Paraguayan guaraní
From Wikipedia, the free encyclopedia
| Paraguayan guaraní guaraní (Spanish) |
|
| ISO 4217 Code | PYG |
|---|---|
| User(s) | Paraguay |
| Inflation | 5% |
| Source | EconStats, 2006 est. |
| Subunit | |
| 1/100 | céntimo because of inflation, céntimos are no longer in use. |
| Symbol |  |
| Plural | guaraníes |
| Coins | |
| Freq. used | 50, 100, 500, 1000 guaraníes |
| Rarely used | 1, 5, 10 guaraníes |
| Banknotes | 1000, 5000, 10 000, 20 000, 50 000, 100 000 guaraníes |
| Central bank | Banco Central del Paraguay |
| Website | www.bcp.gov.py |
| Printer | De La Rue Giesecke & Devrient |
| Website | De La Rue Giesecke & Devrient |
| Mint | Banco Central del Paraguay[citation needed] |
| Website | www.bcp.gov.py |
The guaraní (plural: guaraníes; ISO 4217 code PYG) is the national currency unit of Paraguay, commonly written ₲. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use.
Contents |
[edit] History
The law creating the guaraní was passed on 5 October 1943, and replaced the peso at a rate of 1 guaraní = 100 pesos. Guaraníes were first issued in 1944. Between 1960 and 1982, the guaraní was pegged to the United States dollar at 126 PYG to 1 USD.
[edit] Coins
In 1944, aluminium-bronze coins were introduced in denominations of 1, 5, 10, 25 and 50 céntimos. All were round shaped. The obverses featured a flower with "Republica del Paraguay" and the date surrounding it, except for the 50 centavo 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 centavos 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 guaraníes, all of which were round and made of stainless steel. Since 1990, stainless steel has been replaced by brass plated steel nickel-brass. 100 guaraníes coins were introduced in 1990, followed by 500 guaraníes in 1997. 1000 guaraníes coins are expected to be issued in the first months of 2007 [1]
[edit] Banknotes
The first guaraní notes were of 50 céntimos, 1, 5, and 10 guaraní overstamped on 50, 100, 500, and 1000 pesos in 1943. Regular guaraní notes for 1, 5, 10, 50, 100, 500 and 1000 guaraní, 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 5000 and 10,000 guaraníes. This designed lasted for decades until inflation removed notes up to and including 500 guaraníes from circulation. The 1982 revision added denominations in the Guaraní language to the reverses.
The first 50,000 guaraníes notes wers issued in 1990, followed by 100,000 guaraníes in 1998. During the last two decades of the 20th century, more than one printer printed guaraní notes.
Starting from 2004, the existing denominations, except 50,000 guaraníes, 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 guaraní note, while De La Rue prints the rest.
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The guaraní is the least valued currency unit in South America.
[edit] External links
- Coins
- Banknotes
- Banco Central del Paraguay. presentación del nuevo billete de guaraníes 20.000.-. Retrieved on February 9, 2007.
[edit] References
- Oxford dictionary of Finance and Banking, ISBN 0-19-860749-0
- Chester L. Krause & Cliffor Mischler (1991). in Colin R. Bruce II: Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- Albert Pick (1994). in Neil Shafer & Colin R. Bruce II: Standard Catalog of World Paper Money, General Issues, 7th ed., Krause Publications. ISBN 0-87341-207-9.
| Preceded by: Paraguayan peso Reason: inflation Ratio: 1 guarani = 100 pesos |
Currency of Paraguay 1944 – |
Succeeded by: current |
