Currency in Guatemala

The Guatemalan Quetzal (GTQ)

Understanding the Local Currency

• The official currency is the Guatemalan Quetzal, denoted by the symbol “Q“.
• Common denominations you will encounter include:
  • Banknotes: Q1, Q5, Q10, Q20, Q50, and Q100. The Q200 note is also in circulation but is less common, so do not be surprised if smaller vendors are hesitant to accept it.
  • Coins: 1, 5, 10, 25, 50 centavos, and the Q1 coin.
• The currency is pronounced “ket-SAL”, and its plural form is “quetzales”.

Obtaining Local Currency

ATMs (Cajeros Automáticos)

Using an ATM is typically the most convenient way to obtain quetzales and generally offers the best exchange rate.

• Availability: ATMs are widespread in cities and major tourist towns such as Antigua, Panajachel, and Flores. They become scarce in smaller, more remote villages, so plan accordingly.
• Recommended Banks: For greater reliability and security, we suggest using ATMs affiliated with major banks. Look for the logos of 5B, BI (Banco Industrial), or BAC Credomatic.
• Withdrawal Limits: Be mindful of daily withdrawal limits, which are set by both your home bank and the local ATM. Local machines often have a per-transaction limit of around Q2,000 to Q3,000.
• Fees: You can expect a fee from the local ATM for each transaction. This is in addition to any foreign transaction or out-of-network fees your own bank may charge. We strongly advise you to contact your bank before your trip to inquire about their fee structure and, crucially, to inform them of your travel dates to prevent your card from being blocked for suspicious activity.

Exchanging Cash

• Where to Exchange: For your security, only exchange money at established banks or official casas de cambio (exchange houses). Avoid individuals on the street offering currency exchange services.
• Best Currency to Bring: US Dollars are by far the most widely accepted and easiest foreign currency to exchange. Banks are particular about the condition of bills; bring crisp, new notes that are free of any tears, marks, or excessive folding.
• Airport Exchange: While convenient upon arrival, exchange rates at the airport are typically less favorable than those found in town. We suggest exchanging only a small amount (e.g., $50 USD) at the airport to cover initial expenses like a taxi or a snack.

Using Credit and Debit Cards

• Acceptance: Major credit and debit cards (Visa and Mastercard are most common) are widely accepted in larger hotels, upscale restaurants, tour agencies, and modern supermarkets in urban areas.
• Cash is King: For the majority of your daily transactions, cash is essential. Smaller guesthouses, local eateries (comedores), market stalls, tuk-tuks, and nearly all businesses in rural areas operate on a cash-only basis.
• Surcharges: It is not uncommon for businesses to add a surcharge, typically between 5-7%, to your bill when you pay with a credit card. This is to cover the processing fees they incur.
• Dynamic Currency Conversion (DCC): If a card terminal offers you the choice to be charged in your home currency or in the local currency (GTQ), always choose the local currency. This practice, known as DCC, allows the merchant’s bank to set the exchange rate, which is almost always less favorable than the rate set by your own bank. Always select GTQ to ensure the best rate.

Practical Money Usage

Cash vs. Card Strategy

• A Recommended Mix: The best approach is a hybrid one. Rely on ATMs for your primary source of cash, withdrawing what you need for a few days at a time. Use your credit card for larger, pre-planned expenses such as final hotel payments or significant tour bookings where card acceptance is confirmed.
• Carrying Cash: Always carry a mix of denominations. Small bills (Q5, Q10, Q20) are indispensable for paying for tuk-tuks, buying street food, or shopping in local markets, as vendors frequently cannot make change for a Q100 bill for a small purchase.

A Note on US Dollars

• Limited Acceptance: While some high-end hotels, tour operators, and shuttle services catering to tourists may quote prices and accept payments in US Dollars, this is the exception rather than the rule.
• Change: If you do pay in USD, expect to receive your change in Quetzales. The exchange rate used for this transaction will be at the vendor’s discretion and is unlikely to be in your favor.
• General Rule: For simplicity, better value, and as a sign of respect for the local economy, it is always best to pay for goods and services in the local currency.

Tipping Etiquette

• Restaurants: At mid-range and upscale restaurants, a 10% service charge (propina) is often automatically included in the bill. Check your receipt. If service is not included, a 10% tip is customary for good service. Tipping is not expected at small, local comedores.
• Tour Guides & Drivers: Tipping is a standard and much-appreciated practice. For a full-day guide, a tip of Q40-Q80 (approximately $5-$10 USD) per person is a good guideline. For a private driver, a similar amount is appropriate.
• Hotel Staff: A tip of Q10-Q20 for a porter who assists with your luggage or for the housekeeping staff is a thoughtful gesture.
• Tuk-tuks/Taxis: Tipping is not customary for short rides, but it is common to round up the fare to the nearest Quetzal.

Budgeting and Safety

Sample Costs

To help you plan your daily budget, here are some estimated costs for common items. Please note that prices can vary by location.

• A bottle of water (1L): Q5 – Q10
• A local beer (Gallo): Q15 – Q25
• A simple meal at a comedor: Q25 – Q40
• A three-course meal at a mid-range restaurant: Q100 – Q150
• A short tuk-tuk ride within a town like Antigua: Q10 – Q20

Money Safety Tips

• Only carry the amount of cash you anticipate needing for the day, leaving the rest secured in your hotel safe.
• Consider using a money belt or a secure, concealed pouch for the bulk of your cash, cards, and passport.
• Be discreet when handling money. Avoid flashing large amounts of cash, especially in crowded places like markets or bus stations. Be aware of your surroundings when using an ATM.
• Keep a backup credit or debit card and a small amount of emergency cash stored separately from your primary wallet as a precaution.