Complex sentence: Until 1987, the quetzal was pegged to and domestically equal to the United States dollar and before the pegging to the US dollar, it was pegged to the French franc as well as it (the Guatemalan quetzal) utilized the gold standard.
Split into simpler sentences: Until 1987, the quetzal was pegged to and domestically equal to the United States dollar. Before that it was pegged to the French franc, and utilized the gold standard.