"The standard workweek is 48 hours. In 2004 Paraguay's unemployment rate stood at 15 percent. Paraguay's currency is the guarani (PYG). In mid-October 2005, US$1 equaled about PYG6155. Price inflation fell dramatically between 2003 and 2004, from 14.2 percent to a 30-year low of 4.3 percent. President's Duarte's economic reforms and austerity programs have produced results more rapidly than many expected. As of 2005, experts forecast that the inflation rate in Paraguay likely would rise in coming years but remain below 10 percent. Paraguay is a member of the Common Market of the South (Mercado Común del Sur or Mercosur)."
"Paraguayan guaraní The guaraní (, plural: ""guaraníes""; sign: ₲; code: PYG) 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 . The law creating the guaraní was passed on 5 October 1943, and replaced the peso at a rate of 1 guaraní = 100 pesos. Guaraníes were first issued in 1944. Between 1960 and 1985, the guaraní was pegged to the United States dollar at 126 PYG to US$1. In 1944, aluminum-bronze coins were introduced in denominations of 1, 5, 10,"
"(with N₲ as the currency sign, and only the old banknotes available, probably with three zeros crossed out manually), new banknotes with the lower value would be introduced, re-using the name guaraní (₲) for the lower value. However, due to possible confusion and problems with the projects, it is currently suspended. Paraguayan guaraní The guaraní (, plural: ""guaraníes""; sign: ₲; code: PYG) is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use. The currency sign is . The law creating the guaraní was passed on 5"
"1923. In 1907, the Bank of the Republic issued notes for 5, 10, 50, 100 and 1000 pesos national money which were also denominated as 50 centavos, 1, 5 and 10 pesos in gold. Private banks such as ""El Banco De Comercio"" and ""Lezica y Lanús"" issued notes in Asunción. Paraguayan peso The peso was the currency of Paraguay between 1856 and 1944. It replaced the real at a rate of 8 reales = 1 peso. Until 1870, the peso was subdivided into 8 reales. Paraguay then decimalized, with 100 ""centésimos"" = 1 peso. The name of the subdivision was"
"per US$ - 5,628.1 (2017) 4,555.00 (2011), 6,158.47 (2005), 5,974.6 (2004), 6,424.34 (2003), 5,716.26 (2002), 4,105.92 (2001), 3,332.0 (January 2000), 3,119.1 (1999), 2,726.5 (1998), 2,177.9 (1997), 2,056.8 (1996), 1,963.0 (1995); note - since early 1998, the exchange rate has operated as a managed float; prior to that, the exchange rate was determined freely in the market Fiscal year: calendar year Economy of Paraguay Paraguay has a market economy highly dependent on agriculture products. In recent years, the economy has grown as a result of increased agricultural exports, especially soybeans. Paraguay has the economic advantages of a young population and vast"
"Paraguayan peso The peso was the currency of Paraguay between 1856 and 1944. It replaced the real at a rate of 8 reales = 1 peso. Until 1870, the peso was subdivided into 8 reales. Paraguay then decimalized, with 100 ""centésimos"" = 1 peso. The name of the subdivision was changed to ""centavo"" in 1874. The peso was replaced in 1944 by the ""guaraní"" 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. Bronze coins were issued in 1870 in denominations of 1,"
"Central Bank of Paraguay The Central Bank of Paraguay () is Paraguay's highest monetary authority in, and the country's governing body in, finances and economics. Its headquarters are in Asunción. The institution was created by Law 18/52 of March 25, 1952. In 1995, the legal frame of the Central Bank was replaced by Law 489/95. The bank manages the printing and minting of the Paraguayan currency, the guaraní. The Bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make"
"Spanish for, ""PEACE AND JUSTICE""). While probably most prominent on the reverse of the national flag, the reverse of the seal is also used by the Supreme Court of Paraguay, and is featured alongside the obverse on banknotes of the national currency, the guaraní. The first design of the coat of arms dates to the year 1820, from the time of the dictatorship of Francia. Coat of arms of Paraguay The national coat of arms or national seal of Paraguay (""Escudo de Armas"") or (""Sello Nacional"") has the following construction: The obverse of the arms features a round white background"
"US$3.4 billion, or roughly US$1,000 per capita, ranking Paraguay only ahead of Bolivia among the Spanish-speaking countries of South America. Paraguay was the most agricultural economy of South America, and that sector influenced the performance of virtually every other sector of the economy. The over dependence on agricultural economy and low tax collections deteriorated the already wide gap wealth distribution. The extreme poverty increased from 16% to 20% during 2001 to 2012, even as the economy grew. By 2013, it has a human development index of 0.669 which is even lower than Bolivia. The Paraguayan economic miracle of the 1970s"
"soybeans and cotton could not offset the surge in imported consumer goods and petroleum products. After years of negative balances, Paraguay achieved a positive balance of payments totaling US$234 million in 2003. In 2004, however, the current account had an estimated deficit of US$35.1 million. Paraguay has a sustainable debt level according to the International Monetary Fund (IMF). External debt totaled about US$3.4 billion in 2004, low compared to most Latin American countries. Continued reductions in Paraguay's debt to gross domestic product ratio are expected in coming years. Paraguay paid US$412 million in debt service to the IMF in 2004."
