25, 50 centavo, 1 quetzal | ||
| Banknotes | 5, 10, 20, 50, 100 quetzales | ||
| Central bank | Banco de Guatemala | ||
| Website | www.banguat.gob.gt | ||
The quetzal (ISO 4217 code: GTQ) is the currency of Guatemala. It is named after the national bird of Guatemala, the Resplendent Quetzal and is divided into 100 centavos. The plural can be either quetzales (as it is in Spanish) or quetzals (in a slightly anglicised form). In ancient Mayan culture, the quetzal bird's tail feathers were used as currency. Having a currency named after the bird carries a strong historical value indicative of the native peoples of Guatemala.
Contents |
[edit] History
The quetzal was introduced in 1925 during president José María Orellana's term. Orellana's image appears on the obverse of the one-quetzal bill. It replaced the peso. Until 1987, the quetzal was pegged to and domestically equal to the US dollar.
[edit] Coins
In 1925, coins in denominations of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted. ½ and 2 centavos coins were added in 1932. Until 1965, coins of 5 centavos and above were minted in 72% silver. ½ and 1 quetzal coins were reintroduced in 1998 and 1999, respectively. Coins currently in circulation are [1]
- 1 centavo
- 5 centavos
- 10 centavos
- 25 centavos
- 50 centavos
- 1 quetzal
[edit] Banknotes
The first banknotes were issued by the Central Bank of Guatemala in denominations of 1, 2, 5, 10, 20 and 100 quetzales, with ½ quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance of paper money, with its first isses being overprints on notes of the Central Bank. Except for the introduction of 50 quetzales notes in 1967, the denominations of banknotes were unchanged until ½ and 1 quetzal coins replaced notes at the end of the 1990s. Banknotes in circulation are [2]
- .50 quetzales (not in circulation but still recognized)
- 1 quetzal (not in circulation but still recognized. In 2007 it will come back as a bill for a brief period of time)
- 5 quetzales
- 10 quetzales
- 20 quetzales
- 50 quetzales
- 100 quetzales
The Bank of Guatemala states its intention to introduce a polymer 1 quetzal, as well as denominations of 200, 500 and 1000 quetzals in May or June 2007 [1].
[edit] Reference
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