Paraguayan guaraní

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Paraguayan guaraní
Guaraní paraguayo (Spanish)
ISO 4217
CodePYG
Denominations
Subunit
 1/100céntimo (¢)
because of inflation, céntimos are no longer in use.
Pluralguaraníes
SymbolParag-guarani-G.svg (₲ in unicode)
Banknotes₲2,000, ₲5,000, ₲10,000, ₲20,000, ₲50,000, ₲100,000
Coins₲50, ₲100, ₲500, ₲1,000
Demographics
User(s) Paraguay
Issuance
Central bankBanco Central del Paraguay
 Websitewww.bcp.gov.py
PrinterDe La Rue
Giesecke & Devrient
Polish Security Printing Works [pl]
 WebsiteDe La Rue
Giesecke & Devrient
Polska Wytwórnia Papierów Wartościowych
MintBanco Central del Paraguay[citation needed]
 Websitewww.bcp.gov.py
Valuation
Inflation2%
 Source[1], November 2009 est.

The guaraní (Spanish pronunciation: [ɡwaɾaˈni], plural: guaraníes; sign: ; code: PYG) is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use.[when?]

The currency sign is U+20B2 GUARANI SIGN (HTML ₲).

History[edit]

The law creating the guaraní was passed on 5 October 1943, and replaced the peso at a rate of ₲1 = $P100. Guaraníes were first issued in 1944. Between 1960 and 1985, the guaraní was pegged to the United States dollar at ₲126 = US$1.

Coins[edit]

In 1944, aluminum-bronze coins were introduced in denominations of 1¢, 5¢, 10¢, 25¢ and 50¢. All were round shaped. The obverses featured a flower with "Republica del Paraguay" and the date surrounding it, except for the 50¢, which featured the lion and Liberty cap insignia. The denomination was shown on the reverses.

The second issue, introduced in 1953, consisted of 10¢, 15¢, 25¢ and 50¢ coins. All were again minted in aluminium-bronze but were scallop shaped and featured the lion and Liberty cap on the obverse. None of the céntimo coins circulate today.

In 1975, coins were introduced in denominations of ₲1, ₲5, ₲10 and ₲50, all of which were round and made of stainless steel. Since 1990, stainless steel has been replaced by brass-plated steel nickel-brass. ₲100 coins were introduced in 1990, followed by ₲500 in 1997. ₲1,000 coins were minted in 2006 and released in 2007.

Coins in denominations of ₲1, ₲5 and ₲10 and coins of ₲50, ₲100 and ₲500 guaranies minted until 2005 were demonetized.

Value Obverse Reverse Diameter (mm) Weight (g) First issued Obverse Image Reverse Image
₲50 Marshal José Félix Estigarribia Acaray Dam 19 1 1975
₲100 General José Eduvigis Díaz Ruins of Humaitá 21 3.73 1990 100 guaranies - reverso.jpg 100 guaranies - anverso.jpg
₲500 General Bernardino Caballero Central Bank of Paraguay 23 4.75 1997
₲1,000 Marshal Francisco Solano López National Pantheon of the Heroes 25 6 2006

Banknotes[edit]

The first guaraní notes were of 50¢, ₲1, ₲5, and ₲10 overstamped on $P50, $P100, $P500, and $P1,000 in 1943. Regular guaraní notes for ₲1, ₲5, ₲10, ₲50, ₲100, ₲500 and ₲1,000, soon followed. They were printed by De La Rue.

The 1963 series (under the law of 1952) was a complete redesign. The lineup also expanded upward with the addition of ₲5,000 and ₲10,000. The 1982 revision added denominations in the Guaraní language to the reverses.

The first ₲50,000 notes were issued in 1990, followed by ₲100,000 in 1998.

