US Dollars->Guaranis->Paraguayan Bank Account

What is the best way to convert to Guaranis?
http://www.guidetoparaguay.com/2008/12/ … html#links

How much cash is advisable to bring through the airport?
To be honest IŽm not sure how much the legal limit is - maybe try calling Aduanas (Customs) to find out? (595 21) 416 2100.

In the past I have bought Traveler's Cheques.  Can a little be saved by opening a Paraguayan bank account and transferring funds from the US?

Getting a Paraguayan bank account is almost impossible without a Paraguayan ID card ("cédula de identificación"). The process for getting one of those is pretty complicated as well, but doable. In addition there are no banks here with direct partners in the US. I have never seen anyone use TravelerŽs Cheques here. My guess is that they might be accepted at some of the larger international hotels (Sheraton) and banks. If you bring them definitely cash them before leaving Asunción. A lot of smaller cities here donŽt even have ATMs - this is very much a cash economy outside of fancier areas.

I recall my father in law who is Spanish opened a saving account on a bank as a procedure for obtaining his residence permit.

they asked him his passport and a letter from his bank back home.

the bank was visionbanco.com

did you ever find out how much is allowed Mike?

No, i didn't find out how much is allowed to be brought into Paraguay.

From the US side, movement of $10,000  is considered 'suspicious'..

Regarding Capelo's father-in-law opening a bank account without a problem, I gather from the dual citizenship thread that Spain (or being Spanish) seems to enjoy a special consideration from the Paraguayan government.

Thanks Melusine for bringing this thread up again.

If you are bringing cash, try to use denominations lower than $100.  There are a couple series of $100 Bills that WILL NOT be exchanged**. 

This was due to rampant forgeries.  If I can find the specific series or if this has changed as of late, I will repost.

If you end up having a series of bill that can't be exchanged at a bank or cambio, you can go to the airport and exchange it with one of the "street" cambio guys (I don't know what they're called).  You will have to negotiate the exchange rate with them, so be aware of what the current rate is.  They'll try to take a big haircut if they can get away with it.

**This happened to me in 2008, so the situation may have improved by now.

From what my wife just discovered over the last few weeks in trying to exchange some $100's in Asuncion, most banks are leery about accepting series "CB" or "D" $100 bills right now.  But as a last resort she tried the cambio at Shopping Del Sol and they accepted a the couple she had of those series without even blinking.  So go figure?