Paraguayan economy is not the prime thing the country can boast of, in contrast to travel destination and enormous quantity of sightseeing attractions. In fact, it is pretty focused on business activity on the territory of its neighbors – Argentina and Brazil, which influence much on trade, communication and, of course, financial state of Paraguay. In this context, currency implementation and involvement is an issue to consider for those ones, who are intended to pay a visit to this Latin-American country, as far as it is a crucial part of arrangement a trip.

1.The national currency is Guarani, named after the indigenous people, who inhabited the territory of the country long before its establishment as national state till modern times. In addition, Guarani is the second national language of the state, notwithstanding its higher distribution in the suburban area. However, coins with Guarani are also in the circulation. In particular, usually foreigners are confused, when they see a coin with a script “su guarani”; the thing is that on Spanish it is read “Your Guarani”, but on Guarani language it means 1000 Guarani. Therefore, be attentive!

2.Although, Paraguayan Guarani currency rapidly loses its popularity and usage among both locals and visitors. There are two substantial factors, which encouraged such situation. The first one is that local currency cannot be stabilized in correspondence to the dollar currency rate. The second one is that Paraguay announced itself as free of tariffs area, which means that foreign money are more welcomed than local ones. As it was mentioned earlier, Argentina and Brazil are two countries, which impact on the growth of Paraguayan economy, which is why Brazilian real and Argentine peso (alongside American dollar) obtain bigger appreciation in the most of the facilities like hotels, hospitals, markets, etc.

3.There are some territorial differences in the circulation of Guarani currency, which is likely to be observed in Asuncion and big urban areas much more, than in other locations. On the east of the country cashiers can find some Guarani bank notes on the request on the contrary to the north, where small villages are deprived off foreign currency flow (less of tourists visit these lands).

4.The currency exchange is an out-of-ordinary phenomenon in Paraguay, as well as, one could guess, the specific spots of conversion. It is quite a problem for those ones, who have foreign money, except of dollars. All in all, it is highly recommended not to change money in private, but refer to banks in Asuncion, and if going somewhere within a country to make conversion operations in the capital area.

5.One more point to take into account is that there is only few banks and their working hours are rather limited: 10 AM – 16 PM. Hence, do not hesitate to change money while staying for a long time in Paraguay. If you want to make into Paraguayan capital of cheap shopping, Ciudad Del Este, it is possible to refer to Brazilian banks across the bridges, which work till late.

Natalia Krasnyanskaya, an author for VisitParaguay.net

Natalia Krasnyanskaya, an author for http://www.visitparaguay.net/ VisitParaguay.net

Author Bio: Natalia Krasnyanskaya, an author for VisitParaguay.net

Category: Travel
Keywords: Paraguay,currency in Paraguay,banks in Asuncion,dollars in Paraguay,Guarani currency