Appreciation of Quetzal Continues in Guatemala

So far this year the average price of the US currency against the Quetzal has dropped from Q7,52 to Q7,33, reaching the lowest value since 1999.

Wednesday, March 22, 2017

Al July 18th, 2017  

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While the flow of remittances from Guatemalans abroad continues to grow, the exchange rate can not change the clear downward trend seen year after year since 2013. Figures from the Bank of Guatemala indicate that during that year, the average monthly exchange rate stood at Q7,87 per dollar, dropping to Q7,74 the following year, closing at Q7,67 in 2015 and last year at Q7,62 per dollar. Click to interact with graphicsClick to interact with graphics

So far this year the trend has not changed. Prensalibre.com reports that "...The reference for Wednesday March 22 is similar to that registered on June 1, 1999, when contrary to current behavior, the dollar was showing an upward trend."

"... So far this year, the dollar has lost Q0,19 and has appreciated an average of 3.5%.  On 1 January, the reference was Q7,52 for every dollar."

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More on this topic

Exchange Rate Closes 2018 Upwards

December 2018

Because of the uncertainty in the local economy, so far this year in Guatemala the Quetzal has depreciated just over 5% against the U.S. dollar.

According to Banco de Guatemala figures, between January 1st and December 19th, 2018, the reference exchange rate increased from Q7.34 to Q7.75. This upward trend contrasts with the reported last year, since during 2017 the exchange rate dropped from Q7.53 to Q7.35.

Quetzal vs. Dollars: Has the Trend Reversed?

September 2018

Since the beginning of the year Banco de Guatemala has intervened in the foreign exchange market buying foreign currency in order to curb appreciation of the local currency against the dollar, but in recent weeks it has been selling currencies in order to minimize depreciation.

In recent weeks the exchange rate of the Quetzal against the US dollar has been trending upwards, which has forced the Bank of Guatemala (Banguat) to sell foreign currency in the foreign exchange market. So far this year, up until September 24, it has had to intervene selling $402 million worth of foreign currency.

Guatemala: Quetzal Continues to Appreciate Against Dollar

January 2015

In order to moderate the decline in the dollar the Bank of Guatemala has made two interventions so far in 2015.

During 2013 the Guatemalan currency gained about 3% against the dollar, making exports less competitive. Due to the fact that the trend has continued, the Bank of Guatemala has started to apply the rule of exchange participation in order to moderate behavior of the currency.

Change in Exchange Rate Trend in Guatemala

October 2014

Since August the quetzal has been appreciating against the dollar, mainly due to an increase of foreign exchange coming into the country in the form of remittances.

Although in the first eight months of the year the exchange rate against the dollar was stable, from August the trend began to change and the national currency began to appreciate.

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