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5 Pesos Fuertes Oficina de Cambios
| Issuer | Oficina de Cambios, Paraguay |
|---|---|
| Year | 1923 |
| Type | Standard circulation banknote |
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|---|---|
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| Signature(s) | Mariano B. Moreschi & Alfredo Jacquet Mariano B. Moreschi & Justo Pastor Benítez Mariano B. Moreschi & Pablo M. Insfrán |
| Protection type | Watermark |
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| Comments |
Paraguay's Oficina de Cambios — a state exchange office rather than a central bank — issued this note during a period when the country still lacked a proper banking institution capable of managing currency. The Banco de la República had collapsed in 1904, and it would be 1936 before the Banco del Paraguay was established, leaving the Oficina to fill a prolonged institutional vacuum. Three signature combinations are recorded for P#149, each pairing Moreschi with a different co-signatory, suggesting the note remained in issue across multiple administrations.
ABNC plates for Paraguayan issues of this period were often shared or adapted across denominations, worth checking against the 1916 and 1920 series for plate reuse.