Tuesday, May 4, 2021

Money & Shopping in Paraguay

South AmericaParaguayMoney & Shopping in Paraguay

Paraguay has a very rich and varied handicraft, from silver filigree (luque) to fine cotton lace in the form of Ñanduti (itaugua), everything is present. Also leather goods with local embellishments “repujado” (Atyra) and embroidery ao poi, encaje yu. Clay pottery (Ita) and weaving are also very popular, cheap and beautiful. Leather footballs are sold and handmade in the town of Quindy.

Currency

The currency is the Guarani (ISO code 4217: PYG). As of November 2015, it is the least valued currency in the Americas with 1 EUR = 5.997 PYG and 1 USD = 5.661 PYG.

Banknotes in denominations of PYG 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 are in circulation.

The sign for the currency is ₲. Before exchanging money, always check the exchange rate quotations on the Internet or in several major newspapers.

Awards

Paraguay has recently been ranked by several studies as the cheapest country in the world based on purchasing power parity. Prices in Paraguay are very low and a budget traveller will be able to get by on just US$7-14 per day, or even less if camping. A simple, clean hotel room outside Asunción should cost no more than US$10.

Tipping

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Service charges are included in the bill, and tips are rare.