Título II. Convertibilidad, movilidad de capitales y reservas monetarias internacionales

The external convertibility of the national currency, as well as the mobility of capital, is free.

The international monetary reserves of the Bank of Guatemala shall consist of the following assets:

a)Gold;

b)Foreign banknotes and coins accepted as a means of international payment;

c)Foreign currency deposits, both demand and time deposits, in international financial institutions or in foreign banks determined by the Monetary Board;

d)First-class, liquid securities or instruments issued by foreign governments of recognized solvency, international organizations, and corporations or financial institutions determined by the Monetary Board;

e)The country's Special Drawing Rights in the International Monetary Fund;

f)Contributions to international financial organizations when they are internationally considered reserve assets; and,

g)Other assets that the Monetary Board may qualify, in accordance with the circumstances arising from the evolution of the instruments of the international financial market.

The international monetary reserves are exempt from attachment and shall not be subject to precautionary, administrative or judicial measures. Nor shall they be subject to the payment of any taxes, levies or special contributions.