What is the currency of Peru?
The official currency of Peru is the Peruvian sol (S/), often simply called "sol". It is the currency used throughout the country, both in large cities and in more rural areas. Prices for hotels, restaurants, transportation, tours, and tourist sites are generally displayed in soles.
Some tour agencies, upscale hotels, or service providers may also list their rates in US dollars, but payment in local currency remains the most common for travelers.
Cash or credit card payment?
In large cities like Lima, Cusco, or Arequipa, international credit cards are widely accepted in many hotels, restaurants, shopping malls, and tour agencies. However, it is still advisable to always have some cash for small shops, markets, taxis, or more remote destinations.
When traveling in Peru, the most practical combination is generally to use credit cards for major expenses and cash for everyday purchases.
Where to exchange euros or dollars?
It is possible to exchange euros or dollars at banks, exchange offices, and some private currency exchange houses in the main tourist cities of Peru. Rates can vary from one establishment to another, so it is often useful to compare several options before making a significant transaction.
Avoid exchanging large amounts of money at Lima airport upon your arrival. Even if the exchange offices display "no commission", the exchange rate offered is actually extremely low, which will cause you to lose a lot of money.
Our recommendation: only exchange a small amount for your initial needs.
If you only need to pay for a meal: approximately 50 euros for two people may be enough.
If you need to pay for the transfer to the hotel + the hotel night + a meal: in this case, it is better to exchange about 150 euros to cover all these initial expenses.
You can exchange the rest of your budget later in the city, where the rates are much more advantageous.
In large cities like Lima, Cusco, or Arequipa, it is common to come across independent money changers on busy shopping streets and main thoroughfares. Easily recognizable by their vests ("chaleco") and signs displaying exchange rates, they often offer competitive rates.
As a precaution, prepare the amount you wish to exchange in advance and avoid handling or exposing large amounts of banknotes in public.
Regardless of the exchange method chosen, always take the time to check the amount given and the condition of the banknotes before leaving the premises.
Automated teller machines (ATMs)
ATMs are easy to find in large cities, shopping centers, airports, and most tourist destinations. They generally allow withdrawals in soles and sometimes US dollars depending on the establishment.
Before your departure, remember to check the fees charged by your bank as well as any commissions applied to international withdrawals to avoid unpleasant surprises.
Tips to avoid counterfeit money and scams in Peru
As in many countries, a few simple precautions can help you avoid counterfeit money and scam attempts. Here are the right reflexes to adopt on a daily basis.
Even a small tear can cause many merchants, taxis, or markets to refuse a bill. Before leaving an ATM or a store, quickly check the condition of the notes and ask to replace any damaged bill.
When you pay for a purchase, always keep an eye on your banknote. Some dishonest individuals may discreetly replace it with a counterfeit and then return it to you, claiming it is fake. Effective tip: for large bills, memorize the last 2 or 3 digits (and possibly the letter) of your banknote before handing it over. That way, if someone tries to substitute it, you will be able to recognize it immediately.
In summary: check the condition of banknotes, watch your payments, and mentally note the last digits of large bills. These small habits will save you a lot of trouble.