Guatemala is a country with a lively culture and many famous old places. It uses the quetzal (GTQ) as its main currency. The money gets its name from the quetzal bird. This bird is a sign of freedom and wealth for the Mayan people. The currency shows the country’s strong ties to its history.
Guatemalan Quetzal Basics
The quetzal is made up of 100 centavos. You can find coins in the values of 1, 5, 10, 25, and 50 centavos. There is also a coin for 1 quetzal. Banknotes come in 1, 5, 10, 20, 50, 100, and 200 quetzales.
Historical Overview
Introduced in 1925, the quetzal took the place of the Guatemalan peso. One quetzal was worth sixty pesos. At first, the value of the quetzal was set to match the U.S. dollar. This fixed rate stayed until 1987. After that, the value of the quetzal changed with the market.
Cultural Significance and Currency Design
- Resplendent Quetzal Bird: The currency gets its name from the resplendent quetzal, a bird that stands for freedom and wealth in the country’s culture.
- Mayan Heritage: Some of the banknotes show Mayan numbers and pictures to honor the country’s early roots.
- Notable Figures: You will see key people from Guatemala’s history, like President José María Orellana, on several notes. They are shown to remember what they did for the country’s growth.
Exchange Rates and Financial Tips
As of May 2025, the exchange rate is about 1 USD to 7.71 GTQ. To get the most up-to-date and correct rates, you should check trusted banks or money exchange sites.
Tips for Managing Money in Guatemala:
- Currency Exchange: Use approved exchange services or banks to change money from other countries to quetzales.
- ATMs: You can find ATMs in many city areas. Make sure your bank card works there, and check if there are extra fees for taking out money.
- Cash Usage: Many places take credit cards, but it is a good idea to have cash, especially if you go outside the city.
Sending Money to Guatemala
If you want to send money to Guatemala, Remitly is a good place to start. The rates here are good, and the fees are low. You can get the money in different ways. Some get it sent to their bank and others choose cash pick up. You can do this at Banrural or Banco Industrial. It is fast and easy to use for people who need to get money to family or friends.
Frequently Asked Questions
What is the symbol for the Guatemalan quetzal?
The symbol used for the Guatemalan quetzal is “Q”.
How many centavos are in one quetzal?
One quetzal is equal to 100 centavos.
Can I use U.S. dollars in Guatemala?
Some places may take U.S. dollars, but it’s better to use quetzales when you buy things. This way, you get the right price and do not get stuck with bad exchange rates.
Are there any restrictions on bringing foreign currency into Guatemala?
Travelers can bring money from other countries into Guatemala. But, if you have more than $10,000 USD, you must say so when you come in.
Is it better to exchange money in my home country or in Guatemala?
You can usually get better rates when you exchange money in Guatemala. But it is a good idea to check the rates and fees before you do it.