What is the principal currency unit of Paraguay?
Economy of Paraguay The standard workweek is 48 hours. In 2004 Paraguay's unemployment rate stood at 15 percent. 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. Paraguay is a member of the Common Market of the South (Mercado Común del Sur or Mercosur).
World currency unit The WCU – World Currency Unit (WCU) is an indexed unit of account that stands for a unit of real global purchasing power. Since each unit by design represents a stable unit of purchasing power, the stipulated interest rate on WCU-denominated bonds represents a real interest rate. In principle, the common denomination of bonds by issuers from different parts of the world using the WCU, as well as the greater transparency of real interest rates, will produce more efficient capital markets, as savers and borrowers around the world converge in their understanding of what each basis point of interest means