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.
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.
The Central Bank of Guatemala yesterday sold $24 million after the dollar reached new record prices.
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.
Yesterday exchange rate was 8,16 quetzales, the highest on record since November 2001.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar