History
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 peso. Until 1987, the quetzal was pegged to and domestically equal to the United States dollar and before the pegging to the US dollar, it was pegged to the French franc as well, since the quetzal utilized the gold standard.
Read more about this topic: Guatemalan Quetzal
Famous quotes containing the word history:
“The history of the world is the record of the weakness, frailty and death of public opinion.”
—Samuel Butler (1835–1902)
“Racism is an ism to which everyone in the world today is exposed; for or against, we must take sides. And the history of the future will differ according to the decision which we make.”
—Ruth Benedict (1887–1948)
“The history of every country begins in the heart of a man or a woman.”
—Willa Cather (1876–1947)