Guatemalan quetzal

Infobox Currency
currency_name_in_local = "quetzal guatemalteco" es icon
image_1 = GuatemalanBanknoteQ100BothSides.jpg
iso_code = GTQ
using_countries = flag|Guatemala
inflation_rate = 6.6%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2006 est.
subunit_ratio_1 = 1/100
subunit_name_1 = centavo
symbol = Q
plural = quetzales
used_coins = 1 centavo, 5, 10, 25, 50 centavos, 1 quetzal
used_banknotes = 1, 5, 10, 20, 50, 100 quetzales
issuing_authority = Banco de Guatemala
issuing_authority_website = www.banguat.gob.gtThe 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 cents (centavos in legal Spanish or lenes in Guatemalan traditional Spanish). 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 currency named after the bird carries a strong historical value indicative of the native people of Guatemala.

History

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 US dollar

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of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted.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 [http://www.expedia.co.uk/daily/wg/P41371.asp?CCheck=1&]
*1 centavo
*5 centavos
*10 centavos
*25 centavos
*50 centavos
*1 quetzal

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 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.

The Bank of Guatemala has briefly introduced a polymer banknote of 1 quetzal on August 20, 2007. The introduction of banknotes in the denominations of 200, 500 and 1000 quetzals is still pending congress's approval. [ http://www.nachthund.biz/CatalogUpdate/Guatemala/GuatemalaIndex.html Accessed 2007-03-07]

ee also

* Economy of Guatemala

References

External links

* [http://www.banguat.gob.gt Banco de Guatemala] Standard numismatics external links
world_coin_gallery_1_url = Guatemala
world_coin_gallery_1_name = Guatemala
banknote_world_1_url = guatemala
banknote_world_1_name = Guatemala
dollarization_1_url =
dollarization_1_name =
gfd_1_url = Guatemala
gfd_1_name = Guatemala
gfd_data_1_url = 6133
gfd_data_1_name = Guatemala Quetzal
show_gfd_excel = Y
* [http://www.banguat.gob.gt/inc/ver.asp?id=/en/currency%20and%20bills/Monedas%20y%20Billetes%20Translation.htm&e=18108 Images of Guatemalan coins] from the Banco de Guatemala page