USD to PYG for business payments
To pay a Paraguayan supplier in guaraníes, convert US dollars to Paraguayan guaraníes (PYG) and pay its guaraní account; to pay in dollars, wire USD to its dollar account. Paraguay has no controls on foreign exchange, and banks take deposits in both currencies, so either works. This page covers how the guaraní is set, the reporting rules, the details to collect, the costs and how to choose.
- The guaraní is issued by the Banco Central del Paraguay (BCP), and a BCP board member told Última Hora in April 2026 that the exchange rate is free and fluctuating and that the bank targets inflation, not an exchange rate.
- The US International Trade Administration states that Paraguay has no controls on foreign exchange transactions and that importers and exporters can buy and sell foreign exchange freely at market rates.
- Paraguayan banks must report transactions of more than $10,000, according to the International Trade Administration.
- Banco Familiar's form for transfers abroad of USD 10,000 or more has the character of a sworn statement under SEPRELAD Resolution 349/2013.
- Under the BCP's organic law, the guaraní is Paraguay's sole legal currency and the BCP the only issuer of notes and coins.
The guaraní and how its rate is set
The Paraguayan guaraní (code PYG) is issued by the Banco Central del Paraguay (BCP). As Última Hora reported from a BCP statement, the BCP's organic law makes the guaraní the sole legal currency and the BCP the only issuer of notes and coins.
The guaraní is not pegged. In Última Hora on 28 April 2026, BCP board member Liana Caballero described the exchange rate as free and fluctuating ("libre y fluctuante"), said the bank's objective is inflation, not an exchange rate, and said no intervention was planned to change the rate. The rate you get therefore depends on the bank, finance company or exchange house that converts, all of which the International Trade Administration says deal at market rates.
| Item | Paraguay |
|---|---|
| Currency and code | Paraguayan guaraní, PYG |
| Issuer | Banco Central del Paraguay (BCP), sole issuer of notes and coins |
| Exchange rate | Free and fluctuating, as described by the BCP; policy targets inflation |
| Exchange controls | None on foreign exchange transactions |
| Reporting | Banks report transactions of more than $10,000 |
| Bank supervisor | Banking Superintendency, part of the BCP |
| Company tax number | RUC |
Sources: Última Hora, 28 April 2026; Última Hora, BCP statement; International Trade Administration, Paraguay trade financing. As published on 29 October 2026.
Reporting rather than restriction
The Country Commercial Guide for Paraguay, last published on 5 March 2024, states that there are no controls on foreign exchange transactions and that importers and exporters can buy and sell foreign exchange freely at commercial banks, finance companies and exchange houses. A Paraguayan supplier can therefore receive dollars, keep them in dollars and convert when it chooses.
The obligations that exist are about information, not permission:
- Bank reporting. Banks must report transactions of more than $10,000. Larger payments to a supplier are routine but recorded, so the invoice and contract matter.
- Sworn statement on the way out. Banco Familiar's outgoing transfer form, for transfers of USD 10,000 or more, has the character of a sworn statement (declaración jurada) under Resolution 349/2013 of SEPRELAD, the anti-money laundering secretariat. A sworn statement is a declaration signed as true, so a false entry carries legal consequences.
- Withholding on digital services. The same form records that the client authorizes tax withholdings on payments abroad for digital services under Law 6380/19. This applies when your Paraguayan counterparty pays you for software or platform services, not when you pay it.
Paying from Paraguay and paying into Paraguay are therefore asymmetric: your payment in arrives without a form on your side, while the supplier's own payments abroad above USD 10,000 come with a sworn statement of purpose.
Details you need to pay a Paraguayan supplier
Paraguayan banks hold accounts in US dollars and guaraníes. A buyer abroad pays a dollar account by SWIFT wire through the bank's US correspondent, quoting the bank's SWIFT code and the company's account number. Banco Familiar's form shows the fields a Paraguayan bank works with for an international transfer, and the same set is what you should collect from a supplier.
| Field | What to collect |
|---|---|
| Beneficiary | Account number; legal name, address, city and country; tax registration number (RUC) |
| Beneficiary bank | Name, address, city, country and SWIFT code |
| Intermediary bank | Name and SWIFT or ABA code, if the payment routes through one |
| Reference | Invoice number or other reference for the beneficiary |
| Charges | SHA (each side pays its own bank) or OUR (sender pays all) |
| Account currency | USD or PYG |
Source: Banco Familiar, transfer form (USD). Each bank uses its own form. As published on 29 October 2026.
The ABA code is the nine digit routing number that identifies a US bank. Confirm the supplier's SWIFT code with our SWIFT code lookup and confirm any change of bank details by phone.
What converting USD to PYG costs
A conversion costs the mid-market rate plus the margin of whoever converts, plus the payment fee. Because the BCP does not target a rate, the guaraní price of a dollar differs between banks, finance companies and exchange houses at the same moment, so the margin is the number to compare. If you pay dollars into a dollar account, there is no conversion; the costs are the wire fee and any intermediary deductions, which OUR charges move to you.
Ask the supplier which account will receive the money before you send. A dollar wire into a guaraní account is converted by the supplier's bank at its own rate, and the supplier may ask you to cover any shortfall.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Helm pays suppliers by SWIFT and by local rails in the supplier's currency where available, confirmed by your account manager, with the rate, fee and expected arrival shown before you confirm. See Helm pricing.
Pay in USD or in PYG?
| Situation | Better choice | Why |
|---|---|---|
| Exporter or re-exporter with a dollar account | USD | No conversion; it can keep the dollars to pay its own suppliers |
| Supplier with a guaraní price list and local costs | PYG | It receives a fixed guaraní amount; you carry the exchange risk |
| Supplier asks for USD into a guaraní account | Ask for the dollar account | Its bank would convert at its own rate |
| Large payment above $10,000 | Either, with full documents | Banks report transactions above $10,000 |
Sources: International Trade Administration; Banco Familiar. As published on 29 October 2026.
Paraguayan companies that sell to you and want US account details can read our guide to a USD business account in Paraguay.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Is the Paraguayan guaraní a floating currency?
The BCP describes the exchange rate as free and fluctuating, and a BCP board member told Última Hora in April 2026 that the bank targets inflation, not an exchange rate.
Does Paraguay have exchange controls?
No. The US International Trade Administration states that there are no controls on foreign exchange transactions and that importers and exporters can buy and sell foreign exchange freely at market rates.
Can I pay a Paraguayan supplier in dollars?
Yes. Paraguayan banks take deposits in dollars and guaraníes. Ask for the supplier's dollar account and the bank's SWIFT code.
Is there a reporting threshold in Paraguay?
Yes. Banks must report transactions of more than $10,000, and bank forms for transfers abroad of USD 10,000 or more are sworn statements under SEPRELAD Resolution 349/2013.
Who issues the guaraní?
The Banco Central del Paraguay. Under its organic law, the guaraní is the sole legal currency and the BCP the only issuer of notes and coins.
References
- Última Hora: Dólar baja y el BCP descarta intervenir el mercado (28 April 2026)
- Última Hora: El BCP ratifica advertencias acerca de criptomonedas
- International Trade Administration: Paraguay Country Commercial Guide, trade financing
- Banco Familiar: Solicitud de transferencia al exterior (USD)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.