Paraguayan Guarani flag

Paraguayan Guarani

Guaraní

Currency Code

PYG

ISO 600

Symbol

PYG

Native: ₲

Decimal Digits

0

Rounding: 0

Countries

PY

Using this currency

Currency Units

Major Unit

Name: guarani

Symbol: ₲

Minor Unit

Name:

Symbol:

Value: 0

Banknotes

Frequently Used

₲2000₲5000₲10000₲20000₲50000₲100000

Coins

Frequently Used

₲50₲100₲500₲1000

Plural Forms

English Plural

Paraguayan guaranis

Native Plural

Guaraníes

Overview

The Paraguayan Guarani is the currency of Paraguay, managed by the Central Bank of Paraguay. Named after the indigenous Guaraní people, it has been relatively stable and serves Paraguay's agricultural and emerging industrial economy.

Economy

  • Paraguay is a member of Mercosur, UNASUR, OAS, Rio Group.
  • Main industries include: Sugar processing, Cement, Textiles, Beverages, Wood products, Steel, Base metals, Electric power.
  • Paraguay is part of the World Trade Organization.
  • Imports are road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts.
  • Major exports include soybeans, livestock feed, cotton, meat, edible oils, wood, leather.
  • GDP: $42.8 billion (2023 est.).
  • GDP per capita: $5,821 (2023 est.).
  • Unemployment rate: 5.7% (2023 est.).
  • Inflation rate: 8.1% (2023 est.).
  • Main trading partners: Brazil, Argentina, Chile, Russia, United States, China.
  • Trade agreements: Mercosur agreements, Various bilateral agreements.

History

  • Previous currencies used: Paraguayan peso, Real paraguayo.
  • The guaraní was introduced in 1944, replacing the peso at 100:1. It was named after the Guaraní indigenous people and has been Paraguay's currency since then.
  • 1944: Guaraní introduced, replacing peso (100:1)
  • 1989: End of Stroessner dictatorship
  • 1990s: Economic liberalization
  • 2002: Banking crisis impact
  • 2008: Global financial crisis resilience
  • Exchange rate peg: Free floating with interventions.

General Information

  • ISO 4217 Code: PYG
  • Symbols: PYG/₲
  • Currency Subunits: 100 céntimos
  • Central Bank: Central Bank of Paraguay
  • Monetary Policy: Inflation targeting with 4% target (±2% tolerance band). Flexible exchange rate with interventions to prevent excessive volatility.
  • Bills: 2000 guaraníes, 5000 guaraníes, 10000 guaraníes, 20000 guaraníes, 50000 guaraníes, 100000 guaraníes
  • Coins: 50 guaraníes, 100 guaraníes, 500 guaraníes, 1000 guaraníes
  • USD Exchange Rate: Variable (approximately 7300-7400 PYG per USD)
  • Pegged To: None (Floating)
  • Capital: Asunción
  • Population: 7,356,409 (2023 est.)
  • Area: 406,752 km²
  • Languages: Spanish (official), Guaraní (official)
  • Time Zones: UTC-3 (Paraguay Time)
  • Government Type: Presidential republic
  • Head of Government: President (head of state and government)
  • Independence: May 14, 1811 (from Spain)
  • Ethnic Groups: Mestizo 95%, Other 5%
  • Religions: Roman Catholic 80.1%, Protestant 6.3%, Other Christian 0.8%, Indigenist 0.4%, Other 1.3%, None 11.1%
  • Literacy Rate: 94% (2018 est.)
  • Transport: Silvio Pettirossi International Airport, road networks, Paraguay River transport, landlocked requiring river access
  • Communications: Adequate telecommunications, 64% internet penetration, mobile network coverage
  • Energy: Hydroelectric 100% (major exporter), Itaipu and Yacyretá dams
  • Countries Using This Currency: Paraguay
  • Data Sources: Central Bank: Central Bank of Paraguay (bcp.gov.py), Economic Data: National Institute of Statistics Paraguay, World Bank, IMF, Trade Data: National Customs Directorate, Demographic Data: National Institute of Statistics Paraguay, Geographic Data: National Meteorological Directorate, Historical Data: Central Bank of Paraguay archives
  • Last Updated: 2025