Sending money to Paraguay: euros to guaraní, without losing money to fees

Paraguay uses the guaraní (PYG), and at current rates roughly €1 equals 6,900-7,500 guaraní. This moves daily — always check the live rate rather than trusting a number in an article. Getting your money there efficiently matters more than people expect, because the fees hiding in a bad exchange rate can be far larger than any visible transfer fee.

The real cost is usually the exchange rate, not the fee

Many banks and older transfer services advertise "no fee" or "low fee" while quietly marking up the exchange rate itself — sometimes by 3-5%. On a transfer of a few thousand euros, that's a meaningful, invisible cost. Services that use the mid-market rate (the real, interbank rate) with a transparent, separate fee are usually cheaper overall, even if the fee itself looks bigger on paper.

What most people actually use

Wise and similar mid-market-rate transfer services are the most commonly used option among expats for routine transfers — transparent fees, real exchange rate, and typically a few business days for the money to arrive. For larger, one-off amounts, like the funds needed for the Investor Pass or a solvency requirement, a direct bank wire is sometimes necessary, and it's worth asking your Paraguayan bank in advance exactly what documentation they'll require to receive it without delays.

Cash and cards day-to-day

Once you're in Paraguay, credit and debit cards work fine in Asunción's malls, supermarkets, and larger restaurants, but cash (guaraní) is still expected for taxis, markets, and smaller vendors — including outside the capital. This is worth factoring into your monthly budget alongside the rest of your cost of living in Asunción. Casas de cambio (licensed exchange houses) generally offer better rates than airports or hotels for exchanging cash on the ground.

The practical takeaway

Compare the total amount that actually arrives, not just the advertised fee — a transfer service's own comparison tools (or a quick manual calculation against the live mid-market rate) will show you the real cost in minutes.