REPÚBLICA DEL PARAGUAY 100 CIEN GUARANIES RUINAS DE HUMAITA 1865/70 CIEN GUARANIES
(Translation: Republic of Paraguay One Hundred Guaranies Humaita ruins 1865/70 One Hundred Guaraníes)
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.
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.