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 I´m 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 Traveler´s 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 don´t even have ATMs - this is very much a cash economy outside of fancier areas.