was the currency of Paraguay
Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the...
between 1856 and 1944. It replaced the real
The real was the currency of Paraguay until 1856. Initially, the Spanish colonial real circulated. This was followed, in 1813, by the Argentine real. In 1845, Paraguay began issuing its own reales. Sixteen silver reales equaled one gold escudo. In 1856, the Paraguayan peso was introduced, worth 8...
at a rate of 8 reales = 1 peso. Until 1870, the peso was subdivided into 8 reales. Paraguay then decimalized, with 100 centesimos
= 1 peso. The name of the subdivision was changed to centavo
in 1874. The peso was replaced in 1944 by the guaraní
The guaraní is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use.The currency sign is .-History:...
at a rate of one hundred to one.
In 1867, Paraguay issued its first gold coins, for 4 pesos, during the War of the Triple Alliance
The Paraguayan War , also known as War of the Triple Alliance , was a military conflict in South America fought from 1864 to 1870 between Paraguay and the Triple Alliance of Argentina, Brazil, and Uruguay...
. Bronze coins were issued in 1870 in denominations of 1, 2 and 4 centesimos, followed in 1889 by silver 1 peso. In 1900, cupro-nickel 5, 10 and 20 centavos were introduced, followed in 1925 by cupro-nickel 50 centavos and 1 and 2 pesos. In 1938, aluminium replaced cupro-nickel in these last three denominations, with cupro-nickel 5 and 10 pesos introduced the following year.
In 1856, the National Treasury issued notes in denominations of ½ and 4 reales, 1 and 2 pesos. These were followed by notes for 1 and 2 reales, 3, 4, 5 and 10 pesos by 1870.
In 1870, the General Treasury took over paper money production and issued the only notes denominated in centesimos. These were for 50 centesimos. The peso notes were denominated in "peso fuerte". Notes denominated in reales were issued until 1871. In 1874, notes for 10, 20 and 50 centavos were issued, with 20 pesos notes introduced in 1875.
In 1894, The government took direct control of note issue, with a series in denominations of 50 centavos, 1, 5, 10, 20, 50 and 100 pesos. 200 and 500 pesos notes were introduced in 1899. 50 centavos and 1 peso notes were last issued in the 1916 series. 1000 pesos notes were introduced in 1923.
In 1907, the Bank of the Republic issued notes for 5, 10, 50, 100 and 1000 pesos national money which were also denominated as 50 centavos, 1, 5 and 10 pesos in gold. Private banks such as El Banco De Comercio
and Lezica y Lanús
issued notes in Asunción
Asunción is the capital and largest city of Paraguay.The "Ciudad de Asunción" is an autonomous capital district not part of any department. The metropolitan area, called Gran Asunción, includes the cities of San Lorenzo, Fernando de la Mora, Lambaré, Luque, Mariano Roque Alonso, Ñemby, San...