Guatemala, a country rich in history and natural beauty, offers travelers an unforgettable experience filled with ancient Mayan ruins, vibrant markets, and stunning landscapes. To fully enjoy your journey through this Central American gem, it’s essential to understand the local currency: the Guatemalan quetzal (GTQ). Named after the resplendent quetzal bird, this currency reflects the country’s cultural heritage and is crucial for navigating daily transactions.

Currency Overview

The Guatemalan quetzal is abbreviated as GTQ and is subdivided into 100 centavos. The currency symbol is Q, which you will see frequently when shopping or dining in Guatemala. The quetzal has been the official currency since 1925 and has undergone various changes throughout its history, including a period when it was pegged to the U.S. dollar.

Banknote Denominations:

• Q1
• Q5
• Q10
• Q20
• Q50
• Q100
• Q200

Coin Denominations:

• 1 centavo
• 5 centavos
• 10 centavos
• 25 centavos
• 50 centavos
• Q1
• Q5
• Q10
• Q20

The banknotes feature colorful designs that celebrate Guatemala’s rich cultural heritage, including images of the national bird and historical figures.

Currency History

The quetzal’s history is intertwined with Guatemala’s journey to independence. Initially, the Spanish real was used during colonial times until Guatemala gained independence in 1821. The country then adopted several currencies, including the Guatemalan peso in 1859. It wasn’t until 1925 that the quetzal was officially established as the national currency. Initially pegged to the U.S. dollar at a 1-to-1 ratio, this arrangement ended in 1987 when the quetzal was allowed to float freely against other currencies.

Usage Guide

Exchanging Currency

When traveling in Guatemala, you will need to exchange your money for quetzales. Here are some options for obtaining GTQ:

1. ATMs: Widely available in cities and tourist areas, ATMs are a convenient way to withdraw cash. Ensure your card has a 4-digit PIN and inform your bank about your travel plans to avoid any issues.
2. Banks: Major banks like Banco Industrial and Banco G&T Continental offer currency exchange services. Bring your passport for identification.
3. Currency Exchange Offices: These are commonly found in tourist areas and often provide competitive rates compared to banks.
4. Hotels: Some hotels may offer currency exchange, but rates can be less favorable than those at banks or exchange offices.

Tips for Travelers

• Cash is King: While credit cards are accepted in major tourist areas and upscale establishments, many places—especially rural markets—prefer cash transactions. Always carry a sufficient amount of cash for daily expenses.
• Know Your Rates: Familiarize yourself with current exchange rates before traveling to ensure you get a fair deal when exchanging money.
• Avoid Dynamic Currency Conversion: When given an option to pay in USD instead of GTQ at an ATM or during purchases, always choose GTQ to avoid unfavorable conversion rates.
• Small Denominations: Keep some smaller bills handy for minor purchases and tips, as larger bills may not be accepted everywhere.
• Secure Your Cash: Use money belts or secure pouches to carry your cash safely, especially in crowded areas where pickpocketing can occur.

By understanding how currency works in Guatemala and planning accordingly, you can enjoy your trip without financial stress. Whether you’re exploring the bustling streets of Antigua or hiking through lush jungles, having a solid grasp of the quetzal will enhance your travel experience in this beautiful country.

Also see World Currencies