SEK to PYG

PYG - Paraguayan Guarani (₲)

Paraguayan Guarani

The Guaraní is the official currency of Paraguay. It was subdivided into 100 céntimos, but they are no longer in use.

The Paraguay Guarani is the currency in Paraguay (PY, PRY). The symbol for PYG can be written G. The Paraguay Guarani is divided into 100 centimos. The exchange rate for the Paraguay Guarani was last updated on May 24, 2019 from Yahoo Finance. The PYG conversion factor has 5 significant digits.

Economy

• Paraguay owns an economical market that is characterized with a huge non-formal region.
• Agriculture dictates the economic system, however inequal land partition has caused in a huge area of peasant farm workers.
• A large proportion of the inhabitants is uninvolved within the formal economy; instead working in agriculture.
• Lately, the economic system has grown because of increased agrarian exports, particularly soybeans.
• Fiscal fluctuations, particularly in financial policy, have helped to develop Paraguay’s economic state.
• Paraguay benefits from the increased wealth of a younger population as well as huge hydroelectric capability. However, very few natural resources and political instabilitystate has undercut many of the country's economic advantages at present.
• Paraguay was probably the most agrarian economic system within South America, and that region influenced with the efficiency of just about every single area of the economic state.

History

• The primary Guaraní notes had been of fifty céntimos, 1o, 5, and 1 Guaraní over stamped on 50, a hundred, 500, and one thousand Pesos since 1943.
• The currency family further expanded with the issuance of 5,000 and 10,000 Guaranies.
• The 1982 revision added denominations within the Guaraní language to the reverses.
• The first 50,000 Guaraníes banknotes were circulated in 1990, as well as 100, 000 Guaraníes in 1998.
• Modern 50,000 Guaraníes banknotes were issued in 2005, however several forgeries came into existance prior to the official introduction.  As such, these bills were declared fake and worthless by the central bank.
• Starting in 2004, all existing denominations, except 50,000 Guaraníes, underwent small adjustments, such as a more subtle and borderless watermark and enhanced safety features.

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SEK - Swedish Krona (kr)

The Swedish krona (plural: kronor) is the official currency of Sweden. Its commonly used code is SEK and its symbol is ‘kr’. The most popular krona exchange is with the euro. The krona is the ninth most traded currency in the world. Its currency conversion factor has 6 significant digits. The krona is a fiat currency.

The Swedish Krona has been the currency of Sweden since 1873. It is issued by the Swedish central bank, Sveriges Riksbank. In English, the currency is sometimes referred to as the Swedish crown (Krona means crown in Swedish).

The Swedish Krona is the currency in Sweden (SE, SWE). The Swedish Krona is also known as Kronas. The symbol for SEK can be written kr, Sk, and Skr. The Swedish Krona is divided into 100 ore. The exchange rate for the Swedish Krona was last updated on Today from The International Monetary Fund. The SEK conversion factor has 6 significant digits.

Economy

• Sweden has achieved an enviable standard of living, due to high-tech capitalism, extensive social benefits, a modern distribution system, and a highly skilled labor force.
• The economy is heavily oriented to foreign trade, utilizing a resource base of timber, hydro power, and iron ore.
• The global economic crisis of 2008 reduced export demand and consumption, causing the Swedish economy to slide into recession despite its strong finances and underlying fundamentals. Strong commodity exports contributed to a strong rebound in 2010-2011.

History

• The Swedish Krona was introduced in 1873, replacing the Riksdaler at par. The currency was introduced as a result of the Scandinavian Monetary Union with Norway and Denmark, which lasted until World War I. Currencies under the treaty were under the gold standard.
• The Monetary Union ended with the outbreak of World War I in 1914. Sweden abandoned the gold standard on August 2, 1914, and without a fixed exchange rate the union came to an end.
• By treaty, Sweden is required to join the eurozone and convert to using the Euro. However, most Swedes are opposed to adopting the currency. On September 14, 2003, 56% of a high turnout of voters rejected adopting the Euro. Taking advantage of a loophole, the Swedish government has opted not to join ERM II, a precondition to adopting the Euro.

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