Guatemalan Quetzal
Quetzal
Currency Code
GTQ
ISO 320
Symbol
GTQ
Native: Q
Decimal Digits
2
Rounding: 0
Countries
GT
Using this currency
Currency Units
Major Unit
Name: quetzal
Symbol: Q
Minor Unit
Name: centavo
Symbol:
Value: 0.01
Banknotes
Frequently Used
Q1Q5Q10Q20Q50Q100Q200
Rarely Used
50 centavos
Coins
Frequently Used
1 centavo5 centavo10 centavo25 centavo50 centavoQ1
Plural Forms
English Plural
Guatemalan quetzals
Native Plural
Quetzales
Overview
The Guatemalan Quetzal is the currency of Guatemala, managed by the Bank of Guatemala. Named after the national bird, it has been relatively stable and serves Central America's largest economy.
Economy
- Guatemala is a member of SICA, OAS, CELAC, Rio Group.
- Main industries include: Sugar, Textiles and clothing, Furniture, Chemicals, Petroleum, Metals, Rubber, Tourism.
- Guatemala is part of the World Trade Organization.
- Imports are fuels, machinery, transport equipment, construction materials, grain, fertilizers, electricity, mineral products, chemical products, plastic materials and products.
- Major exports include coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom, manufacturing products, precious stones and metals, electricity.
- GDP: $95.3 billion (2023 est.).
- GDP per capita: $5,200 (2023 est.).
- Unemployment rate: 2.3% (2017 est.).
- Inflation rate: 6.2% (2023 est.).
- Main trading partners: United States, El Salvador, Honduras, Nicaragua, Costa Rica, Mexico.
- Trade agreements: CAFTA-DR, Various bilateral agreements.
History
- Previous currencies used: Guatemalan peso, Central American peso.
- The quetzal was introduced in 1925, replacing the Guatemalan peso at par. It was named after the resplendent quetzal, Guatemala's national bird, symbolizing liberty and independence.
- 1925: GTQ introduced, replacing Guatemalan peso
- 1945: Bank of Guatemala established
- 1986: Return to civilian government and economic reforms
- 2001: Banking crisis and currency pressure
- 2006: Implementation of CAFTA-DR trade agreement
- Exchange rate peg: Free floating.
General Information
- ISO 4217 Code: GTQ
- Symbols: GTQ/Q
- Currency Subunits: 100 centavos
- Central Bank: Bank of Guatemala
- Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability and supporting economic growth.
- Bills: 1 GTQ, 5 GTQ, 10 GTQ, 20 GTQ, 50 GTQ, 100 GTQ, 200 GTQ
- Coins: 1 centavo, 5 centavos, 10 centavos, 25 centavos, 50 centavos, 1 quetzal
- USD Exchange Rate: Variable (approximately 7.8 GTQ per USD)
- Pegged To: None (Floating)
- Capital: Guatemala City
- Population: 18,092,026 (2023 est.)
- Area: 108,889 km²
- Languages: Spanish (official) 69.9%, Maya languages 29.7%, Other 0.4%
- Time Zones: UTC-6 (Central Standard Time)
- Government Type: Presidential republic
- Head of Government: President (head of state and government)
- Independence: September 15, 1821 (from Spain)
- Ethnic Groups: Mestizo 56%, Maya 41.7%, Xinca 1.8%, Afro-descendant 0.2%, Garifuna 0.1%, Foreign 0.2%
- Religions: Roman Catholic 47%, Protestant 38.2%, Other 2.6%, None 12.3%
- Literacy Rate: 81.5% (2015 est.)
- Transport: La Aurora International Airport, Pan-American Highway, limited rail network, Atlantic and Pacific ports
- Communications: Adequate telecommunications, 65% internet penetration, extensive mobile coverage
- Energy: Hydroelectric 31%, Oil 27%, Biomass 18%, Coal 17%, Other renewables 7%
- Countries Using This Currency: Guatemala
- Data Sources: Central Bank: Bank of Guatemala (banguat.gob.gt), Economic Data: National Institute of Statistics Guatemala, World Bank, IMF, Trade Data: Superintendency of Tax Administration, Demographic Data: National Institute of Statistics Guatemala, Geographic Data: National Institute of Seismology, Volcanology, Meteorology and Hydrology, Historical Data: Bank of Guatemala archives
- Last Updated: 2025