Code GTQ Plural quetzales | 1/100 centavo Symbol Q | |
Banknotes 50 centavos, 1 quetzal, 5, 10, 20, 50, 100, 200 quetzales Coins 1, 5, 10, 25, 50 centavos, 1 quetzal | ||
The quetzal ([keˈtsal]; code: GTQ) is the currency of Guatemala, named after the national bird of Guatemala, the resplendent quetzal.
Contents
In ancient Mayan culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 centavos or lenes in Guatemalan slang. The plural is quetzales.
History
The quetzal was introduced in 1925 during the term of President José María Orellana, whose image appears on the obverse of the one-quetzal bill. It replaced the peso. Until 1987, the quetzal was pegged to and domestically equal to the United States dollar and before the pegging to the US dollar, it was pegged to the French franc as well, since the quetzal utilized the gold standard.
Coins
In 1925, coins in denominations of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted. ½ and 2 centavos coins were added in 1932. Until 1965, coins of 5 centavos and above were minted in 72% silver. ½ and 1 quetzal coins were reintroduced in 1998 and 1999, respectively. Coins currently in circulation are: