Long overdue, Paraguay is redesigning its banknotes. Eventually.
Paraguay's central bank approved a complete redesign of the guaraní family in 2022—same denominations, same historical figures, but a unified format and new backs built around the country's eco-regions, fauna, and flora. Nearly four years on, it's approved but not issued: no final designs, no date.
I love a good banknote series, perhaps even more than a single great-looking banknote. There's something about looking at an array of coordinated banknotes—different but related colors and subjects all complementing each other—it just makes me happy.
I think this is why I've always been a bit disappointed in Paraguay's current family of notes. They've always felt more like cousins than siblings, and their style feels a bit dated. That's going to change. Someday.
Back in October 2022, the board of the Banco Central del Paraguay (BCP) approved a complete redesign of the guaraní family. The plan keeps the existing set of denominations—called the monetary cone—and keeps the historical figures on the fronts. What changes is everything else: a single homogeneous format across all denominations, and new backs built around Paraguay’s eco-regions, fauna, and flora. The BCP says it consulted historians, cultural experts, and biologists before settling the direction, then put the design and origination out to international public tender.
The bank’s 2025 annual report released June 2026 states the issuing process is “advancing," which, in central-bank time, can mean anything from “contracts are imminent” to “still advancing two years from now.” When it does happen, the changeover will be gradual: old and new notes will circulate side by side until the replacement is complete.
Still, there's no firm issue date, no released final designs, and no confirmed denomination changes—though the monetary cone is meant to stay put. While I'm impatient when it comes to new issues, I cannot fathom all the work that goes into a complete redesign and rollout.
I’ll add info as the BCP releases it, but as with much to do with new issues, things can change a lot. Treat everything above as the latest known info, not issued fact.
Timeline
- Oct 5, 2022 — BCP board approves the new-family project and moves toward an international design tender. Source: Banco Central del Paraguay.
- June 2026 — BCP’s 2025 annual report says work on issuing the new family is advancing; no date set. Source: La Nación (in Spanish).
