The market price of the Paraguayan euro from EUR to PYG on March 16 this year

The euro was trading at the opening of the 7,666.59 Guarani, an increase of 1.58% compared to the previous day's price when it ended at 7,547.50 Guarani.

In

relation to profitability in the last 7 days, the euro has risen 2.24%. Even so, last year it still maintains a 5.12% drop. Analyzing this data with the data of the previous day reverses the results of the previous day, which decreased by 1.19% even if it was not possible to establish a recently defined trend. Since the volatility of the last 7 days is higher than the figure achieved last year (12.52%), its value undergoes a greater change than the general trend.

In the

annual photo, the euro was changed to a high of 8,036.33 Guarani, and the lowest level was 7,453.30 Guarani. The euro is located closer to the minimum value than the maximum value.

The currency of Paraguayan Guarani

is a legal tender for Paraguay, founded in 1943 and holds a record of being one of the oldest coins in Latin America.

Initially, it was divided into 100 cents, but due to inflation, cents are no longer used. For abbreviations, the PYG abbreviation is commonly used.

On October 5, 1943, a decree was proclaimed establishing an organic monetary system for the Republic of Paraguay, which seeks to ensure and strengthen stability, and reaffirm its monetary independence and sovereignty. This decision also replaced the Paraguayan peso.

At that time, Guarani was equivalent to 100 Paraguayan pesos and was changed to cents.

Banknotes and coins of the new denomination have been in circulation since 1944, and their issuance is currently regulated by the Central Bank of Paraguay.

However, by 1998, the first 100,000 Guarani banknotes were finally in circulation, which is today the highest value banknote. At the beginning of 2020, these tickets were worth about 16 dollars or 14 euros.

Currently, there are also coins of 50, 100, 500 and 1,000 Guarani, which differ in size from banknotes of 20,000 and 2000 Guarani.

Among the debates surrounding the Paraguayan currency is a plan for 2009, in which it was proposed to remove three zeros for Guarani, also called the “new Guarani”, but in 2013 a contradictory project was revealed. Both projects were suspended.

In the economic sphere, Paraguay experienced great growth, up 4.6% in 2021, despite the coronavirus pandemic. 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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