"Polish Security Printing Works (Polska Wytwornia Papierow Wartosciowych). On December 22, 2016, new 20,000, 50,000 and 100,000 notes were introduced with upgraded security. The guaraní is currently one of the least valued currency unit in the Americas, 1 Euro being equivalent as of October, 2018, to 6,767 Guaranies (XE). In 2011, plans were released under which the Paraguayan guaraní would be revalued as the ""Nuevo guaraní"" (""New guaraní"") (PYN) at the rate of 1,000:1. From day 1 (currently unknown), there would be a conversion at the rate of 1,000 ₲ = 1 N₲ (""nuevo guaraní""). After a two-year transition period"
"Most of Paraguay's trade takes place with Uruguay, Brazil and Argentina. In 2002 Paraguay conducted more than US$400 million in trade with Argentina and nearly US$800 million with Brazil. Paraguay is also a member of the Inter-American Development Bank, Latin American Integration Association, and Latin American Economic System and a signatory to the agreement creating the South American Community of Nations. In 2004 Paraguay signed an energy cooperation agreement with Venezuela to purchase oil and petroleum. Venezuela agreed to concessional financing that allowed Paraguay to pay over a 15-year period at a nominal interest rate. Imports totaled US$3.3 billion in"
"of commerce was 20.2%, and that of other services, including government, 38.4%. Industry's part (including mining and construction) was about 20%. After years of economic crisis, between 1999 and 2002, the Paraguayan economy grew at between 2.9 and 4.1% per year from 2003 to 2006. For 2007, the estimated growth is about 6.4%. Inflation in 2007 reached 6.0%. Most enterprises are small, micro and individual ones, including subsistence jobs like street vendors. Only 4% of the Paraguayan labor force works in companies with more than 50 employees. In June 2007 external foreign exchange reserves amounted to US$2153 million, and the"
"Argentine peso The peso (established as the ""peso convertible"") is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies. It is subdivided into 100 ""centavos"". Its ISO 4217 code is ARS. Since the late 20th century, the Argentine peso has experienced a substantial rate of devaluation, reaching 25% in 2017. The official exchange rate for the United States dollar hovered around 3:1 from 2002 to 2008, climbing to 6:1 between 2009 and 2013. By August 2018, the rate had risen to 40:1. Amounts in earlier pesos were"
"""Arias Seven-Day"" notes escaped incineration. Panamanian balboa The balboa (sign: B/.; ISO 4217: PAB) is, along with the United States dollar, one of the official currencies of Panama. It is named in honor of the Spanish explorer/conquistador Vasco Núñez de Balboa. The balboa is subdivided into 100 ""centésimos"". The balboa replaced the Colombian peso in 1904 following the country's independence. With the exception of a fluctuation in 2016, the balboa has been tied to the United States dollar (which is also legal tender in Panama) at an exchange rate of 1:1 since its introduction and has always circulated alongside dollars."
"foreign official debt US$2154 million, close to parity. Fiscal surplus is provisionally reported as 0.5% of GDP in 2006 and 2007. Paraguay's economy (GDP) grew 5,8% in 2008, fastest growing sector being agriculture with 10,5% growth Paraguay produces enough basic food to be largely self-sufficient. Corn, cassava, and wheat are the main food crops for local consumption. The global surge in grain prices 2007/2008 was a major impulse for the agricultural sector. Wheat cultivation expanded, so did rice. Most significant was the increase of soy production. In 2004 Paraguay had about 1.6 million hectares dedicated to genetically modified (GM) crops."
