They offer current rates of exchange, but count your money carefully (you can simplify this by exchanging easily calculable amounts, such as $10 or $100), and make sure you have not received any counterfeit bills.Ĭounterfeit bank notes and even coins are common, and merchants and consumers across Peru vigorously check the authenticity of money before accepting payment or change. Money-changers, often wearing colored smocks with “$” insignias, can still be found on the street in many cities. If you can’t avoid banks, all cities and towns have branches of major international and local banks see “Fast Facts” in individual destination guides for locations. Check with your bank before departing to avoid any surprise charges on your statement.īanks are no longer the place of choice in Peru for exchanging money: Lines are too long, the task is too time-consuming, and rates are often lower at casas de cambio (exchange houses) or by using credit or debit-card ATMs or money-changers, which are legal in Peru. Fees can amount to 3% or more of the purchase price. But many banks have responded by increasing fees in other areas, including fees for customers who use credit and debit cards while out of the country-even if those charges were made in U.S. Recent reform legislation in the U.S., for example, has curbed some exploitative lending practices. Check with your card issuer to see what fees, if any, will be charged for overseas transactions. ![]() Travelers should beware of hidden credit- or debit-card fees. At some ATMs, your personal identification number (PIN) must contain four digits. Visa and MasterCard ATM cards are the most widely accepted Visa/PLUS is the most common.īe sure you know your personal identification number (PIN) and daily withdrawal limit before you depart. Most ATMs in Peru accept only one type of credit/debit card and international money network, either Cirrus ( tel. Some bank ATMs dispense money only to those who hold accounts there. Screen instructions are in English as well as Spanish. ATMs allow customers to withdraw money in either Peruvian soles or U.S. dollars receive very poor exchange rates.Īutomated teller machines ( ATMs) are the best way of getting cash in Peru they’re found in most towns and cities, although not on every street corner. dollars are by far the easiest foreign currency to exchange. If you pay in dollars, you will likely receive change in soles, so be aware of the correct exchange rate. Make sure that you have cash (both soles and U.S. ![]() In villages and small towns, it could be impossible to cash traveler’s checks or use credit cards. In addition, prices can rise in the high season, such as the Independence Day holidays (late July), Easter week (Mar or Apr), or Christmas, due to heavy demand, especially for hotel rooms and bus and plane tickets. In the bigger cities, prices for virtually everything-but especially hotels and restaurants-are higher, particularly in Lima. Peruvians tend to haggle over prices and accept and even expect that others will (politely) haggle, except of course in major stores and restaurants. To those with strong currencies, Peru (outside of top-end restaurants and hotels) is likely to seem comparatively cheap. On the whole, although prices have risen in the past few years and Peru is slightly more expensive than its Andean neighbors Ecuador and Bolivia (but less expensive now than Chile and parts of Brazil), Peru remains relatively inexpensive by North American and European standards. Rates fluctuate, so before departing, consult a website such as to check up-to-the-minute rates. The Value of the Peruvian Nuevo Sol (S/) vs.
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