![\"Resplendent_Quetzal\"](\"http:\/\/www.pottershome.org\/wp-content\/uploads\/2009\/08\/Resplendent_Quetzal-137x300.jpg\" "\\"Resplendent_Quetzal\\"")
This post may be a little boring to some, but I find it interesting!<\/p>\nThis post may be a little boring to some, but I find it interesting!<\/p>\n
The currency used in Guatemala is named after the national bird of Guatemala, the quetzal, and to the right is a picture of a quetzal in the wild. \u00a0I\u2019ve never actually seen one as they are very rare, but quetzales have the longest feathers of all animals.<\/p>\n
Here in the U.S. we\u2019re in a recession, and I\u2019ve been asked how that affects countries like Guatemala. \u00a0Well, I\u2019m not an economics expert, but I do know that Guatemala\u2019s economy is very closely tied to ours. \u00a0A large part of their economy is agricultural exports like coffee, bananas, sugar, and other produce. They also have large number of clothing factories that export here. \u00a0But the surprising thing is that the largest source of income is\u00a0actually\u00a0from Guatemalans living here\u00a0 in the U.S. and sending money back home!<\/p>\n
So a recession here means that we buy less from them, and also that there are more Guatemalans here unable to send money back. \u00a0I\u2019ve been watching the exchange rate between dollars and Quetzales, and since I was last visiting over Thanksgiving, the rate has gone from about 7.5 up to 8.2 quetzales per dollar. \u00a0Here\u2019s a plot below of the exchange rate over the last 5 years, and you can see how much it\u2019s risen since last year.<\/p>\n
I feel bad saying this when this graph shows that their economy has been having troubles, but it also means that compared to last time I was there, the value of the money that I\u2019ve been saving for a Guatemalan house has risen by about 10%!<\/p>\n
This post may be a little boring to some, but I find it interesting! The currency used in Guatemala is named after the national bird of Guatemala, the quetzal, and to the right is a picture of a quetzal in the wild. \u00a0I\u2019ve never actually seen one as they are very rare, but quetzales have … Continue reading Quetzales<\/span> ![\"GTQ](\"http:\/\/www.pottershome.org\/wp-content\/uploads\/2009\/08\/5y.png\" "\\"GTQ")
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