Paraguay unveiled a completely redesigned family of guaraní banknotes on Monday, 5 October 2026, marking the currency’s 83rd anniversary. The Banco Central del Paraguay (BCP) presented new designs for all six denominations currently in circulation, combining historical figures, culture and biodiversity with updated security features. However, residents should not expect to find the new notes in their wallets immediately, as their gradual introduction is planned for the first quarter of 2027.
The new family covers the ₲2,000, ₲5,000, ₲10,000, ₲20,000, ₲50,000 and ₲100,000 notes. There will be no monetary reconversion, removal of zeros, or introduction of a new denomination. Existing banknotes will also remain valid. The BCP plans to introduce the redesigned notes gradually while withdrawing older ones through the normal replacement process.
New faces for Paraguay’s new Guaraní banknotes
Each denomination has been redesigned around a theme connected to Paraguay’s history, culture or national identity.
The ₲2,000 note pays tribute to Paraguay’s indigenous peoples, while the ₲5,000 denomination focuses on the legacy of the missions. It features Roque González de Santa Cruz and Fray Juan de San Fernando.
The ₲10,000 note honours José Gaspar Rodríguez de Francia and Carlos Antonio López, two central figures in the country’s early history.
Then, the ₲20,000 note features two prominent Paraguayan military and political figures: Francisco Solano López, who led the country during the War of the Triple Alliance, and José Félix Estigarribia, commander of Paraguayan forces during the Chaco War and later President of Paraguay.
Paraguayan women and education take centre stage on the ₲50,000 note, which features educators Adela and Celsa Speratti. The sisters played an important role in the development of education in Paraguay during the late 19th century.
The highest denomination, ₲100,000, turns its attention to Paraguayan music and art. It features two of the country’s most internationally recognised musicians and composers, Agustín Pío Barrios and José Asunción Flores.
The changes mean several familiar faces will move or disappear from the denominations where Paraguayans are accustomed to seeing them. Barrios, for example, has long appeared on the ₲50,000 note but will now feature on the ₲100,000 denomination.
The designs also incorporate Paraguay’s natural heritage. Landscapes, native species and ecosystems such as the Chaco, Pantanal and Atlantic Forest are represented across the new family.
Different sizes
One of the most noticeable changes will be visible even without looking at the designs. Paraguay’s new banknotes will have different lengths depending on their denomination. The ₲100,000 note will be the longest, with the size progressively decreasing towards the ₲2,000 note. The denominations will have a difference of seven millimetres in length while maintaining the same width.
The change is intended to make the currency easier to identify, particularly for people with visual impairments. In a way, the decision also takes Paraguay’s currency back to its beginnings. Early guaraní banknotes were issued in different dimensions before standardised sizes were introduced with the second family of banknotes in 1963.
Another practical change concerns the ₲10,000 note, which will move from cotton paper to polymer. It will join the ₲2,000 and ₲5,000 denominations, which are already produced using the more durable material. The ₲20,000, ₲50,000 and ₲100,000 notes will continue to be made from cotton-based material.
More security
The redesign is not only aesthetic. The BCP has incorporated updated security technology intended to make the new notes easier to authenticate and more difficult to counterfeit. Security elements include raised printing, security threads, watermarks and optically variable features. Details differ depending on the denomination and material.
The project has been under development since 2022. Its preparation involved specialists from different fields, including historians, cultural experts and biologists, as the BCP sought to combine monetary security with a broader representation of Paraguay.
83 years of the guaraní
The BCP selected 5 October for the unveiling because the date marks the anniversary of Paraguay’s national currency. The guaraní was established as Paraguay’s monetary unit on 5 October 1943 through Decree-Law No. 655, replacing the Paraguayan peso. The first banknotes denominated in guaraníes entered circulation the following year.
The 2026 presentation therefore marked 83 years since the currency was created and opened another chapter in its history. Although the designs have now been revealed, residents will have to wait a little longer before seeing them at shops, restaurants and cash machines. The first new notes are expected to begin circulating gradually during the first quarter of 2027, alongside the banknotes already in use.
Want to know more about the current Paraguayan banknotes? Read The Asunción Times‘ series Money Talks.
