Guatemala: Exports Less Competitive Due to Exchange RateAppreciation of the quetzal against the dollar has affected the income of exporters who are asking the monetary authority to stop overvaluation of the local currency.Tuesday, March 25, 2014
The President of the Guatemalan Association of Exporters (Agexport) reported that the strength of the quetzal is causing products in the country to be more expensive and therefore a change in monetary policy is needed. Source: Asociación Guatemalteca de Exportadores (AGEXPORT) Guatemala and the Exchange Rate DebateFebruary 2017 Although the export sector continues to denounce the loss of competitiveness because of appreciation of the quetzal against the dollar, the Central Bank insists that the exchange rate will remain dependent on market factors. Guatemala: Quetzal Strengthens Against DollarJuly 2016 Strong growth of remittances and savings in the oil bill are two of the factors responsible for an increase in the supply of dollars which is putting downward pressure on its price against the quetzal. Guatemala: Quetzal Continues to Appreciate Against DollarJanuary 2015 In order to moderate the decline in the dollar the Bank of Guatemala has made two interventions so far in 2015. Change in Exchange Rate Trend in GuatemalaOctober 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.
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