U.S. currency rose last week after having been at its lowest value for the last five years.
The upward trend that the dollar began showing last week against the quetzal, could continue in the coming months as it seems that factors that pushed the dollar down are no longer present in the Guatemalan economy.
The Guatemalan quetzal appreciated 2.1% against the Dollar in recent weeks, reducing the favorable conditions set by high international prices of coffee and sugar.
The article by L. Alvarez and V. Gudiel from Elperiodico.com.gt, states: "This appreciation is taking its toll on the entire export sector, which receives less Quetzales in foreign sales and which has dragged this on for 5 years, appreciating the exchange rate over 30 percent (after inflation) against the U.S. currency."