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    Currency in Paraguay PYG - Things to know

    Foreign exchange guide to Paraguay and the Paraguayan guarani

    Paraguay

    What currency is used in Paraguay?

    The official currency of Paraguay (country code: PY) is the Paraguayan guarani, with symbol Gs and currency code PYG.

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    Things to know about the Paraguayan guarani

    The Paraguayan guarani (PYG) is the official currency of Paraguay, a country located in South America. Here are a few things to know about the Paraguayan guarani:

    1. The Paraguayan guarani is abbreviated as PYG and is divided into 100 céntimos.
    2. The Central Bank of Paraguay is responsible for issuing and regulating the Paraguayan guarani.
    3. The exchange rate for the Paraguayan guarani is determined by supply and demand in the foreign exchange market.
    4. Paraguay has a large, diversified economy that is heavily reliant on agricultural exports, including soybeans, wheat, and corn. The country is also a major producer of hydroelectric power and has a growing manufacturing sector.
    5. The Paraguayan guarani has experienced significant depreciation in recent years due to economic challenges such as high inflation and a large trade deficit. In addition, Paraguay has faced political instability and conflict, which have also had an impact on the value of the Paraguayan guarani.

    Travel money for Paraguay

    Save money and time by Ordering your Paraguayan guarani online from Travelex, you get better rates and can pick up the PYG cash locally or even on travel day at the airport.

    Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

    For card purchases if offered a choice of currencies always select to Pay in Paraguayan guarani otherwise you may get much worst exchange rates.

     
     

    Travel Ideas and Money Tips for Paraguay

    Paraguay is the forgotten part of South America. Ignored by travellers for so long, the country has never built up its tourist infrastructure. But that is now its greatest charm. This is a country where you can truly get off the beaten track and experience the local culture. There aren’t a lot of large ‘sights’ in Paraguay for the average traveller. That’s one of the reasons why there hasn’t been a large number of tourists. But, as I’ll explain, there are some wonderful things to do which are much more enriching than the average landmark tours of other countries.

    What currency is used in Paraguay?

    The currency of Paraguay is the guarani (PYG). Banks in Paraguay are mainly found in the Asuncion and Villa Morra areas, with only 35 banks in total in the country. If traveling to rural areas, you should take cash with you from the capital, as credit card usage for purchases is not common. Most banks in Paraguay have limited opening hours, between 7:30 a.m. and 11:00 a.m. on weekdays, although they generally have a 24-hour ATM attached.

    Getting around in Paraguay.

    By far, bus travel is the most common form of public transport in Paraguay. Urban buses have routes around the big cities, although they are long so it can take a while to reach your final destination. Buses vary in shape and size, although generally they are old, mid-sized vehicles which don’t offer the most comfortable ride. Long distance buses in general are large and comfortable, although you can still expect a bumpy ride on some journeys over seldom maintained roads. Even though Paraguay was the first country in South America to have an operating railroad in the 1800s, as of 2006 there are no working regular passenger services. Almost all of the 235 mile railroad is disused.

    Although a landlocked country, Paraguay has over 1,900 miles of inland waterways, so it is possible that you may find yourself on a boat journey at some point in your trip. The Paraguay River, the huge waterway that divides the country in two, can be traveled with Crucero Paraguay who organizes scheduled tours departing from Asuncion. Self-driving around Paraguay is not particularly recommended since many of the long-distance roads are only one lane and in poor condition.

    What language is spoken in Paraguay?

    Paraguay has two official languages: Spanish and Guarani. Guarani is the native language of the indigenous people and has stood the test of time, even after many centuries of Spanish colonialism. It is largely spoken in rural areas. About 90 percent of Paraguayans speak Guarani. Spanish is spoken in the cities and urban areas although in the countryside, many people speak Spanish as a second language. There is a dialect called Jopara which is a mixture of Spanish and Guarani. English is spoken by most hotel and tour company staff. The cities in Paraguay are not the country’s most interesting places but it is inevitable that you will pass through a few of them if you are travelling around the country.

     
       

    USD/PYG Market Data

    The below interactive chart displays the USD/PYG change and UP📈 DOWN📉 trends over the past 1 Year.

     
    1 USD =
    7280.6We compare provider deals to this wholesale mid-market rate. Read more
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    Frequently Asked Questions

    What currency should I use in Paraguay?

    The domestic currency in Paraguay is the Paraguayan guarani.

    What is the Paraguayan guarani currency code and symbol?

    The three letter currency code for the Paraguayan guarani is PYG — symbol is Gs.

    Which countries use the Paraguayan guarani?

    It is the domestic currency in    Paraguay.

    Is the Paraguayan guarani a closed currency?

    No, the Paraguayan guarani is freely available and convertible. See guide: What is a closed currency?

    What are equivalent amounts of USD and PYG?

    USD PYG
    $ 1 Gs 7,281
    $ 5 Gs 36,403
    $ 10 Gs 72,806
    $ 20 Gs 145,612
    $ 50 Gs 364,030
    $ 100 Gs 728,060
    $ 250 Gs 1,820,150
    $ 500 Gs 3,640,300
    $ 1,000 Gs 7,280,600
    $ 2,000 Gs 14,561,200
    $ 5,000 Gs 36,403,000
    $ 10,000 Gs 72,806,000
    $ 20,000 Gs 145,612,000
    $ 50,000 Gs 364,030,000
    $ 100,000 Gs 728,060,000
    USD PYG
    $ 0.0001 Gs 1
    $ 0.0007 Gs 5
    $ 0.0014 Gs 10
    $ 0.0027 Gs 20
    $ 0.0069 Gs 50
    $ 0.0137 Gs 100
    $ 0.0343 Gs 250
    $ 0.0685 Gs 500
    $ 0.1370 Gs 1,000
    $ 0.2740 Gs 2,000
    $ 0.6850 Gs 5,000
    $ 1.3700 Gs 10,000
    $ 2.7400 Gs 20,000
    $ 6.8500 Gs 50,000
    $ 13.70 Gs 100,000

    More amounts

    Converted at USD/PYG interbank rate, compare Send Money and Currency Exchange exchange rates.

    Send Money to Paraguay - Best Rates

    To get a good (and fair) exchange rate when sending money to Paraguay you need to find and compare exchange rates for International Money Transfers (IMTs).

    The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

    You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.


    Get a better deal for foreign transfers to Paraguay

    When sending money to Paraguay it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Paraguayan guarani amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted PYG amount will be transfered to the recipient account you specify in Paraguay.

    Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Paraguayan guarani deposited into the recipient bank account and less margins and fees kept by the banks!

     

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