Purple and light blue on multicolor underprint. Image of the Paraguayan Soldier on right, issuer name on top, face value on numbers on top and bottom left, and on right edge turned 90º; on letters on center. Map shape of the country, as background of face value, flanked by the two official coats of arms. Watermark on left, and perfect match printing device (Frisian cap) to right of watermark area. Serial numbers vertical red on left, horizontal green on bottom right. Security thread to right of center. Like P#217, but with staircase metallic impression at lower left corner.

Lettering: 50000 BANCO CENTRAL DEL PARAGUAY EL BANCO CENTRAL DEL PARAGUAY RECONOCE ESTE BILLETE POR CINCUENTA MIL GUARANIES Serie 1998 ESTE BILLETE TIENE CURSO LEGAL Y FUERZA CANCELATORIA ILIMITADA EN TODO EL TERRITORIO DE LA REPUBLICA (LEY 489 DEL 29 DE JUNIO DE 1995) SOLDADO PARAGUAYO 50000

Multicolor print. House of Independence on center, face value in numbers on all 4 corners; on left and right, turned 90º; and in letters in Guarani language at bottom. Issuer name on top.

Lettering: BANCO CENTRAL DEL PARAGUAY CASA DE LA INDEPENDENCIA POPA SU GUARANI