The US dollar traded near 6,966.26 Guarani on average, up 1.8% from 6,843.01 Guarani on average the previous day.
Over the past week, the US dollar has recorded a 0% decline; despite this, year-on-year, it still maintains a 4.57% rise. By analyzing this data with that of the previous days, he completed two consecutive sessions with a flat trend. Last week's volatility was 19.26%, which is visibly higher than the annual volatility figure (12.27%), so the value is changing more than the overall trend.
Over the past year, the US dollar has been paid at a maximum of 7,093.80 guaraníes on average, while its lowest level has been 6,759.87 guaraníes on average. The US dollar is closer to its peak than to its lowest level.
The Paraguayan Guaraní currency is legal tender in
Paraguay and was created in 1943, which holds the record of being one of the oldest coins in Latin America.
At first it was divided into 100 cents, but because of inflation, cents are no longer used. About its abbreviation, the acronym PYG is commonly used.
It was on October 5, 1943 that a decree was proclaimed establishing the organic monetary regime of the Republic of Paraguay, which was aimed at ensuring stability, strengthening it and reaffirming monetary independence and sovereignty. This decision also replaced the Paraguayan peso.
At that time, the Guarani was equivalent to 100 Paraguayan pesos, then they were changed into cents.
Banknotes and coins with the new face value have been in circulation since 1944 to the present day and their issuance is now regulated by the Central Bank of Paraguay.
However, it was until 1998 that the first 100,000 Guaraní banknotes were finally put into circulation, which today is the highest value note. At the beginning of 2020, this ticket was worth around 16 US dollars or 14 euros.
Currently, there are also 20,000 and 2,000 Guarani banknotes, as well as 50, 100, 500 and 1,000 Guarani coins, of different sizes.
Among the controversies surrounding the Paraguayan currency is the 2009 plan, when it was proposed to eliminate the three zeros against the Guarani, which would also be called the “new Guaraní”, but in 2013 a contradictory project came to light. Both initiatives have been suspended.
In the economic field, Paraguay experienced strong growth in 2021 despite the coronavirus pandemic, with growth of 4.6 per cent; in addition, the Economic Commission for Latin America and the Caribbean (ECLAC) points out that gross domestic product (GDP) could increase up to 3.8 per cent.
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Agencies