The official currency of Guatemala is the Guatemalan Quetzal (GTQ), which is subdivided into 100 centavos. The quetzal is a free-floating currency, but it was once pegged to the U.S. dollar and before that adhered to the gold standard. The Central Bank of Guatemala, established in 1926, issued the currency at a rate of 1 quetzal to 60 pesos at the time. The government initially linked the currency to the gold standard and then later pegged it to the U.S. dollar at par. Since 1987, the central bank has allowed the quetzal’s exchange rate to float freely against foreign currencies.

The Guatemalan quetzal is available in the following denominations: 1, 5, 10, 20, 50, 100, and 200 quetzal banknotes, as well as 1, 5, 10, 25, 50 centavo coins, and finally, a 1-quetzal coin. The quetzal has been quite stable over the last decade, hovering between Q 7.5–7.7 to $1 USD. The US dollar is widely accepted in Guatemala, but it is still recommended to have Guatemalan quetzals on hand at all times. ATMs are available throughout most of Guatemala and are easily accessible for international travelers. It is recommended that you have some cash for everyday spending like food, tipping, or tours and activities. ATMs usually charge a fee for foreign credit and debit cards.