Euro: opening price today March 21 in Paraguay

After the opening of markets the euro traded at the beginning of today at 7,735.31 guaraníes on averagewhich implied a change of 2.66% when compared to the value of the previous session, when it ended with 7,535 guaraníes on average.

Regarding the last week, the euro accumulates a raise of 2.09%so that from a year ago it still accumulates a rise of 8.83%.

Analyzing this data with that of previous days, it turns the tables with respect to that of the previous day, in which a drop of 3.04% was recorded, without being able to establish a clear trend lately. In the last week, volatility is manifestly higher than that accumulated in the last year, which indicates that it presents greater changes than the general trend of the value.

The guaraní is the legal tender in Paraguay and it was created in 1943 with what holds the record for being one of the oldest coins in Latin America.

At first it was divided into 100 cents, however, due to inflation, the cents are no longer used. Regarding its abbreviation, the acronym PYG is commonly used.

It was on October 5, 1943 when a decree was proclaimed establishing the Organic Monetary Regime of the Republic of Paraguay, with which sought to ensure stability, strengthen it and reaffirm monetary independence and sovereignty. With this decision, the Paraguayan peso was also replaced.

At that time, the guaraní was equivalent to 100 Paraguayan pesos, later 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.

It was not until 1998 that finally the first 100,000 guaraní bills were put into circulation, which today is the highest value banknote. For the beginning of 2020 this note was worth about 16 US dollars or 14 euros. Currently there are also bills of 20,000 and 2,000 guaraníes, as well as coins of 50, 100, 500 and 1000 guaraníes, of different sizes.

In the last two decades, Paraguay’s macroeconomic policies have benefited the economy, which has shown strong growth from 2004 to 2019, partly due to agricultural exports, hydroelectric power, and constitutional reforms that helped maintain stability. According to data from world Bankpoverty has been reduced from 40.2% to 19.7 percent.

However, as a result of the COVID-19 pandemic, growth has slowed: the economy contracted in 2019, poverty increased again to 22.3% in 2020 And these factors, along with inflation, are expected to keep poverty above pre-pandemic levels.

Despite the contraction registered in 2022, the Economic Commission for Latin America and the Caribbean (Cepal), hope that by this 2023 Paraguay registers a rise of 4%, while for the region it expects an exhaustion of the rebound effect after the pandemic with growth of 1.3 percent.