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Paraguay (PY)

Affordable South American residency hub with low taxes, warm climate, Mercosur access, growing expat communities, and a practical base in Asuncion, Encarnacion and Ciudad del Este.

Capital: Asuncion
Region: Americas
Language: Spanish
Currency: PYG (Gs.)
Cost of living: Very affordable (index 25)
Emergency: 911
Free
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Currency & Money

Practical money tips for living in Paraguay.

Gs.
Paraguayan guarani
PYG

Denominations

Notes: 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 guaranies. Coins exist but small values are often irrelevant in daily expat spending.

Payment Culture

Paraguay is still cash-forward outside malls, chain supermarkets and higher-end restaurants. Cards and QR payments are common in Asuncion, but cash remains essential for taxis, markets, small shops, domestic help and rural travel.

ATM Tips

ATMs usually charge a local withdrawal fee and may have low per-transaction limits. Use bank ATMs inside branches or shopping centres, avoid street machines at night, and keep receipts because card disputes can move slowly.

Exchange Tips

US dollars are widely quoted for rent, property and larger transactions, but everyday spending is in guaranies. Use licensed casas de cambio, compare posted buy/sell rates, and avoid damaged USD notes because many businesses reject them.

Pro tip: Best apps for expats

  • • Wise — Send money internationally at near-interbank rates
  • • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
  • • N26 — German IBAN, free account, good for EU residents