Guatemala: Queztal to US dollar exchange rate increases
In one week the currency went from Q7.77 to Q7.91, the biggest increase since October 2004.
Wednesday, January 28, 2009
Elperiodico.com.gt reports: "The exchange rate is finally reaching its real levels, in previous years there was the feeling that it was overvalued," said Tulio Garcia, president of the Guatemalan Association of Exporters (Agexport), in comments about the recent upward tendency of the US dollar.
The reference exchange rate was 8.00717 quetzals yesterday, the highest price against the dollar since January 2011.
The U.S. Dollar has been losing its value, pushed down by unattractive interest rates and lack of investment alternatives.
The Central Bank of Guatemala yesterday sold $24 million after the dollar reached new record prices.
Yesterday Banguat sold $33.5 million, to curb the increase of the dollar, as it has been doing in the last months.
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