Starting from 2004, the existing denominations, except ₲50,000, underwent small but easily noticeable changes, such as a more sophisticated and borderless underprint and enhanced security features. Giesecke & Devrient print the new ₲20,000 note, while De La Rue prints the rest. In 2009, the Central Bank launched the first ₲2,000 polymer-made notes, which makes the notes more durable than the traditional cotton-fiber notes.

New ₲50,000 notes of series C have been printed with the date of 2005, but as they obviously reached circulation by criminal ways before being launched officially, this series has been declared void and worthless by the central bank[1] and notes of ₲1,000 and series A and B of ₲50,000 where demonetized in 2012.

A new ₲5,000 note has been released. The ₲5,000 was put into circulation on January 14, 2013. This note has been printed by The Canadian Bank Note Company. Such security features include a see through window in the shape of a locomotive, a watermark of the portrait. However this note will still bear the portrait of Don Carlos Antonio Lopez, the reverse will also have the same design of Lopez's Palace.[2][3] ₲10,000 as well as ₲20,000 notes are produced by Polish Security Printing Works (Polska Wytwórnia Papierów Wartościowych).[4]

On December 22, 2016, new ₲20,000, ₲50,000 and ₲100,000 notes were introduced with upgraded security.[5]

Value Color Obverse Reverse First issued Obverse Image Reverse Image
₲2,000 Magenta Adela and Celsa Speratti School parade 2008 2000 dos mil guaranies anverso.jpg 2000 dos mi guaranies reverso.jpg
₲5,000 Orange Carlos Antonio López Palace of the Lopez 1963
₲10,000 Brown José Gaspar Rodríguez de Francia May 15, 1811 scene 1963
₲20,000 Light blue Paraguayan woman Central Bank of Paraguay 2005
₲50,000 Beige Agustín Pío Barrios Guitar of Agustín Pío Barrios 1990
₲100,000 Green Saint Roque González de Santa Cruz Itaipú Dam 1998

Revaluation[edit]

The guaraní is currently one of the least valued currency unit in the Americas, US$1 being equivalent as of March, 2021, to ₲6,621.

In 2011, plans were released under which the Paraguayan guaraní would be revalued as the Nuevo guaraní ("New guaraní") (PYN) at the rate of 1,000:1.[6][7]

From day 1 (currently unknown), there would be a conversion at the rate of ₲1,000 = N₲1 ("nuevo guaraní"). After a two-year transition period (with N₲ as the currency sign), new banknotes with the lower value would be introduced, re-using the name guaraní (₲) for the lower value.[7]

However, due to possible confusion and problems with the projects, it is currently suspended.

Current PYG exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD BRL ARS
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD BRL ARS
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD BRL ARS
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD BRL ARS
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD BRL ARS

See also[edit]

References[edit]

  1. ^ "Archived copy". Archived from the original on 2012-07-20. Retrieved 2007-05-17.CS1 maint: archived copy as title (link)
  2. ^ "Paraguay new 5,000-guarani polymer note confirmed". Banknote News. 2013-02-21. Retrieved 2017-01-08.
  3. ^ "Presentan nuevo billete de 5 mil guaraníes". Ultimahora.com. Retrieved 2017-01-08.
  4. ^ "Więcej banknotów z Polski dla Paragwaju PWPW PL". Pwpw.pl. 2014-10-16. Archived from the original on 2014-12-09. Retrieved 2017-01-08.
  5. ^ "BCP autorizó la emisión de billetes con nuevas medidas de seguridad" (in Spanish). Banco Central del Paraguay. December 22, 2016. Retrieved February 19, 2017.
  6. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2009-12-29. Retrieved 2009-12-24.CS1 maint: archived copy as title (link)
  7. ^ a b "Archived copy" (PDF). Archived from the original (PDF) on 2010-10-11. Retrieved 2011-01-03.CS1 maint: archived copy as title (link)

Bibliography[edit]

External links[edit]

Preceded by:
Paraguayan peso
Reason: inflation
Ratio: 1 guarani = 100 pesos
Currency of Paraguay
1944 –
Succeeded by:
current