"Argentine peso moneda nacional The peso moneda nacional was the currency of Argentina from November 5, 1881 to January 1, 1970, the date in which the Argentine peso ley was issued to the Argentine public. It was subdivided into 100 centavos, with the argentino worth 5 pesos. Its symbol was ""m$n"" or ""$m/n"". Its ISO 4217 code was ""ARM"". The peso moneda nacional replaced the Argentine real at a rate of one to eight. It also replaced the peso fuerte at par and the peso moneda corriente at a rate of 25 pesos moneda corriente = 1 peso moneda nacional."
"Export value of soy and its derivates increased from US$1,25 billion in 2007 to US$2,54billion in 2008 Paraguay's eastern plains as well as the Chaco support the country's dairy and ranching industry. Behind soybeans, beef exports make up a significant part of Paraguay's agriculture sector. Additionally, Paraguay produces an adequate supply of beef, pork, and dairy products to meet domestic needs. The discovery of cases of foot-and-mouth disease in 2002 and 2003 led to a ban on Paraguayan beef in many countries. However, in 2004 Paraguay's meat production and exports rebounded. As a result of rising international prices and the"
"spurred by the International Monetary Fund (IMF) and World Bank helped restore some credibility to Paraguay's banking industry. Still, a paucity of credit options hinders the overall economy. Paraguay has a long history as a money-laundering center. The government has taken steps to curb the problem, but enforcement of anti-laundering legislation remains inconsistent. Foreign companies either partially or wholly own most banks and financial institutions in Paraguay. Paraguayan banks hold less than 10 percent of deposits. Of the 16 banks operating in Paraguay in 2003, 50 percent were wholly foreign-owned and 25 percent were partially owned by foreign companies. Paraguay's"
"100 pesos moneda nacional. The ""peso argentino"" (""$a"") (ISO 4217: ARP) replaced the previous currency at a rate of 1 peso argentino to 10,000 pesos ley (1 million pesos m$n). The currency was born just before the return of democracy, on June 1, 1983. However, it rapidly lost its purchasing power and was devalued several times, and was replaced by a new currency called the austral in June 1985. The ""austral"" (""₳"") (ISO 4217: ARA) replaced the peso argentino at a rate of 1 austral to 1000 pesos (one billion pesos m$n). During the period of circulation of the austral,"
"coat of arms represents the independence of Paraguay. The emblem on the reverse side is the seal of the treasury: a yellow lion below a red Phrygian cap on the top of a pole (symbolising courage) and the words ""Paz y Justicia"" (""Peace and Justice""). The differences in the obverse and reverse sides comes from the period when José de Francia was in power (1814–1840). On July 15, 2013, the flag was revised. The coat of arms was simplified and the design was brought closer to its original form. Flag of Paraguay The flag of Paraguay () was first adopted"
"issued by Banco Nacional of Buenos Aires for Provincia Oriental (""Eastern Province"", i.e., Uruguay). All parties to the conflict used the Spanish dollar (Spanish ""peso"", Portuguese "" patacão""), which circulated with a value of 8 Spanish reales or 960 Brazilian reis. Circulation consisted of coins from mints in Mexico, Potosí, Brazil, and Buenos Aires. During the turbulent period of conflict preceding independence, a considerable amount of poor-quality copper coin from both Buenos Aires and Brazil came into circulation. Peso (Patacón) = 8 Reales = 800 Centésimos de real (centavos) Onza de oro = 16 Pesos In 1828, Uruguay's currency was"
"foreign exchange market, the peso ended the trading session at ₱54.13. It has since recovered to ₱52 as of November 2018. Philippine peso The Philippine peso, also referred to by its Filipino name piso ( , , plural pesos; ; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 centavos or ""sentimos"" in Filipino. As a former colony of the United States, the country used English on its currency, with the word ""peso"" appearing on notes and coinage until 1967. Since the adoption of the usage of the Filipino language on banknotes and"
"has otherwise been a nearly universal cultural and identity marker of mestizos (people of mixed Spanish and Amerindian ancestry), and also of culturally assimilated, upwardly-mobile Amerindian people. About 50,000 Paraguayans speak an indigenous language besides Guaraní: Besides Spanish, Guaraní and all other previous languages, Portuguese, Plautdietsch, Standard German and Italian are spoken as well. Languages of Paraguay The Republic of Paraguay is a mostly bilingual country, where both Spanish, an Indo-European language, and Guaraní, an indigenous language of the Tupian family, have official status. Spanish is spoken by about 87% of the population, while Guaraní is spoken by more than"
"adorn its streets with an identity that enchants anyone who visits the country. As an example, for less than 80 US dollars a visitor can have a personalized trip to a nature reserve area called Eco-Reserva Mbatovi which is located in the Paraguari department, about an hour away from the capital. The trip includes a bunch of different outdoor activities, water, and complete professional guidance during the whole trip.<ref name=""http://www.lonelyplanet.com/paraguay""></ref> Paraguay's banking and financial services industry is still recovering from the liquidity crisis of 1995, when news of widespread corruption resulted in the closure of several significant banks. Reform efforts"
"a new series of banknotes, with the 200 and 500 pesos banknotes as the newest denominations. A new 20 and 1000-pesos note were issued in 2017, and new banknotes of 50 and 100 pesos were issued in 2018. A new series of coins in denominations of $1, $2, $5, and $10 will be issued in 2018. Argentine peso The peso (established as the ""peso convertible"") is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies. It is subdivided into 100 ""centavos"". Its ISO 4217 code is ARS."
