Guatemala Changes Currency Rate Calculation

The new calculation will come into effect on July 16th; it will only consider transactions larger than $20.000.

Monday, June 14, 2010

Currently, the Central Bank includes all foreign exchange market transactions to calculate an average rate.

Carlos González, analyst at Asies (Social Estudies Association), considers that this will allow for faster transactions, as it will eliminate from the calculation a lot of small, meaningless transactions”, reported Sigloxxi.com.



More on this topic

Uncertainty Over Dollar in Costa Rica

June 2014

A proliferation of articles, reviews and editorials on the exchange rate is the best example of the prevailing concern in a market waiting for a clear definition of the exchange rate policy by the Central Bank.

Editorial

In recent weeks, and while the President of the Central Bank of Costa Rica (BCCR) is denying it , warnings have been given over interventions in the foreign exchange market by the monetary authority.

Nobody Wants to Dollarize In Guatemala

June 2010

In a strange unanimity, government officials agree with independent economic analysts: dollarization is inconvenient for Guatemala.

That the Guatemalan Central Bank argues against dollarization is no surprise for anyone, as its very reason for existence is questioned with it.

Monetary Sovereignty?

April 2010

The recent increase in the value of the Costa Rican colon versus the dollar is worrisome, not only because there are no clear reasons to explain it, but also because it would be hard to contain it without causing greater problems.

In the past weeks, and without apparent reason, the price of the U.S. dollar in Costa Rica dropped considerably.

Rise in Dollar Attributed to Speculation in Guatemala

March 2009

The monetary authority of Guatemala, Banguat, continued to intervene in the market by selling dollars to address a rise that could be due to speculation.

Authorities and analysts argued about the causes for the appreciation of the US currency for which there are apparently no clear causes.

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