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 visual is sorely undervalued in modern scholarship. Art history has attained only a fraction of the conceptual sophistication of literary criticism.... Drunk with self-love, criticism has hugely overestimated the centrality of language to western culture. It has failed to see the electrifying sign language of images.”
—Camille Paglia (b. 1947)
“Anything in history or nature that can be described as changing steadily can be seen as heading toward catastrophe.”
—Susan Sontag (b. 1933)
“It’s a very delicate surgical operation—to cut out the heart without killing the patient. The history of our country, however, is a very tough old patient, and we’ll do the best we can.”
—Dudley Nichols, U.S. screenwriter. Jean Renoir. Sorel (Philip Merivale)