Saturday, March 14, 2009

Quetzal Exchange Rate Reaches 8.18

The banking system sold quetzales today at a price ranging from Q8.12 to Q8.18. This means the quetzal has depreciated a bit more against the U.S. dollar.

Although the buying and selling varies in each bank, the difference is only two to three points. The benchmark price at the Bank of Guatemala yesterday was Q8.08.

At the meeting of the Monetary Board last Wednesday, the Banguat expressed concern about the movement, noting the exchange rate and approving the application of additional mechanisms to intervene in the behavior of the currency.

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