The quetzal ( locally [keˈtsal] ; code : GTQ ) is the currency of Guatemala , named after the national bird of Guatemala, the resplendent quetzal . In ancient Mayan culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 centavos, or len (plural lenes ) in Guatemalan slang . The plural is quetzales .
15-562: The quetzal was introduced in 1925 during the term of President José María Orellana , whose image appears on the obverse of the one-quetzal bill. It replaced the Guatemalan peso at the rate of 60 pesos = 1 quetzal. Until 1987, the quetzal was pegged to and domestically equal to the United States dollar . In 1925, coins in denominations of 1, 5, 10 centavos, 1 ⁄ 4 , 1 ⁄ 2 and 1 quetzal were introduced, although
30-480: A coup d'état against president Carlos Herrera who had resisted to approve the concessions granted to the United Fruit Company and its subsidiaries by his predecessor, Manuel Estrada Cabrera . Orellana had the help of several army officers, among them general Jorge Ubico . On 5 December 1921, Orellana was appointed as Interim President , and eventually became Constitutional President after winning
45-509: A special edition that day. These strange circumstances led to the suspicion that he was poisoned. General Lázaro Chacón assumed as interim President and immediately lifted Martial Law and allowed private newspaper to be published again. direct central rule, 1826–27 Lorenzo Mont%C3%BAfar y Rivera Too Many Requests If you report this error to the Wikimedia System Administrators, please include
60-619: The Central Bank of Guatemala in denominations of 1, 2, 5, 10, 20 and 100 quetzales, with 1 ⁄ 2 quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance of paper 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 until 1 ⁄ 2 and 1 quetzal coins replaced notes at
75-489: The Constitution; the main reason for such decision was that "insidious and unpatriotic activities of certain elements" tended "to disrupt the peace and development of the country", which, at once, made it impossible to solve the national economic problem. Although El Imparcial was not circulating regularly in the previous days -due to a government boycott-, after 26 May it ceased publication indefinitely. Thereafter, only
90-748: The Guatemalan capital with state honors. José María Orellana Pinto was born in El Jícaro ; he was the son of Esteban Orellana and Leonora Pinto. Orellana had a military career becoming General of the Guatemalan Army. He was elected to the Guatemalan legislature on several occasions, as a member of the Liberal Party, and was also Chief of Staff of the President Estrada Cabrera; when serving as such, on 29 April 1907, he
105-399: The contract; after Herrera was overthrown, Orellana ratified the contract on 10 March 1922. The Guatemalan Congress issued the following laws during his term in office: On 25 May 1926, El Imparcial -a private newspaper- had published a news flash: Martial law enacted which referred to executive decree 916, in which President Orellana had suspended the individual guarantees contained in
120-529: The elections the following year. During his term in office, he ratified concessions that the government of Estrada Cabrera had made to the United Fruit Company (UFCO) and that Herrera had refused to ratify. He also encouraged the creation of a tripartite republic formed by Guatemala, Honduras and El Salvador , but this was unsuccessful. In 1923, in celebration of the birth centennial of liberal writer and ideologist Dr. Lorenzo Montúfar y Rivera ,
135-487: The end of the 1990s. In the top-right corner of the obverse face of each banknote, the value is displayed in Mayan numerals , representing Guatemala's cultural history. The Bank of Guatemala has introduced a polymer banknote of 1 quetzal on August 20, 2007, followed by a 5 quetzal polymer banknote on November 14, 2011. Jos%C3%A9 Mar%C3%ADa Orellana José María Orellana Pinto (11 July 1872 – 26 September 1926)
150-645: The government erected a monument to his memory in Avenida Reforma . Gum raw material extraction in the northern department of Petén was sold to Percy W. Shufeldt, who carried out the operation without paying taxes; unlike his predecessor—Carlos Herrera—Orellana gave favorable contracts such as the Shufeldt one to foreign companies. Another examples was the Electric Company, which had been expropriated from German shareholders after World War I , and
165-488: 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's national coat of arms on the obverse. The coins, and their reverse designs are: The first banknotes were issued by
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#1732783512440180-415: The official news outlets, such as Diario de Centro América and El Guatemalteco , could circulate, carrying irrelevant information. The story took a sudden turn on Sunday 26 September when, at 0:15 pm, Orellana died during a vacation trip to Antigua Guatemala ; he was in a room at Hotel Manchén. "A violent angina attack ended the life of our illustrious president," explained Diario de Centro America in
195-462: Was a Guatemalan political and military leader. He was chief of staff of President Manuel Estrada Cabrera and President of Guatemala between 1921 and 1926, after overthrowing Conservative Unionist President Carlos Herrera . During his rule the Quetzal was established as the currency of Guatemala. Orellana Pinto died under suspicious circumstances in 1926 at the age of fifty-four. He was buried in
210-426: Was riding alongside the president's coach when the latter suffered a bomb attack -which had been planned by the brothers Avila Echeverría and some of their relatives and friends-. Miraculously, both the president and Orellana were unharmed by the assassination attempt and almost immediately initiated the prosecution of the perpetrators. On 5 December 1921, general Orellana -sponsored by the United Fruit Company - lead
225-662: Was sold to the American Bond and Share Company on 4 May 1922. Orellana promoted the construction of hundreds of kilometers of railways and was pressured by the International Railways of Central America to enforce the Méndez-Williamson railroad contract, signed in 1908 by then president Manuel Estrada Cabrera . When Estrada Cabrera was ousted, IRCA had intended to enact this agreement but the acting president Carlos Herrera refused to implement
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