Guatemalan quetzal

Guatemalan quetzal
quetzal guatemalteco  (Spanish)
ISO 4217 code	GTQ
Central bank	Bank of Guatemala
Website	.gt.gob.banguatwww
User(s)	Guatemala
Inflation	3.86%
Source	Banco de Guatemala , December 2010.
Subunit
1/100	centavo
Symbol	Q
Plural	quetzales
Coins	1, 5, 10, 25, 50 centavos, 1 quetzal
Banknotes	50 centavos, 1 quetzal, 5, 10, 20, 50, 100, 200 quetzales

The quetzal (locally: ; code: GTQ) is the currency of Guatemala, 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 centavos or lenes in Guatemalan slang. The plural is quetzales.

Exchange rate

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 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

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of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted.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

• 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.

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][2]

Image		Value	Main Color	Description		Remark
Obverse	Reverse			Obverse	Reverse
		Q0.50	Brown	Tecún Umán, Prince and Commander-and-Chief of the Quiche Realm during the Spanish Conquest.	Tikal's Temple I	Not in circulation but still recognized
		Q1	Green	José María Orellana, President of Guatemala during the Currency Reform that introduced the Quetzal as the official currency.	Main building of the Central Bank of Guatemala	Reintroduced as a polymer banknote on August 20, 2007
		Q5	Violet	Justo Rufino Barrios, Co-Leader of the Liberal Revolution of 1871.	Education allegory	Changed to a polymer banknote on November 14, 2011[3]
		Q10	Red	Miguel García Granados, Deputy and Main Leader of the Liberal Revolution of 1871.	Picture from the Guatemalan National Assembly of 1872
		Q20	Blue	Mariano Gálvez, State Leader of the State of Guatemala, within the United Provinces of Central America.	Signing of the declaration of Central American independence
		Q50	Orange	Carlos Zachrisson, Former finance minister from 1923 to 1926	Allegory of the importance of coffee to the country
		Q100	Sepia	Francisco Marroquín, First Bishop of the Realm of Goathemala, and Founder of the Universidad de San Carlos de Guatemala	First university building in Antigua Guatemala
		Q200	Aqua	Sebastian 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.

See also

• Economy of Guatemala

References

External links

• Banco de Guatemala
• Images of Guatemalan coins from the Banco de Guatemala page