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200 Pesos Fuertes Oficina de Cambios
| Issuer | Oficina de Cambios del Paraguay |
|---|---|
| Year | 1923 |
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| Printer | American Bank Note Company, New York, United States |
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|---|---|
| Obverse lettering | Republica del Paraguay LA NACION RECONOCE ESTE BILLETE POR 200 Doscientos Pesos FUERTES QUE PAGARA CONFORME A LA LEY Nº 463 DE 30 DE DECIEMBRE DE 1920 Y LEI Nº 550 DE 25 DE OCTUBRE DE 1923. POR LA OFICINA DE CAMBIOS (Translation: Republic of Paraguay The Nation Recognizes this Banknote by Two Hundred Pesos Fuertes that you will pay in accordance with Law no. 463 of December 30, 1920 and Law no. 550 of October 25, 1923 for the Exchange Office) |
| Reverse description | Printed in orange, the reverse carries an allegorical female head vignette at left and the Paraguayan Coat of Arms — rendered as a star surrounded by flags — at right. The denomination numeral and country name are set in bold lettering across the design. |
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| Comments |
The Oficina de Cambios del Paraguay was a state exchange office rather than a central bank, created to manage the chronic currency instability that plagued Paraguay through the early twentieth century. Notes issued under this authority circulated alongside Banco de la República paper, creating persistent public confusion about relative values. The five known signature combinations on P#153 — all retaining Moreschi in the first position — indicate extended use across multiple administrations, with Justo Pastor Benítez later becoming one of Paraguay's more prominent diplomatic figures.
The ABNC plate is reused across several Paraguayan issues of this period, making signature and series verification the primary means of precise attribution.