Paraguay: closing price of the euro today 21 March from EUR to PYG

The euro traded at the close at 7,721.20 guaraníes on average, which represented a 2.13% increase compared to 7,560.40 Guaraníes on average in the previous day.

Compared to last week, the euro accumulated a rise of 2.3%; on the contrary, in the last year it still continues to fall by 3.94%. As for the variations of this day compared to previous days, it added four successive dates in green. The volatility figure is visibly higher than the figure achieved for the last year (12.52 per cent), so that the value changes more than the general trend.

In the annual photo, the euro was paid at a maximum of 8,036.33 Guarani on average, while its lowest level was 7,453.30 Guaraníes on average. The euro is positioned closer to its low than its maximum.

A Strengthened Paraguayan

Guarani Guaraní is the legal tender in Paraguay and was created in 1943, which has given it the record of being one of the oldest coins in Latin America.

At first it was divided into 100 cents, however, due to 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 sought to ensure stability, strengthen it and reaffirm 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 to cents.

Banknotes and coins with the new denomination have been in circulation from 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 is today the highest value banknote. At the beginning of 2020, this ticket was worth about 16 US dollars or 14 euros.

Currently, there are also banknotes of 20 000 and 2000 Guarani, as well as coins of 50, 100, 500 and 1 000 Guaraní, of different sizes.

Among the controversies surrounding the Paraguayan currency is the 2009 project, when it was proposed to eliminate the three zeros against Guarani, which would also be called “new guaraní”, but in 2013 a contradictory project came to light. Both initiatives have been suspended.

In the economic sphere, Paraguay experienced great growth in 2021 despite the coronavirus pandemic, growing 4.6%; in addition, the Economic Commission for Latin America and the Caribbean (ECLAC) points out that the Gross Domestic Product (GDP) could increase by up to 3.8%.

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