Quetzal To Remain Stable in 2012

According to G & T Continental Bank, Guatemala’s exchange rate will range between 7.3 and 8.3 quetzals to the dollar during 2012.

Friday, March 9, 2012

The general manager of G & T Continental Bank, Federico Linares said that predictions for 2012 are that the exchange rate against the dollar will remain at Q7.8 + / - 0.5. As of Thursday The Bank of Guatemala (Banguat) maintained a rate of Q7.75 to the dollar.

In Guatemala there are strengths that are driving the sector, including macroeconomic stability, a healthy banking system and an improved business climate, said Linares.

However, the banker commented negatively on the Banguat’s forecasts for GDP growth for 2012, going from 2.9% to 3.3%, which he called "mediocre aspirations."

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