1. What is the official currency of Guatemala?

The official currency of Guatemala is the Guatemalan quetzal.

2. Are there any restrictions on foreign currency transactions in Guatemala?

There are currently no restrictions on foreign currency transactions in Guatemala. The country’s exchange rate is determined by the free market, and there are no regulations on the amount of foreign currency that can be brought in or taken out of the country. However, any transactions over $10,000 must be reported to the authorities for security purposes. Additionally, banks and other financial institutions may require identification when conducting large currency exchanges or wire transfers.

3. What is the current exchange rate for local currency to US dollar in Guatemala?

As of September 2021, the current exchange rate for the Guatemalan quetzal (GTQ) to US dollar (USD) is approximately 7.73 GTQ per USD. This means that 1 USD is equivalent to 7.73 GTQ. However, exchange rates constantly fluctuate, so it is important to check with a bank or currency converter for the most up-to-date exchange rate.

4. Is it better to use cash or credit cards for purchases in Guatemala?

It is generally recommended to use a combination of cash and credit cards while in Guatemala. Credit cards are accepted at many restaurants, hotels, and larger stores, but may not be accepted at smaller establishments or markets. Additionally, some places may charge a fee for using a credit card. It’s always a good idea to carry some cash for smaller purchases and places that do not accept credit cards. It is also important to inform your bank or credit card company of your travel plans before going to Guatemala to avoid any issues with using your card abroad.

5. Do businesses in Guatemala typically accept US dollars or do they prefer local currency?

The official currency of Guatemala is the Guatemalan quetzal (GTQ), and it is the most commonly used currency for transactions in the country. While some businesses may accept US dollars, particularly in tourist areas, it is recommended to use local currency for everyday purchases. Additionally, many businesses may offer a less favorable exchange rate if paying with US dollars. It is best to exchange currency at a bank or official exchange office before conducting transactions in Guatemala.

6. Are there any hidden fees or charges when exchanging money in Guatemala?

It is possible for money exchange services to charge fees or commissions for exchanging currency in Guatemala. It is important to check with the specific exchange service beforehand to understand any potential charges. Additionally, some credit or debit cards may charge international transaction fees when used in another country. It is important to check with your bank or credit card company for more information about these potential charges.

7. Can I use ATMs from my home country bank in Guatemala to withdraw money?

It depends on your home country bank and whether they have an international ATM network. Some banks may have partnerships with banks in Guatemala, allowing for free or low-cost withdrawals at certain ATMs. It is best to check with your bank before traveling to see if this option is available to you. Additionally, you may be able to use major international networks such as Visa or Mastercard at ATMs in Guatemala, but there may be fees associated with these transactions.

8. Is it necessary to tip service workers and what is the customary amount in Guatemala?

Yes, it is customary to tip service workers in Guatemala. While there is no set percentage or amount, a general guideline is to leave 10% of the total bill at restaurants, and about $1-2 USD for other services such as taxi rides or hotel staff. However, feel free to adjust the amount based on the quality of service received. Tipping is also appreciated for tour guides and drivers, typically around $5-10 USD per person per day.

9. Can I purchase traveler’s checks before traveling to Guatemala, and are they widely accepted?

Yes, you can purchase traveler’s checks before traveling to Guatemala. They are widely accepted at banks, major hotels, and some larger stores and businesses. However, it is recommended to bring a combination of cash (in both US dollars and the local currency, Quetzales) and credit/debit cards for convenience.

10. Are there any restrictions or limits on bringing foreign currency into or out of Guatemala?

According to the Guatemalan Customs Law, there are no restrictions or limits on bringing foreign currency into or out of Guatemala. However, travelers are required to declare any amount of currency exceeding $10,000 USD upon arrival or departure. Failure to do so may result in fines or confiscation of the undeclared funds. It is also recommended to keep copies of all currency exchange receipts for proof of origin in case of a customs inspection.

11. Do major hotels and restaurants accept credit cards, and if so, which types are most commonly accepted?

Yes, most major hotels and restaurants do accept credit cards. The most commonly accepted types are Visa and Mastercard, followed by American Express and Discover. However, it is always recommended to inquire about accepted payment methods before dining or staying at a particular establishment.

12. Are there any unique features of the currency used in Guatemala, such as coins with different values or special designs?

The currency used in Guatemala is the Guatemalan quetzal (GTQ). While there are no coins with different values, there are some unique designs on certain denominations of bills.

