Guatemalan quetzal
Encyclopedia
The quetzal is the currency
of Guatemala
. It is named after the national bird of Guatemala, the Resplendent Quetzal
. In ancient Mayan
culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 cents, called centavos in standard Spanish or lenes in Guatemalan slang. The plural can be either quetzales (as it is in Spanish) or quetzals (in a slightly anglicised form).
. 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 it (the Guatemalan quetzal) utilized the gold standard.
In 1925, coin
s 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of 1, 5, 10 centavos, ¼, ½ and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted.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:
, with its first issues being overprints on notes of the Central Bank. Except for the introduction of 50 quetzales notes in 1967, the denominations of banknotes were unchanged until ½ and 1 quetzal coins replaced notes at the end of the 1990s.
In the top-right corner of the obverse face of each banknote, the value is displayed in Mayan numerals
, representing Guatemala's cultural history.
The Bank of Guatemala has briefly introduced a polymer banknote
of 1 quetzal on August 20, 2007.
The introduction of banknotes in the denominations of 500 and 1000 quetzals is still pending congress's approval. The design of the new bank notes are presumed to be :
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Guatemala
Guatemala
Guatemala is a country in Central America bordered by Mexico to the north and west, the Pacific Ocean to the southwest, Belize to the northeast, the Caribbean to the east, and Honduras and El Salvador to the southeast...
. It is named after the national bird of Guatemala, the Resplendent Quetzal
Resplendent Quetzal
The Resplendent Quetzal, Pharomachrus mocinno, is a bird in the trogon family. It is found from southern Mexico to western Panama . It is well known for its colorful plumage. There are two subspecies, P. m. mocinno and P. m...
. In ancient Mayan
Maya civilization
The Maya is a Mesoamerican civilization, noted for the only known fully developed written language of the pre-Columbian Americas, as well as for its art, architecture, and mathematical and astronomical systems. Initially established during the Pre-Classic period The Maya is a Mesoamerican...
culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 cents, called centavos in standard Spanish or lenes in Guatemalan slang. The plural can be either quetzales (as it is in Spanish) or quetzals (in a slightly anglicised form).
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 pesoGuatemalan peso
-History:The peso replaced the Central American Republic real, with 1 peso = 8 reales. In 1869, the centavo was introduced, worth one hundredth of a peso, but the real continued to be produced until 1912, when Guatemala fully decimalized. In 1870, the peso was pegged to the French franc at a rate...
. Until 1987, the quetzal was pegged to and domestically equal to the United States dollar
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
and before the pegging to the US dollar, it was pegged to the French franc
French franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money...
as well, since it (the Guatemalan quetzal) utilized the gold standard.
Coins
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s 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:
- 1 centavo
- 5 centavos
- 10 centavos
- 25 centavos
- 50 centavos
- 1 quetzal
Banknotes
The first banknotes were issued by the Central Bank of Guatemala in denominations of 1, 2, 5, 10, 20 and 100 quetzales, with ½ quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance of paper moneyBanknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
, with its first issues being overprints on notes of the Central Bank. Except for the introduction of 50 quetzales notes in 1967, the denominations of banknotes were unchanged until ½ and 1 quetzal coins replaced notes at the end of the 1990s.
In the top-right corner of the obverse face of each banknote, the value is displayed in Mayan numerals
Maya numerals
Maya Numerals were a vigesimal numeral system used by the Pre-Columbian Maya civilization.The numerals are made up of three symbols; zero , one and five...
, representing Guatemala's cultural history.
| Banknotes in Circulation http://www.banguat.gob.gt/inc/ver.asp?id=/en/currency%20and%20bills/Monedas%20y%20Billetes%20Translation.htm&e=18108 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Image | Value | Main Colour | Description | 
| Q0.50 | Brown | Tecún Umán Tecún Umán Tecún Umán was the last ruler and king of the K'iche' Maya people, in the highlands of what is now Guatemala... , Prince and Commander-and-Chief of the Quiche Realm during the Spanish Conquest. |
Tikal Tikal Tikal is one of the largest archaeological sites and urban centres of the pre-Columbian Maya civilization. It is located in the archaeological region of the Petén Basin in what is now northern Guatemala... 's Temple I Tikal Temple I Tikal Temple I is the designation given to one of the major structures at Tikal, one of the largest cities and archaeological sites of the pre-Columbian Maya civilization in Mesoamerica. It is located in the Petén Basin region of northern Guatemala... |
Not in circulation but still recognized | |||
 |
Q1 | Green | José María Orellana, President of Guatemala during the Currency Reform that introduced the Quetzal as the official currency. | Main building of the Central Bank of Guatemala | Reintroduced as a polymer banknote Polymer banknote Polymer banknotes were developed by the Reserve Bank of Australia , Commonwealth Scientific and Industrial Research Organisation and The University of Melbourne and were first issued as currency in Australia in 1988. These banknotes are made from the polymer biaxially-oriented polypropylene ... on August 20, 2007 |
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 |
Q5 | Violet | Justo Rufino Barrios Justo Rufino Barrios Justo Rufino Barrios was a President of Guatemala known for his liberal reforms and his attempts to reunite Central America.... , Co-Leader of the Liberal Revolution of 1871. |
