The Central Bank of Paraguay (BCP) issued to the marketplace new 1,000 Guaranies banknotes with some modifications, which include the elimination of the zeros at the corner of the note; being replaced by letters. The 10,000 and 100,000 Guaranies notes with new designs and more security measures will be issued after Holiday Week, 2005.

      The most prominent characteristic is the elimination of the zeros on the corners of each note. Only the main denomination, located in the center of the banknote remains with all the zeros of its value. This modification is common in the 1,000, 10,000, and 100,000 notes. The one that is still circulating is the G.1,000, and there was some resistance in the acceptance of the newness of the design and the lack of communication in the market place.

      The manager of National Operations of the BCP, Ruben Isaac Aguilera, explained that the decision to eliminate the zeros is because the guarani is the only banknote in the region that has many zeros, and it forms part of a transition process for an eventual case in the future in which it may be decided to eliminate the zeros of the guarani. He stated that that depends of a decision based on monetary politics.

      Also, another common characteristic in the three denominations is the assymmetrical order of the series numbers whose object is to make counterfeiting more difficult.

      Aguilera explained that the notes that are still in good condition will not be replaced until they get back to the BCP for their destruction. Also, he stated that the notes with the previous designs will not lose value when the new ones are introduced; they will continue in the marketplace until the end of their useful lives.

      The distribution of the new banknotes will not signify an inorganic issue because care will be taken so that only the necessary quantity of notes will exist so that they will not have an impact on inflationary goals.

      The note with the most changes is the 100,000 that will be in circulation within a week. One characteristic is the perfect register that the drawing had of the naduti is replaced by the figure of a lion, and the new notes will correspond to series B.

      Another characteristic that this 100,000 bill incorporates that the previous series did not is the identification system in relief for the blind.

SOURCE: Ultima Hora, Asuncion, Paraguay, March 22, 2005

Courtesy: Yezid Acosta
Images Courtesy of Morris Lawing and Richard Gatto