1 Quetzal

The P#66 series ran through much of the 1980s, a period when Guatemala was cycling through military juntas and transitional governments at a pace that made consistent monetary policy difficult. The Banco de Guatemala kept this low denomination deliberately stable in design across the print run — changes overhead didn't always filter down to the smaller notes.

Giesecke & Devrient had held printing contracts with Guatemala for decades by this point, and the Munich relationship was well-established. Watermark security on a 1 Quetzal was modest but adequate given the note's limited purchasing power by the late 1980s, when inflation was eroding the lower denominations faster than they could be reissued.