Education allegory | Changed to a polymer banknote Polymer banknote Polymer banknotes were developed by the Reserve Bank of Australia , Commonwealth Scientific and Industrial Research Organisation and The University of Melbourne and were first issued as currency in Australia in 1988. These banknotes are made from the polymer biaxially-oriented polypropylene ... on November 14, 2011 |
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 |
Q10 | Red | Miguel García Granados Miguel García Granados Miguel García-Granados Zavala was President of Guatemala from 29 June 1871 to 4 June 1873. He was an influential figure in the broad sweep of 19th century Guatemalan history.... , Deputy and Main Leader of the Liberal Revolution of 1871. |
Picture from the Guatemalan National Assembly of 1872 | ||||||||
 |
Q20 | Blue | Mariano Gálvez Mariano Gálvez José Felipe Mariano Gálvez was a jurist and Liberal politician in Guatemala. For two consecutive terms from August 28, 1831 to March 3, 1838 he was chief of state of the State of Guatemala, within the Federal Republic of Central America.-Background and early career:Born in the 1790s José Felipe... , State Leader of the State of Guatemala, within the United Provinces of Central America. |
Signing of the declaration of Central America Central America Central America is the central geographic region of the Americas. It is the southernmost, isthmian portion of the North American continent, which connects with South America on the southeast. When considered part of the unified continental model, it is considered a subcontinent... n independence Independence Independence is a condition of a nation, country, or state in which its residents and population, or some portion thereof, exercise self-government, and usually sovereignty, over its territory.... |
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 |
Q50 | Orange | Carlos Zachrisson, Former finance minister Finance minister The finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances... from 1923 to 1926 |
Allegory of the importance of coffee to the country | ||||||||
 |
Q100 | Sepia | Francisco Marroquín Francisco Marroquín Francisco Marroquín was an early bishop of Guatemala and translator of Central American languages.Marroquín was born in Santander, Spain. He studied philosophy and theology at the University of Huesca... , First Bishop of the Realm of Goathemala, and Founder of the Universidad de San Carlos de Guatemala Universidad de San Carlos de Guatemala The Universidad de San Carlos de Guatemala It is the biggest and oldest university of Guatemala, also it is the fourth founded in the Americas.... |
First university building in Antigua Guatemala Antigua Guatemala Antigua Guatemala is a city in the central highlands of Guatemala famous for its well-preserved Spanish Mudéjar-influenced Baroque architecture as well as a number of spectacular ruins of colonial churches... |
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| Q200 | Aqua | Sebastian Hurtado, Mariano Valverde, German Alcantara. Three marimba Marimba The marimba is a musical instrument in the percussion family. It consists of a set of wooden keys or bars with resonators. The bars are struck with mallets to produce musical tones. The keys are arranged as those of a piano, with the accidentals raised vertically and overlapping the natural keys ... composers. |
Allegory of the marimba Marimba The marimba is a musical instrument in the percussion family. It consists of a set of wooden keys or bars with resonators. The bars are struck with mallets to produce musical tones. The keys are arranged as those of a piano, with the accidentals raised vertically and overlapping the natural keys ... , the national instrument, Musical score of La Flor del Café by Alcántara. |
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The Bank of Guatemala has briefly introduced a polymer banknote
Polymer banknote
Polymer banknotes were developed by the Reserve Bank of Australia , Commonwealth Scientific and Industrial Research Organisation and The University of Melbourne and were first issued as currency in Australia in 1988. These banknotes are made from the polymer biaxially-oriented polypropylene ...
of 1 quetzal on August 20, 2007.
The introduction of banknotes in the denominations of 500 and 1000 quetzals is still pending congress's approval. The design of the new bank notes are presumed to be :
- The 500 quetzales bill main theme in the reverse will be an allegory of the Mayan myth of creation from the Popol VuhPopol VuhPopol Vuh is a corpus of mytho-historical narratives of the Post Classic Quiché kingdom in Guatemala's western highlands. The title translates as "Book of the Community," "Book of Counsel," or more literally as "Book of the People."...
and Guatemalan literature, while in the oberse the image of Miguel Ángel AsturiasMiguel Ángel AsturiasMiguel Ángel Asturias Rosales was a Nobel Prize–winning Guatemalan poet, novelist, playwright, journalist and diplomat...
will be found. The dominant color will be gray.
- The 1000 quetzales bill main theme in the reverse will be an allegory of the Guatemalan roots. The obverse will contain the images of four people belonging to Guatemalan races, LadinoLadino peopleLadino is a Spanish term used to describe various socio-ethnic categories in Latin America, principally in Central America.The term Ladino is derived from "latino" and usually refers to the mestizo or hispanicized population...
, MayanMaya peoplesThe Maya people constitute a diverse range of the Native American people of southern Mexico and northern Central America. The overarching term "Maya" is a collective designation to include the peoples of the region who share some degree of cultural and linguistic heritage; however, the term...
representing 21 of the Amerindian ethnic groups, Garifuna, and XincaXinca peopleThe Xinca are a non-Mayan indigenous people of Mesoamerica, with communities in the southern portion of Guatemala, near its border with El Salvador, and in the mountainous region to the north....
. The dominant color will be ocre.
See also
- Economy of GuatemalaEconomy of GuatemalaGuatemala is the most populous of the Central American countries with a GDP per capita roughly one-third that of Argentina, Brazil, and Chile. Coffee, sugar, and bananas are the main products...
- Convert Guatemalan quetzal to British Pounds
External links
- Images of Guatemalan coins from the Banco de Guatemala page