Banguat Intervenes to Halt Rise of the Dollar

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

Thursday, September 3, 2009

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

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

More on this topic

Dollar Keeps Rising in Costa Rica

March 2014

The exchange rate in the wholesale market reached 558 colones per dollar, while at bank counters one dollar was being sold (on Wednesday March 5th) at 565 colones.

The price of the dollar in Costa Rica has not found an upper limit, trading at 565 colones per dollar at some bank counters, which is sixty colons more than earlier this year.

Dollar Reaches Q8 in Guatemala

September 2012

The reference exchange rate was 8.00717 quetzals yesterday, the highest price against the dollar since January 2011.

Throughout 2011 and in the first eight months of 2012, the behavior of the currency has remained stable, according to data from the Bank of Guatemala (Banguat).

Banguat Intervenes to Prevent Dollar Appreciation

August 2009

Yesterday Banguat sold $33.5 million, to curb the increase of the dollar, as it has been doing in the last months.

In the interbank market, the dollar reached a record price of Q8.30.

"In the last weeks several economic analysts have pointed out that there is high speculation in the currency market, because big exporting companies choose not to sell their dollars, or trade a minimum just to cover their operations, because they know that if they wait a few days they'll get better prices for their dollars, and earn a profit", reported Elperiodico.com.gt.

Guatemala's Central Bank Auctions $32 Million

August 2009

For a second time in one week, the Central Bank had to auction dollars to control the depreciation of the currency, which reached Q8.28 per dollar.

In July 31st, the bank had to intervene in the foreign exchange market, purchasing $9.9 million.

Several traders reported newspaper El Periódico that "currency exchange rate went up because of low supply of dollars.

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