What Is The Currency Of Paraguay?

What Is The Currency Of Paraguay?

If you are travelling to Asunción, shopping near the Triple Border, sending money to family, or pricing goods and services locally, understanding Paraguay currency helps more than people expect. Paraguay uses large-number pricing, remains cash friendly in many situations, and continues to modernise how people pay.

So, what is the currency of Paraguay? Paraguay’s official currency is the Paraguayan guaraní, commonly written as Gs. and often shown with the symbol ₲. The international currency code used by banks and FX platforms is PYG. The guaraní is issued by the Banco Central del Paraguay (BCP).

This guide explains the currency of Paraguay, the notes and coins you will actually use, how exchange rates are set, and practical tips for handling currency in Paraguay without confusion.

The Currency Of Paraguay: Paraguayan guaraní

The official currency of Paraguay is the guaraní. According to the BCP, the guaraní was established by Decree Law No. 655 on 5 October 1943, and banknotes entered circulation from 1944. The BCP also describes the currency sign as a crossed “G”, commonly represented as ₲ in modern typography.

In formal terms, the guaraní is defined with a subunit (100 parts). In real life, however, currency in Paraguay is handled in whole numbers, and you are unlikely to see cents used in day-to-day transactions. 

For travellers and first-time users, the key point is simple: prices are usually quoted in thousands and even millions of guaraníes, and that is normal for the Paraguay currency system.

Currency Of Paraguay Code And Symbol

When you see the currency of Paraguay in banking apps, exchange platforms, or travel spending tools, these identifiers matter:

• Currency code: PYG
• Currency symbol: ₲ (and commonly “Gs.” in local pricing)

Including these early improves clarity for readers searching for currency in Paraguay because it helps them confirm they are viewing the correct unit before exchanging.

Banknotes And Coins In Circulation In Paraguay

Many online pages list outdated denominations, which can confuse readers the moment they arrive and start using cash. For accuracy, it helps to anchor your article to what the central bank states.

Banknotes (Notes)

The commonly used banknotes in circulation are:

• ₲ 2,000
• ₲ 5,000
• ₲ 10,000
• ₲ 20,000
• ₲ 50,000
• ₲ 100,000

Coins

The common coins in circulation are:

• ₲ 50
• ₲ 100
• ₲ 500
• ₲ 1,000

A Simple Way To Think About Currency In Paraguay

Because Paraguay currency values are large, it helps to build quick reference points. A ₲10,000 note often covers small everyday purchases. ₲50,000 is a frequent mid-range amount for casual spending. ₲100,000 is used for larger payments such as bigger shopping baskets or higher bills.

If you are travelling, a practical mix is several ₲10,000 and ₲20,000 notes for daily use, plus a ₲50,000 or ₲100,000 note for flexibility, with coins for small change. This makes currency in Paraguay much easier to handle in taxis, markets, and smaller shops.

How Prices Are Written In Paraguay Currency

Pricing formats can be a small but important point when dealing with currency of Paraguay. You may see prices written like ₲ 35.000 or Gs. 120.000. In many contexts, the dot is used as a thousands separator, meaning ₲ 35.000 equals ₲35,000, not ₲35.00.

This matters most in markets, transport, and fast-paced retail situations where prices are spoken quickly. If you are unsure, ask the seller to repeat the amount slowly or confirm by typing it into your phone. A quick clarification can save you from a simple but expensive misunderstanding when using Paraguay currency.

Paraguay Currency Exchange Rates

Exchange rates move daily, so a good guide should explain two things clearly: where to check a reliable baseline, and why your actual rate may differ when you exchange money.

How The Central Bank Reference Rate Works

The BCP publishes a daily reference exchange rate. For the U.S. dollar against the guaraní, the reference rate is calculated as a weighted average of interbank spot-market operations. Other currencies are then derived using market quotations and the USD reference rate.

This reference rate is useful because it gives you a neutral benchmark. If you are comparing rates offered by banks, exchange houses, or card payments, the BCP reference is one of the cleanest baselines for judging whether the rate you are getting on Paraguay currency is reasonable.

Example USD To PYG Rate (Dated Snapshot)

To help readers understand the scale of the currency of Paraguay, it is useful to include one dated example. For instance, on 6 February 2026, BCP’s published reference rate shows USD 1 = ₲ 6,593.97.

Keep this clearly labelled as an example because the number will change. A single “as of” date protects the article from looking inaccurate later while still giving readers a realistic sense of how currency in Paraguay compares to the U.S. dollar.

Where To Exchange Currency In Paraguay

If you are converting foreign currency into Paraguay currency, the goal is convenience without paying an unnecessary spread.

Common Options

• ATMs: convenient in major areas, but check your bank’s fees and withdrawal limits.
• Banks: reliable, but sometimes slower with stricter requirements.
• Authorised exchange houses (casas de cambio): often competitive in commercial areas and border cities.

A Practical Card Tip

If a payment terminal offers to charge you in your home currency rather than PYG, choose PYG when possible. Paying in your home currency can involve additional conversion markups, while paying in local currency typically leaves conversion to your card network and issuing bank.

Paying With Currency In Paraguay

Older travel guides sometimes describe Paraguay as cash-only. In reality, it is more accurate to say currency in Paraguay is cash-friendly, while cards are widely used in many urban settings.

• Cash is still common for small purchases, local markets, and everyday transport.
• Cards are widely accepted in hotels, larger shops, and many restaurants in cities.

For visitors, the simplest approach is to keep enough Paraguay currency for daily spending and use cards for larger purchases in established businesses.

New Banknotes Of the Paraguay Currency

Paraguay has been working on a new family of banknotes to modernise designs and security features. This is worth mentioning because some readers worry that new banknotes mean a redenomination.

BCP’s project communications make the key point clear: this is not a move to remove zeros or change the value of the currency. It is a design and security update while maintaining the existing denomination structure. If you see headlines about “new banknotes”, interpret it as modernisation of the Paraguay currency system rather than a sudden conversion.

Conclusion

Once you understand the basics, Paraguay currency is straightforward. The currency of Paraguay is the guaraní (PYG), prices are typically written in large whole numbers, and the best way to avoid overpaying is to benchmark against an official reference rate before exchanging. 

Keep cash for day-to-day spending, use cards where it makes sense, and remember that banknote updates are focused on security and design, not changing the value of currency in Paraguay.

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