Thequetzal (locally[keˈtsal];code:GTQ) is thecurrency ofGuatemala, named after thenational bird of Guatemala, theresplendent quetzal. In ancientMayan culture, the quetzal bird's tail feathers were used as currency. It is divided into 100centavos, orlen (plurallenes) in Guatemalanslang. The plural isquetzales.
The quetzal was introduced in 1925 during the term of PresidentJosé María Orellana, whose image appears on the obverse of the one-quetzal bill. It replaced theGuatemalan peso at the rate of 60 pesos = 1 quetzal.[1] Until 1987, the quetzal was pegged to and domestically equal to theUnited States dollar. The currency was named after the country's famous bird, theQuetzal, which is also on theflag of Guatemala.
In 1925,coins in denominations of 1, 5, 10 centavos,1⁄4,1⁄2 and 1 quetzal were introduced, although the majority of the 1 quetzal coins were withdrawn from circulation and melted.1⁄2 and 2 centavo coins were added in 1932. Until 1965, coins of 5 centavos and above were minted in 72% silver.1⁄2 and 1 quetzal coins were reintroduced in 1998 and 1999, respectively.
The coins currently in circulation are disc-shaped and include Guatemala'snational coat of arms on the obverse.[2] The coins, and their reverse designs are:
5 centavos: thetree of liberty and the motto "LIBRE CREZCA FECUNDO (Grow free and fecund)"[2]
The first banknotes were issued by theCentral Bank of Guatemala in denominations of 1, 2, 5, 10, 20 and 100 quetzales, with1⁄2 quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance ofpaper money, with the first issues being overprints on notes of the Central Bank. Except for the introduction of 50 quetzal notes in 1967, the denominations of banknotes remained unchanged until1⁄2 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 inMayan numerals, representing Guatemala's cultural history.
The Bank of Guatemala has introduced apolymer banknote of 1 quetzal on August 20, 2007, followed by a 5 quetzal polymer banknote on November 14, 2011. Both the 1 and 5 quetzal notes are once again on a paper substrate as of 2024.