Currency Rate
Paraguayan Guarani to USD
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Buying rate
PYG 0.000108
Selling rate
PYG0.000142
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The Paraguayan guaraní (symbol: ₲; code: PYG) is the official currency of Paraguay.
Currency Details
- Country code PY
- Symbol PYG
- ISO Code PYG
- Subunits 1 Guaraní = 100 Céntimos
Coins
- 50 guaraníes
- 100 guaraníes
- 500 guaraníes
- 1000 guaraníes
Banknotes
- 2000 guaraníes
- 5000 guaraníes
- 10000 guaraníes
- 20000 guaraníes
- 50000 guaraníes
- 100000 guaraníes
The Paraguayan Guaraní, abbreviated as PYG, is the official currency of Paraguay. Symbolized as "₲", it is one of the few currencies in the world not subdivided into smaller units. Introduced in 1943, the guaraní replaced the Paraguayan peso at a rate of 1 guaraní = 100 pesos, becoming a symbol of national identity in this landlocked South American nation.
History and Background
The guaraní takes its name from Paraguay's indigenous Guaraní people, making it one of the few currencies honoring native populations. Its creation marked Paraguay's economic recovery after the devastating War of the Triple Alliance (1864-1870). The currency remained relatively stable until the 1980s when inflation led to higher denominations. Today's banknotes feature national heroes like Marshal Francisco Solano López and important cultural symbols, with denominations ranging from ₲2,000 to ₲100,000.
The guaraní takes its name from Paraguay's indigenous Guaraní people, making it one of the few currencies honoring native populations. Its creation marked Paraguay's economic recovery after the devastating War of the Triple Alliance (1864-1870). The currency remained relatively stable until the 1980s when inflation led to higher denominations. Today's banknotes feature national heroes like Marshal Francisco Solano López and important cultural symbols, with denominations ranging from ₲2,000 to ₲100,000.
Economic Significance
Managed by the Central Bank of Paraguay, the guaraní reflects Paraguay's unique position as South America's largest electricity exporter (thanks to Itaipú Dam) and a major agricultural producer (soybeans and beef). While the currency floats freely, the economy maintains a degree of dollarization, especially in real estate and large transactions. Paraguay's low inflation rate in recent years (averaging 4%) has brought stability to the guaraní, unusual among its South American peers.
Managed by the Central Bank of Paraguay, the guaraní reflects Paraguay's unique position as South America's largest electricity exporter (thanks to Itaipú Dam) and a major agricultural producer (soybeans and beef). While the currency floats freely, the economy maintains a degree of dollarization, especially in real estate and large transactions. Paraguay's low inflation rate in recent years (averaging 4%) has brought stability to the guaraní, unusual among its South American peers.
Usage and Exchange
In Paraguay, cash remains king - especially in rural areas and at the famous Mercado 4 in Asunción. While urban businesses accept cards, vendors typically add a 5-10% surcharge. US dollars are widely accepted near borders, but guaraníes are essential elsewhere. Exchange offices (casas de cambio) offer better rates than banks, particularly in Ciudad del Este, the bustling tri-border commerce hub. Note: Paraguay uses both "₲" and "Gs." as currency symbols interchangeably.
Conclusion The Paraguayan guaraní embodies the nation's indigenous roots and economic resilience. From Asunción's colonial plazas to the Chaco's ranchlands, handling guaraníes connects visitors to Paraguay's unique blend of cultures. As this often-overlooked country gains economic momentum, its distinctive currency - with its unusual symbol and high-denomination notes - offers tangible evidence of Paraguay's quiet transformation.
In Paraguay, cash remains king - especially in rural areas and at the famous Mercado 4 in Asunción. While urban businesses accept cards, vendors typically add a 5-10% surcharge. US dollars are widely accepted near borders, but guaraníes are essential elsewhere. Exchange offices (casas de cambio) offer better rates than banks, particularly in Ciudad del Este, the bustling tri-border commerce hub. Note: Paraguay uses both "₲" and "Gs." as currency symbols interchangeably.
Conclusion The Paraguayan guaraní embodies the nation's indigenous roots and economic resilience. From Asunción's colonial plazas to the Chaco's ranchlands, handling guaraníes connects visitors to Paraguay's unique blend of cultures. As this often-overlooked country gains economic momentum, its distinctive currency - with its unusual symbol and high-denomination notes - offers tangible evidence of Paraguay's quiet transformation.