50 Guaranies Banco Central del Paraguay

Paraguay's Banco Central was itself only established in 1952, making this 50 Guaraníes among the earliest notes issued under the new central banking framework that replaced the older Banco del Paraguay y Río de la Plata arrangements. The number of distinct signature combinations — six across the series — reflects the considerable ministerial and bank-presidency turnover during Stroessner's consolidation of power through the late 1950s.

The shift from notes without fibres to those with fibres at right marks a mid-run paper stock change by De La Rue, and collectors use it as the primary tool for sequencing issues within the series alongside the signature pairings.