Definition of "quetzal"
quetzal
noun
plural quetzals or quetzales
A monetary unit used in Guatemala, equal to 100 centavos.
Quotations
In 2002 Guatemala officially declared the U.S. dollar as legal tender to circulate in parallel to the national currency, the quetzal. This is not likely to last for long as the quetzal is not widely accepted and is considered a weak store of value.
2005, Anastasia Xenias, “Dollarization: The End of Monetary Pluralism in South America?”, in Avery Plaw, editor, Frontiers of Diversity: Explorations in Contemporary Pluralism, page 109
In this situation, they chose a policy mix of moderate monetary tightening, tight fiscal policy, and central bank intervention in the foreign exchange market to prevent excessive appreciation of the quetzal, without pursuing an exchange rate target […] .
2005, International Monetary Fund, Guatemala: 2005 Article IV Consultation - Staff Report, unnumbered page
To cope with the subsequent mounting pressures on the domestic currency, the Bank of Guatemala (Banguat) started to intervene in the foreign exchange market to moderate the quetzal depreciation and tightened monetary policy.
2007, Charles Enoch, Karl Habermeier, Marta de Castello Branco, editors, Building Monetary and Financial Systems: Case Studies in Technical Assistance, International Monetary Fund, page 105