50 000 Guaranies without staircase metallic

Paraguay's highest-denomination note of the 1990s, the 50,000 Guaraní was introduced as chronic inflation steadily eroded the purchasing power of lower values — by the mid-1990s, the Guaraní had lost the vast majority of its real value since its introduction in 1944. Thomas De La Rue produced the series with a security thread and watermark as the primary anti-counterfeiting measures, a relatively modest specification for a note of this face value at the time.

The "without staircase metallic" designation distinguishes this P#217 from a later variant incorporating a windowed metallic security thread with a stepped, or staircase, pattern — a De La Rue innovation increasingly specified by central banks through the late 1990s.