1. The 1 quetzal bill features a portrait of the national hero, Tecún Umán.
2. The 5 quetzal bill features a portrait of Maya ruler K’inich Janaab’ Pakal.
3. The 10 quetzal bill features a portrait of Maya queen Yax Kan Ajaw.
4. The 20 quetzal bill features a portrait of Miguel García Granados, one of the founding fathers of Guatemala’s independence.
5. The 50 quetzal bill features a portrait of José Cecilio del Valle, another founding father of Guatemala’s independence.
6. The 100 and 200 quetzal bills feature portraits of different mayan figures and artifacts.

13. Is haggling acceptable when making purchases, especially in markets and smaller shops?

Haggling, or negotiating for a lower price, is often acceptable in markets and smaller shops. In many cultures, it is expected and considered a normal part of the purchasing process. However, it is important to be respectful and polite when haggling, as it is ultimately up to the seller to decide if they will offer a lower price. It is also important to have a general idea of the market value of the item you are interested in purchasing before starting to haggle.

14. Can I pay for goods and services with a mix of both local currency and US dollars?

Yes, you can generally pay for goods and services with a mix of both local currency and US dollars. However, the acceptance of US dollars as a form of payment may vary depending on the country and business you are dealing with. It is always best to check with the business beforehand to confirm their accepted forms of payment. In some cases, they may only accept one currency or may offer a better exchange rate if you pay in the local currency.

15. What is the most convenient way to exchange money while traveling through different regions of Guatemala?

The most convenient way to exchange money while traveling through different regions of Guatemala is by using ATMs or exchanging cash at banks or official currency exchange offices.

16. Are there alternative forms of payment in addition to cash and credit cards, such as mobile payments or digital wallets in Guatemala?

Yes, there are alternative forms of payment in Guatemala. Mobile payments and digital wallets are becoming increasingly popular in the country. Some examples include Banco Industrial’s mobile wallet Billetera Movil and Xoom, a service that allows users to send money from their bank account or credit/debit card to be deposited into someone else’s local bank account or withdrawn as cash at various locations in Guatemala.

Additionally, many large stores and restaurants now accept digital payments through services like PayPal and Samsung Pay.

However, it is important to note that these alternative forms of payment may not be widely accepted in smaller, more rural areas of Guatemala. It is always recommended to have some cash on hand for smaller purchases and transactions.

17. Is tipping expected during taxi rides, at hotels, or at other specific locations like spas or salons in Guatemala?

Tipping is generally expected in Guatemala, although the exact amount may vary. In taxis, it is common to round up to the nearest whole quetzal as a tip. At hotels and resorts, a 10-15% gratuity for services such as housekeeping and bellhops is customary. In spas and salons, a 10-15% tip for the service provider is standard. However, tipping is not mandatory and should only be given if you are satisfied with the service.

18. Are there certain stores where tourists can receive tax refunds on their purchases before leaving Guatemala?

Yes, tourists can receive tax refunds on their purchases at designated stores known as “Tax Free Shops.” These stores are approved by the Guatemalan Tax Administration and usually have a sign or sticker indicating this. You will need to present your passport and purchase receipts at the store to receive the refund. Please note that not all stores offer tax refunds, so it is best to ask before making purchases.

19..How should I handle my leftover foreign currency when departing from Guatemala, including coins and smaller bills?

When departing from Guatemala, here are some tips for handling your leftover foreign currency:

1. Use it for small purchases: Before leaving Guatemala, try to use up your leftover coins and smaller bills for small purchases like snacks or souvenirs. This will help you get rid of the excess currency and save you from carrying it back home.

2. Exchange it at the airport: Most international airports in Guatemala have currency exchange services that accept both bills and coins. Look for a reliable exchange service with a reasonable exchange rate to convert your remaining currency into your home currency.

3. Keep it as a souvenir: If the amount of leftover currency is not significant, you may want to keep it as a souvenir of your trip. Many people collect foreign coins and bills as mementos, so consider adding them to your collection.

4. Donate it: If you have a larger amount of leftover currency, consider donating it before leaving Guatemala. You can donate it to local charities or organizations that accept foreign currency donations.

5. Save it for your next trip: Another option is to save the leftover currency for your next trip to Guatemala or any other country that uses the same currency. This way, you don’t have to worry about exchanging money again when you visit next time.

Remember to check with your bank or credit card company if they offer any buy-back programs for foreign currency before leaving Guatemala. Also, make sure to keep all receipts and documents related to your foreign exchange transactions for future reference and record-keeping purposes.

20. Is there a limit on the amount of local currency I can withdraw from ATMs in Guatemala each day?

Yes, there is usually a daily limit on the amount of local currency that can be withdrawn from ATMs in Guatemala. This limit may vary depending on the bank and type of account linked to the ATM card. It is best to check with your bank to determine the specific limit for your account.