Economy of Paraguay - Currency, Exchange Rate, and Inflation

Currency, Exchange Rate, and Inflation

Paraguay’s currency is the guarani (PYG). In mid-October 2005, US$1 equaled about PYG6155.

Price inflation fell dramatically between 2003 and 2004, from 14.2 percent to a 30-year low of 4.3 percent. President’s Duarte’s economic reforms and austerity programs have produced results more rapidly than many expected. As of 2005, experts forecast that the inflation rate in Paraguay likely would rise in coming years but remain below 10 percent.

Read more about this topic:  Economy Of Paraguay

Famous quotes containing the word exchange:

    “Love is often nothing but a favorable exchange between two people who get the most of what they can expect, considering their value on the personality market.”
    —Erich Fromm (1900–1980)