Paraguay: closing price of the euro today 22 March from EUR to PYG

On the last day, the euro was paid at the close to 7,703.26 Guaraníes on average, which represented a rise of 2.01% compared to the previous day's figure, when it reached 7,551.30 Guaraníes on average.

Compared to the last seven days, the euro recorded a rise of 2.8%, although, on the contrary, in year-on-year terms it still maintains a decline of 4.61%. As for the variations of this day compared to past dates, it reversed the result of the previous day, where it marked a decrease of 0.2%, demonstrating that it is unable to establish a stable trend in recent times. In the last week, volatility is slightly higher than the figure achieved for the last year (12.49%), showing itself as an asset with greater variations than indicated by the general trend.

In the annual photo, the euro changed by a maximum of 8,036.33 Guarani on average, while its lowest level was 7,453.30 Guaraníes on average. The euro is closer to its minimum value than to the maximum.

The Paraguayan Guarani

Guaraní is the 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, 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 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 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 grow by up to 3.8 percent.

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