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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 Guatemalan peso at the rate of 60 pesos = 1 quetzal. [1] Until 1987, the quetzal was pegged to and domestically equal to the United States dollar.
In 1870, the peso was pegged to the French franc at a rate of 1 peso = 5 francs. However, convertibility was suspended in 1895, and as more pesos were issued as fiat money, the peso's value fell considerably. The peso was replaced by the quetzal in 1925 at the rate of 60 pesos = 1 quetzal. [1]
Guatemala: Guatemalan quetzal: GTQ: Bank of Guatemala: float Honduras: Honduran lempira: HNL: Central Bank of Honduras: crawling peg to USD Nicaragua: Nicaraguan córdoba: NIO: Central Bank of Nicaragua: crawling peg to USD Costa Rica: Costa Rican colón: CRC: Central Bank of Costa Rica: float Panama: US dollar / Panamanian balboa: USD / PAB
Guatemala: Guatemalan quetzal: Bank of Guatemala: Banco de Guatemala: 1945 Guinea: Guinean franc: Central Bank of the Republic of Guinea: Banque Centrale de la République de Guinée: 1960 Guinea-Bissau: West African CFA franc: Central Bank of West African States: Banco Central dos Estados da África Ocidental: 1959 Guyana: Guyanese dollar ...
Guatemala's economy is dominated by the private sector, which generates about 85% of GDP. [citation needed] Most of its manufacturing is light assembly and food processing, geared to the domestic, U.S., and Central American markets. In 1990 the labor force participation rate for women was 42%, later increasing by 1% in 2000 to 43% and 51% in 2010.
The Bank of Guatemala (Spanish: Banco de Guatemala) is the central bank of Guatemala. It was established in 1945. It is one of the most recognized Brutalist themed architectural structures. Designed by architects José Montes Córdova and Raúl Minondo, the iconic bank stands within the heart of the city's civic center.
The real exchange rate (RER) is the purchasing power of a currency relative to another at current exchange rates and prices. It is the ratio of the number of units of a given country's currency necessary to buy a market basket of goods in the other country, after acquiring the other country's currency in the foreign exchange market, to the ...
The resplendent quetzal was first described by Mexican naturalist Pablo de La Llave in 1832. [4] It is one of five species of the genus Pharomachrus, commonly known as quetzals. [5] Quetzal is usually specifically used to refer to the resplendent, but it typically applies to all members of the genera Pharomachrus and Euptilotis.