Guatemalan quetzal

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

The quetzal (locally: [keˈtsal]; 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

Current GTQ exchange rates
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History

The quetzal was introduced in 1925 during the term of President José María Orellana, whose image appears on the obverseof 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of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted.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:

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.
For table standards, see the banknote specification table.

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

References

  1. ↑ banguat.gob.gt
  2. ↑ banguat.gob.gt
  3. ↑ banguat.gob.gt

External links

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