:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/VGNBFWQBHFAAHHCJJKFWWHU6ME.jpg "Closing rate of the euro in Guatemala this February 13 from EUR to GTQ 1")
On the last day, the euro was traded at the close of 8.39 quetzals on averagewhich represents a variation of 1.74% compared to the average of 8.24 quetzales of the previous session.
Last week the euro recorded an increase of 0.08%so that on a year-over-year basis, it still maintains a rise of 0.4%.
If we compare the figure with the previous days, it accumulates three consecutive sessions in positive figures. The volatility referring to last week is lower than the figure reached for last year (19.82%), presenting itself as a value with less changes than usual in recent dates.
Guatemalan currency
He Quetzal is the legal currency used in Guatemala and it was created with the enactment of the Monetary Law of 1924, when then-President José María Orellana ordered the replacement of the Guatemalan peso.
The Guatemalan currency is currently divided into hundred cents and in its early days it was worth 10 cents above the US dollar until in 1980 it fell to par, recovering months later.
Currently, the quetzal is equivalent to 7.50 units per US dollar and 9.25 units per euro, becoming one of 30 monetary units in Latin America and the world to be one of the most invariable.
The agency responsible for regulating the issuance of currency is the Banco de Guatemala and today there are coins of 5, 10, 25 and 50 cents quetzal and 1 quetzal, while in notes of 1, 5, 10 , 20, 50, 100 and 200 quetzals.
In his attempts to reduce production costs Among coins, the government has sought to introduce coins with different materials, such as opting for steel instead of nickel or brass-plated steel.
As far as the economy is concerned, over the past three decades, the country had the least volatile growth in three decades compared to other peer and ambitious countries; At the same time, it managed to keep the public debt and budget deficit stable, although this did not translate into reduced poverty and inequality.
Similarly, Guatemala has the fourth highest rate of chronic malnutrition in the world and the highest among Latin American and Caribbean countries, with significant indigenous and rural populations affected.
According to the latest projections from the Economic Commission for Latin America and the Caribbean (Cepal), Guatemala is expected to grow by around 3.3% in 2023.