10 Quetzales

The Banco de Guatemala transitioned to the Canadian Bank Note Company for much of its modern production, a relationship that brought consistent intaglio quality to the quetzal series through the 1990s. By 1995, Guatemala's banking system had survived decades of monetary stress — including the inflationary pressures of the 1980s civil conflict period — and this issue circulated during a relatively stable phase following structural adjustment programs negotiated with the IMF earlier that decade.

P#89 is part of a long-running series format that saw incremental security upgrades rather than full redesigns. The security thread on this issue is a simple embedded strip, predating the more sophisticated windowed threads that would appear in later Guatemalan issues.