20 Quetzales

The Banco de Guatemala's 1992 series was produced by BA International Inc. in Ottawa — the successor identity to the British American Bank Note Company, which had rebranded following a period of financial difficulty in the late 1980s. Guatemala had been a BABN client for decades, and the relationship continued through the transition despite the corporate turbulence in Canada.

By 1992, Guatemala's economy was still recovering from years of civil conflict and the hyperinflationary pressures of the mid-1980s, when the quetzal's peg to the US dollar had collapsed entirely. The 20-quetzal denomination sat at a meaningful middle value in daily transactions during the early liberalization period under President Serrano Elías.