Dame un Quetzal
As the Canadian dollar soars, actually reaching parity with the US dollar yesterday, I present another currency.
It's the Quetzal. Until recently, it was a coin (well, before that it was a bill). But it turns out that the coin cost more than 1 Quetzal to make because of the expensive material. So it actually cost 1.2Quetzales to make them. Hence, the return to the 1 Quetzal bill. 
I wonder how many of the 1Q coins they made at a loss before they figured it out. Friends say they can't find any really recent coins, so maybe that huge mistake was never made.
I like the new bills. The funky hole on the one side, the that texture that keeps them looking newer (but which forces me to triple-check whether it's more than one bill I'm holding). And you should see the sorry state of the other bills in this country. Yikes! The problem with beaten up bills is that stores and market vendors won't take them, so you're stuck trying to pay somewhere with an ugly bill. Sometimes I've just had to go to a bank to exchange them.
So, congratulations, Canadian dollar (or is it more a case of sorry you're tanking, US dollar?). Whatever it is, keep it up until my trip is over, because it makes things cheaper for me here.
posted by It's me LD @ 9:00 AM
8 Comments
8 Comments:
Have you seen any un centavo (0.01 GTQ) coins? I think I didn't see any last month. They were also made with copper eons ago and then became this semi-plastic silvery thingies (probably the ones you knew when you use to live in Xela). I missed the launch of the new one quetzal bill so be sure to bring one to check it up. :-)
I think the "loonie" has its own strength beyond the weak US$ because it has gained value against other currencies, although maybe not as much as with the good ol'greenback.
Partly true... we've gained a great deal only against currencies that are also tied to the USD. Exchange with the Pound and Euro have gained slightly but not as much-- Canada is in a position of relative strength right now.
Am taking finance right now-- this is what everyone is talking about!
L, your trip should go well financially, analysts are expecting the $CDN to exceed the USD in the coming weeks.
I concur with talia. We are up only marginally against the Euro in the past year.
Also, did you know the Canadian penny costs more than a cent to make and has for quite sometime? I think even the nickel might cost more than 5c (not sure about that one though).
-A
Thank you, financial experts. Hmm... un centavos... I think I have some, actually.
For now I have to get used to converting from a currency where 530=$1. That's too much math for me.
I remember when the Canadian dollar was worth $1.10 U.S. Man am I old!!
You will now be enjoying cheaper imported goods but Canadian Manufacturing will take a hit just like the U.S. did.
The Euro is going crazy and pretty soon there will be no American tourists over there and their manufactured goods will suffer as well.
Crazy stuff.
LD, one thing you forgot to mention about the new PLASTIC Quetzal bill is that below the number 1 on the lower left corner it reads: CANADIAN BANK NOTE.
Is that a coincidence or are Canadian taking over the world now? You've got the gold now... ;-)
What kind of STRANGE BREW are you guys brewing up there?
@Tom
you are not far off regarding tourists in Europe, I was on a plane from NYC to London lastweek and I didnt see a single American in the row where I was at, they were all UK people
The colon has totally stabilized this year so you can make it 1 US for 520 (hopefully for a good while), suposedly our currency is undervalued at it should be less than 500 (but our manufacturing sector would take a hit so economists like it where it is now)
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