Tags: Currency.
The peso was the currency of Paraguay between 1856 and 1944. It replaced the real at a rate of 8 reales = 1 peso. Until 1870 the peso was subdivided into 8 reales. Paraguay then decimalized with 100 centesimos = 1 peso. The name of the subdivision was changed to centavo in 1874. The peso was replaced in 1944 by the guaraní at a rate of one hundred to one.
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