100 Guaranies Spanish value on reverse

The P#198 sits within a transitional moment for Paraguayan currency — the early 1960s saw the Banco Central working to stabilize the guaraní following the chronic inflation of the late Stroessner-era monetary mismanagement of the 1950s, when the currency lost catastrophic value before IMF-backed reforms took hold in 1957. By 1963, confidence was returning, and De La Rue's involvement was partly a credibility signal: Asunción wanted the international recognition that came with a London printer's imprimatur.

The "Spanish value on reverse" designation in the series distinguishes this issue from related printings where the denomination text treatment differs — a small but catalogically meaningful variation.