Currency Exchange In Peru

Peru’s Currency

Peru’s currency is the Peruvian Sol (PEN). The Peruvian sol banknotes come in denominations of 10, 20, 50, 100, and 200 soles. Coins have values of 1, 2, and 5 soles, along with 10, 20, and 50 centimos (cents).

Overall, the exchange rate in Peru is stable, so you shouldn’t have any trouble exchanging your currency. Just be sure to check the exchange rate and find the best place to exchange your currency to get the best deal.

Bringing in USD Cash from USA into Peru and Using Charge Cards

- Cash is king anywhere in the world, but LOCAL currency is best. You may be able to negotiate more or avoid extra fees.
- USING CHARGE CARDS: Although, the bigger cities will likely accept the plastic version, smaller shops, towns, and cafés may not accept cards. We have found VISA and Mastercard are the most widely accepted. AMEX is not as popular, honored mostly in larger institutions!
- If you plan to use a credit or debit card in Peru, make sure you contact your bank and let them know that you will be traveling. This avoids your account being blocked due to suspicious activity.
- Consider converting some of your USD into PEN while in the USA. NOTE: But do watch for conversion rates and commission (aka as “fees”) your bank will charge you.
- Do not bring in too much USD cash into Peru. You will not be able to convert USD currency into the country’s currency at any bank unless you have an account there. The ones that our experience has been limited only to “Fed Ex” offices. There are other “exchange spots”. Unfortunately, they are usually not convenient and have very expensive fees. (Below we list how much is the maximum that you can bring in without declaring it to the officials.)
- As tempting as it is (and you are NEVER that desperate) when hitting the airport, AVOID the Currency Exchange offices. Their commission and conversion rates are unbelievable. (Sometimes as much as 30% combined!)

OVERALL The Best Way To Get Local Currency:

We recommend using a DEBIT Card to pull local currency cash out of the ATMs. Furthermore (and most importantly), we suggest using ATMs that are connected (or associated with a bank). They usually do not charge a (or high) commission, and their conversion rates follow current banking quotes, and thus, are more forgiving.

Here’s a good article worth reviewing: “Using ATMs in Peru: Withdrawal Fees, Safety and More” LINK

Current (APRIL 2024) Approximate Exchange Rates:

In Peru, The current currency exchange rate is for every one USD ($1.00) will give you 3.73 (Sol).

Stay on top o current currency rates, day by day. The best way to do so is by downloading an App to provide this conversion. Also a quick google search “USD to Peruvian Sol” will do this for you as well.

CLICK HERE TO FIND good Apps to Download: Current Exchange Rates

How much money (cash) will I need?

This is a common question, with a variety of answers. Again, remember, the USD currency will not have a good place in Peru. The local currency is king. Just bring enough to get you to and from your USA to Peru travels (in the airports) for quick spends. We suggest under $200.

As a rule of thumb, avoid carrying large amounts of money with you, but make sure you have enough cash to cover your daily needs. Here are some ideas.

What you may wish to spend money on:

- COVERED: Remember, all your lodging, transfers, transportation, entries into activities listed on the itinerary are covered by your package.
- NOT Covered: Tipping of guides and coach drivers.
  Generarl Rule we recommend: Your General Tour Guide many be provided $10-20 (USD) per day, per person. This of course is decided on the type of service your recieved. It is best to pay with cash, but they may provide a Venmo or Paypal account to submit to.
  Guides/Representatives at local activities (that is not our General Guide): $2-10 per person after the activity is provided, if you feel it is merritted. Pay with cash.
- NOT Covered: Meals that are not included in the itinerary are not covered. All breakfasts, as a rule, are covered.
  If you’re on a tight budget, you can get by on $2 a meal from street vendors. If you’re willing to splurge and try more exquisite Peruvian food at a high-end restaurant, you’ll be looking at paying around $60 – $70 per meal.
  Typical Lunch could be: $10 – $20 (S/ 38 – S/ 80); A typical mid-range dinner is $15 – $19 (S/ 60 – S/ 80), but an inexpensive restaurant may run you $2.55 – $3.10 (S/ 10 – S/ 12).
- NOT Covered: Souvenir and treasures from Peru.
  We will be going to many villages with local Artisans. They may create their variety of beautiful handcrafts, including pyrography, hand painting, terracotta, knitting, and carvings.. Here’s a good article we found: “The Ultimate Guide to Peruvian Handicrafts: Where to Shop and What to Buy”, where you will find information on in specific areas we will be taking you to. LINK.

Tipping in Peru:

- For tipping our guides and coach drivers, see the section above.
- When it comes to tipping in Peru, it’s not customary to leave a tip, though some restaurants may add a service charge to the bill. You can round up the bill and leave the change as a tip if you’d like, but it’s not expected.
- If you wish to do so, tipping is generally done in local currency.

Additional Information:

- Research if your bank is part of the Global ATM Alliance to find out if you can make cash withdrawals for free. If not, you can access cash in Peru for roughly the same price you would at home. GOOD ARTICLE
- American Express is not friendly outside of the USA. Make sure you have a VISA or MasterCard as a backup. The larger institutions, such as hotels, usually do accept AMEX.
- Limit of how much cash you can bring into Peru: $30,000 USD or its equivalent in cash or negotiable items is the maximum allowed for entry or exit. Any amount in excess of $10,00