Guatemala: Dollar at its Highest Value Since 2004

The exchange rate yesterday reached Q7.98 for $1 (Source: Bank of Guatemala); and in the financial system it sold over Q8 for $1.

Wednesday, February 25, 2009

Prensa Libre publishes on its web site: “The last time such a high value was registered was on the 2nd of August, 2004 when the Central Bank exchange rate established the sale rate of Q8.01 for $1 USD. Sectors such as imports, trade and housing showed that the upturn affected them because they purchase the most expensive supplies and this discourages consumption.

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More on this topic

Guatemala: Does Quetzal Need to Be Devalued ?

January 2016

Given the claims of loss of competitiveness by the export sector, the Bank of Guatemala is insisting that the dollar be made more expensive for reasons exclusively to do with market factors.

Guatemalan exporters are looking at the possibility of a devaluation of the quetzal induced in an international context where the dollar has tended to rise.

“Colonization” Explains Currency Exchange Rate in Costa Rica

April 2010

Costa Rican analysts shared their insights as to what caused the Costa Rican colon to gain so much value versus the dollar.

Two explanations seem to be the most agreed upon:
1. Speculative capital enters the country to take advantage of high interest rates in Colones, as opposed to low yields in international markets.

Banguat Intervenes to Halt Rise of the Dollar

September 2009

The Central Bank of Guatemala yesterday sold $24 million after the dollar reached new record prices.

A dollar is currently traded for Q8.29053, and in the last 12 months its price has increased 11.4%.

From "The Central bank intervened twice, each time with $12 million. However, the currency exchange market demanded $32.4 million from the bank".

Bank of Guatemala sells dollars

October 2008

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.

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.

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