Euro closing value in Paraguay on August 22 from EUR to PYG

he euro Negotiated at closing 8,433.43 Guarani on averageWhich means a change of 1.7% compared to 8,292.54 guaraní the previous day.

And in the last seven days euro Register for promotion 2.29%%So on a yearly basis there is still an increase in 5.74%.

Analyzing this data with the data of the previous days, it added three consecutive days with positive numbers. Referring to the volatility of the past week, it presented a clearly higher balance than the volatility shown by the figures of the past year, and therefore the value is witnessing greater changes than the general trend.

In the last two decades Paraguay It recorded strong economic growth, in light of this situation. World Bank It expects that by 2024 there will be a slowdown compared to the previous period.

he Central Bank of Paraguay (BCP) expects 3.8 percent GDP growth (gross domestic product)Carlos Carvalho, the head of the banking institution, expects inflation to reach the expected target of 4 percent by the end of this year.

Paraguay’s economic growth is the result of income diversification across sectors, a situation highlighted by specialists in the region who consider it a sign of economic health.

The World Bank says Paraguay’s economic slowdown will slow slightly to 4 percent; however, it will be one of the highest growth rates in the region.

The Guarani is the legal currency in Paraguay. Created in 1943, it holds the record for being one of the oldest coins in Latin America.

It was originally divided into 100 cents, but due to inflation, cents are no longer used. As for the abbreviation, the abbreviation PYG is commonly used.

It was on October 5, 1943 that a decree was issued establishing the Organic Monetary System of the Republic of Paraguay, under which sought to ensure stabilityand to strengthen and reaffirm its independence and monetary sovereignty. With this decision, the Paraguayan peso was also replaced.

At that time, the guaraní was worth 100 Paraguayan pesos, later changed to cents.

The new denomination banknotes and coins have been in circulation since 1944 until the present and their issuance is now regulated by the Central Bank of Paraguay.

It was not until 1998 that finally The first 100,000 Guarani banknotes were put into circulation.which is today the highest value bill. By early 2020, this bill was worth around $16 or €14. There are also currently 20,000 and 2,000 guaraní banknotes, as well as coins of 50, 100, 500 and 1,000 guaraní, in various sizes.

In the last two decades, Paraguay’s macroeconomic policies have benefited the economy.which showed strong growth from 2004 to 2019, due in part to agricultural and hydropower exports and constitutional reforms that helped maintain stability. According to data from World BankThe poverty rate decreased from 40.2% to 19.7%.

However, as a result of the COVID-19 pandemic, growth slowed: the economy contracted in 2019, The poverty rate rose again to 22.3% in 2020. These factors, combined with inflation, are expected to keep poverty above pre-pandemic levels.