Bank of Guatemala sells dollars
For the first time in at least two years, the Bank of Guatemala had to sell $4.1 million in the Electronic System for the Negotiation of Currency, in order to stop the rapid appreciation of the currency.
Friday, October 10, 2008
As of September 30, the exchange rate of reference was at Q7.47181, however in the first eight days of October is went up to Q7.58238 per US$1.
Strong growth of remittances and savings in the oil bill are two of the factors responsible for an increase in the supply of dollars which is putting downward pressure on its price against the quetzal.
The increase in remittance income is the main factor that has led to the value of the local currency against the dollar rising to its highest level in the past two years.
Investors are focusing on local currency due to its renewed value and the issuance of bonds at higher interest rates.
In order to moderate the decline in the dollar the Bank of Guatemala has made two interventions so far in 2015.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar