Guatemalan quetzal

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Guatemalan quetzal
quetzal guatemalteco (Spanish)
GuatemalanBanknoteQ100BothSides.jpg
ISO 4217 codeGTQ
Central bankBank of Guatemala
 Websitewww.banguat.gob.gt
User(s) Guatemala
Inflation3.86%
 SourceBanco de Guatemala , December 2010.
Subunit
 1/100centavo
SymbolQ
Pluralquetzales
Coins1, 5, 10, 25, 50 centavos, 1 quetzal
Banknotes50 centavos, 1 quetzal, 5, 10, 20, 50, 100, 200 quetzales
 
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Guatemalan quetzal
quetzal guatemalteco (Spanish)
GuatemalanBanknoteQ100BothSides.jpg
ISO 4217 codeGTQ
Central bankBank of Guatemala
 Websitewww.banguat.gob.gt
User(s) Guatemala
Inflation3.86%
 SourceBanco de Guatemala , December 2010.
Subunit
 1/100centavo
SymbolQ
Pluralquetzales
Coins1, 5, 10, 25, 50 centavos, 1 quetzal
Banknotes50 centavos, 1 quetzal, 5, 10, 20, 50, 100, 200 quetzales

The quetzal (locally: [keˈtsal]; code: GTQ) is the currency of Guatemala. It is named after the national bird of Guatemala, the Resplendent Quetzal. In ancient Mayan culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 cents, called centavos in standard Spanish or lenes in Guatemalan slang. The plural is quetzales.

History[edit]

The quetzal was introduced in 1925 during the term of President José María Orellana, whose 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 United States dollar and before the pegging to the US dollar, it was pegged to the French franc as well, since the quetzal utilized the gold standard.

Coins[edit]

Quetzal (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of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted.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:

Banknotes[edit]

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 issues 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.

In the top-right corner of the obverse face of each banknote, the value is displayed in Mayan numerals, representing Guatemala's cultural history.

Banknotes in Circulation [1]
ImageValueMain ColorDescriptionRemark
ObverseReverseObverseReverse
GuatemalanBanknoteQ050BothSides.jpgQ0.50BrownTecún Umán, Prince and Commander-and-Chief of the Quiche Realm during the Spanish Conquest.Tikal's Temple INot in circulation but still recognized
GuatemalanBanknoteQ100BothSides.jpgQ1GreenJosé María Orellana, President of Guatemala during the Currency Reform that introduced the Quetzal as the official currency.Main building of the Central Bank of GuatemalaReintroduced as a polymer banknote on August 20, 2007
GuatemalanBanknoteQ00500BothSides.jpgQ5VioletJusto Rufino Barrios, Co-Leader of the Liberal Revolution of 1871.Education allegoryChanged to a polymer banknote on November 14, 2011 [1]
GuatemalanBanknoteQ01000BothSides.jpgQ10RedMiguel García Granados, Deputy and Main Leader of the Liberal Revolution of 1871.Picture from the Guatemalan National Assembly of 1872
GuatemalanBanknoteQ02000BothSides.jpgQ20BlueMariano Gálvez, State Leader of the State of Guatemala, within the United Provinces of Central America.Signing of the declaration of Central American independence
GuatemalanBanknoteQ05000BothSides.jpgQ50OrangeCarlos Zachrisson, Former finance minister from 1923 to 1926Allegory of the importance of coffee to the country
GuatemalanBanknoteQ10000BothSides.jpgQ100SepiaFrancisco Marroquín, First Bishop of the Realm of Goathemala, and Founder of the Universidad de San Carlos de GuatemalaFirst university building in Antigua Guatemala
GuatemalanBanknoteQ20000BothSides.jpgQ200AquaSebastian Hurtado, Mariano Valverde, German Alcántara. Three marimba composers.Allegory of the marimba, the national instrument, Musical score of La Flor del Café by Alcántara.

The Bank of Guatemala has introduced a polymer banknote of 1 quetzal on August 20, 2007. The Bank of Guatemala has also introduced a 5 quetzal polymer banknote on November 14, 2011.

The introduction of banknotes in the denominations of 500 and 1000 quetzals is still pending congress's approval.[2] The design of the new bank notes are presumed to be:[3]

Current GTQ exchange rates
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See also[edit]

References[edit]

External links[edit]