Guatemalan quetzal 5, 10, 20 and 100 quetzales, with quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance of paper money, with its first issues being overprints on notes of the Central Bank. Except for the introduction of 50 quetzales notes in 1967, the denominations of banknotes were unchanged until and 1 quetzal coins replaced notes at the end of the 1990s. In the top-right corner of the obverse face of each banknote, the value is displayed in Mayan numerals, representing Guatemala's cultural history. The Bank of Guatemala has introduced a polymer banknote of 1 quetzal
History of monetary policy in the United States planners at Bretton Woods established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which today is part of the World Bank Group. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S. dollar and the ability of the IMF to bridge temporary imbalances of payments. In 1971, President Richard Nixon took a series of economic measures that collectively are known as the Nixon Shock. These measures included unilaterally cancelling the direct convertibility of