"of Paraguay, its historical roots associated with liberation from the missionary systems of the more repressive neighboring countries. It is the national symbol of Paraguay. Between the 1930s to late 1950s Paraguayan had influence across the world and many famous Paraguayan performers began with the Paraguayan harp and guitar. Paraguayan harp is played solo or in duet with another Paraguayan harp, a guitar or rarely (until 50 years ago) a violin. It often accompanies singing in Guarani or Spanish or a mixture of the two and is played mostly by men. Traditionally women did not play at all until the"
"below that symbolic threshold. The exchange rate as of September 2015 was BRL 4.05 to US$1.00, however it has since been in a gradual recovery period, reaching 3.0 BRL per US dollar by February 2017. Along with the first series of currency, coins were introduced in denominations of 1, 5, 10 and 50 centavos and 1 real; the 25 centavos piece soon followed. All were struck in stainless steel. The original 1-real coins, produced only in 1994, were withdrawn from circulation on 23 December 2003; all other coins remain legal tender. In 1998, a second series of coins was introduced."
"Languages of Paraguay The Republic of Paraguay is a mostly bilingual country, where both Spanish, an Indo-European language, and Guaraní, an indigenous language of the Tupian family, have official status. Spanish is spoken by about 87% of the population, while Guaraní is spoken by more than 90%, with about 4,650,000 speakers. 52% of rural Paraguayans are bilingual in Guaraní. Guaraní is the only indigenous language of the Americas whose speakers include a large proportion of non-indigenous people. This is an anomaly in the Americas where language shift towards European colonial languages (in this case, the other official language of Spanish)"
"at 1 new for 1000 old. Withdrawal of old notes of N$500 and under began immediately; notes of 100,000, 200,000, and 500,000 nuevos pesos remained legal tender (for 100, 200, and 500 pesos uruguayos) until 30 April 1996. The first banknote denominated in ""pesos uruguayos moneda nacional"", the $20 (dated 1994), did not appear in circulation until 22 February 1995. By the end of 1995, denominations of 10, 50, 100, 200, and 500 were in circulation. A $1000 was added in 1996, and a $2000 in 2003. A new series of notes began appearing in November 2006. Currency of Uruguay"
"papayas. The industry – from automobiles, steel and petrochemicals to computers, aircraft and consumer durables – accounted for 30.8% of the gross domestic product. Industry is highly concentrated in metropolitan São Paulo, Rio de Janeiro, Campinas, Porto Alegre, and Belo Horizonte. Brazil has become the fourth largest car market in the world. Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef. In total, Brazil ranks 23rd worldwide in value of exports. Brazil pegged its currency, the real, to the U.S. dollar in 1994. However, after the East Asian"
"and patronage politics. Government economic policies deviated little from 1954 to the late 1980s, consistently favoring a strong private-enterprise economy with a large role for foreign investment. Unlike most Latin American economies, in Paraguay import tariffs were generally low, fiscal deficits manageable, and exchange rates not overvalued. These trends faltered in the 1980s as the government took a more active part in industry, deficits rose, and the national currency was generally overvalued and devalued numerous times. Throughout the post-World War II era, Paraguay had no personal income tax, and government revenues as a percentage of GDP were among the lowest"
"It is used for tourist traffic. Paraguay's railroads operate on a standard 1.435-meter gauge. The total length of rail in Paraguay is . of that is standard gauge at . Another is narrow gauge at , and of the total railway is privately owned. Paraguay has of inland waterways. The Paraguay and Paraná are the country's two main rivers. The Paraguay River, with headwaters at Mato Grosso, Brazil, flows southward, converging with the Paraná in southwestern Paraguay, and then flowing to the Río de la Plata estuary in Argentina, the entrance for the great majority of ships servicing Paraguay's ports."