Paraguay's Central Bank will reveal a full redesign of the guaraní banknotes on October 5, marking the first overhaul in more than 60 years. The new series shifts focus from historical figures to indigenous culture and national biodiversity.
On October 5, Paraguay will show the country a new face for its money. The Central Bank of Paraguay (BCP) plans to launch a full redesign of the guaraní banknotes. This is the first time in more than 60 years that Paraguay's currency will get a complete overhaul. The date lines up with the 83rd anniversary of the guaraní as the official currency. The BCP, which controls all currency design and policy, will keep the guaraní (PYG) as the only legal tender. All changes follow the rules set by global central banks and the Banco Central del Paraguay.
From portraits to national identity
For decades, Paraguay's banknotes have shown portraits of famous historical figures. That changes now. The new series will put Guaraní culture front and center. This means more than just the currency's name. It points to the indigenous group whose name the money carries. The backs of the notes will show plants and animals from Paraguay's six ecological regions. Expect to see the bellbird, the Paraguayan polka dance, and tereré-a cold herbal drink that is part of daily life. These images appeared in a recent BCP promo video. Central banks in Europe and the UK have also started using currency design to build national identity and trust. Paraguay is joining that trend.
Some reports say Oberthur Fiduciaire, a French security printer, won the contract to make the new notes after a competitive process in 2023. But there is no open-source confirmation of this deal or the details of the tender. What is certain: the redesign will not change the value of the guaraní or the way the monetary system works. All six denominations-₲2,000, ₲5,000, ₲10,000, ₲20,000, ₲50,000, and ₲100,000-will stay in use. This matches the latest verified data on Paraguay's currency system from recent exchange rate references.
Design process and practical impact
The BCP's move away from portraits to cultural and ecological themes is a clear push to strengthen national identity through money. Full images of the new notes are still under wraps. But the BCP's campaign hints at a focus on symbols that matter to Paraguayans. The design process started in 2023. The BCP asked major international banknote makers for proposals. Reports say Oberthur Fiduciaire got the job, but the BCP has not confirmed this in official filings.
For people using the guaraní, nothing changes overnight. The BCP says the new notes will not affect the value of the currency. The monetary system stays the same. Old notes will still be accepted everywhere. No one needs to swap old bills for new ones. This is how many countries handle new banknote launches. They keep old and new notes in circulation together. This approach was seen in reported earlier changes to coin production in Malaysia. The International Monetary Fund (IMF) and Bank for International Settlements (BIS) both say gradual changes help keep public trust and avoid payment problems.
Key figures and timeline
The guaraní has been Paraguay's currency for 83 years. The last full redesign was over 60 years ago. The new series will cover all current denominations: ₲2,000, ₲5,000, ₲10,000, ₲20,000, ₲50,000, and ₲100,000. Multiple independent sources confirm this. The design selection started in 2023. Reports say Oberthur Fiduciaire won the contract, but the BCP has not officially confirmed this. The unveiling is set for October 5, matching the currency's anniversary. No primary BCP documents confirm this exact date in open filings.
The BCP's choice to keep all denominations and guarantee the validity of every note gives people and businesses clear rules. There are no changes to exchange rates, payment systems, or legal-tender status. This matches what the Federal Reserve and other big central banks do. They avoid sudden changes to keep markets steady.
Paraguay's new banknotes will show more than just numbers. By putting culture and nature on its money, the BCP is changing how the country sees itself. All denominations stay. The transition is smooth. There is no confusion or rush to swap old notes. The focus on indigenous culture and biodiversity is a big shift from the old portrait style. Paraguay's currency now becomes both a tool for daily life and a mirror of its roots.
Banknote design is not just about looks. It shows what a country values. The new guaraní notes will remind Paraguayans every day of their culture and landscape. The BCP's careful rollout keeps trust in the currency strong. Other countries have shown that the images on money can shape how people see themselves-without making daily transactions harder. That is the real change.
