2024-08-27 18:13:34
This Monday, August 26th, the authorities of the Bank of Guatemala They officially presented the commemorative 1 quetzal banknote by the One hundred years since the creation of the monetary unit of GuatemalaThis banknote will enter circulation in September 2024 and will have some new features. We tell you more!
The commemorative 1 quetzal bill was officially presented for the 100th anniversary of the creation of the monetary unit of Guatemala
He Banco de Guatemala —BOOK— has announced the issuance of a New commemorative 1 quetzal bill to celebrate the Centenary of the Guatemalan monetary unit. Maintaining several of its features, but with a renewed design and improvements in security, this bill honors the 100 years since the creation of the quetzal in 1924, which allowed Guatemalans to have their own currency to carry out different transactions without the need to resort to foreign currency.
In addition to the commemorative banknoteA commemorative coin will also be issued in the following weeks and various activities related to the history of the monetary unit will be held.
When will the new one quetzal bill go into circulation in Guatemala?
The new commemorative banknote will enter circulation on September 10, 2024, with a total of 25 million units issued. Guatemalans will be able to acquire this banknote through banks in the financial system, requesting it when making transactions such as cashing checks or withdrawing cash.
Features of the new banknote
The design of the new commemorative banknote maintains the essence of its predecessors, respecting the provisions of the Monetary Law, Decree 17-2002 of the Congress of the Republic. However, it incorporates some changes in its art, design and security. This banknote, the second commemorative in the history of the Bank of Guatemala, is made of cotton fibers and its security measures are superior to those of any other banknote issued by the Bank of Guatemala.
Among the new features is the security patch featuring the figure of the Santa Catalina Arch. This element changes from 1924 to 2024 when the note is tilted, and its color varies from gold to blue under natural light. In addition, the front of the note includes areas of high relief printing and a touch device designed especially for people with visual impairments.
It also features details that are only visible under ultraviolet light, such as synthetic fibrils and ink that is invisible to the naked eye. Its green color highlights the images of General José María Orellana on the obverse and a modernized depiction of the Bank of Guatemala on the reverse, which includes the surrounding buildings instead of the trees of the previous design. The Guatemalan flag was also included as a perfect registration of the printing on both sides.
A little history about the Quetzal monetary unit in Guatemala
Before the introduction of the Guatemalan currency, the Maya used quetzal feathers, salt, obsidian, jade and cacao as means of exchange. After the Conquest, Spanish currency was adopted as a reference, although the scarcity of these coins led to the manufacture of pieces in other countries of America. In the Republican era, under the government of Rafael Carrera, the “peso” was introduced as the official currency. During the last 30 years of the 11th century, the decimal system was adopted and paper money was issued.
The creation of the quetzal in 1924, under the Monetary and Conversion Law, represented the adoption of the gold standard and established the quetzal. This marked the birth of the Central Bank of Guatemala, which assumed exclusive control of currency issuance.
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