If you’re considering traveling to Peru or are just curious about how money works in Peru, you’re in the right place. Understanding the money and currency in Peru is essential. Knowing how Peruvian currency works can make your experience in Peru much easier, whether you’re buying something at a local store or exchanging money for your Peru adventures. In this article, we’re going to tell you everything you need to know about the local currency in Peru. We’ll also give you some practical tips on currency exchange. Read on and find out all the details about money and currency in Peru.
What is the Currency in Peru?
The currency of Peru is called the Sol (PEN). It’s the official money used for all transactions in the country. When visiting Peru, you’ll need to exchange your home currency for Peru money to buy souvinirs, pay for tours.
Currency for Peru: What you need to know
Many travelers ask: “What is money called in Peru?”. The answer is simple: the Sol, although officially Peru’s currency is the Sol, you may also hear Peruvians referring to “SOLES” (plural of sol), so don’t be surprised if they refer to money this way. One sol is divided into 100 céntimos.
Peru South America Currency: Is It Accepted Everywhere?
Since Peru is located in South America, you may travel to nearby countries. It is important to note that, while other South American countries have their own currencies (such as the Brazilian real or the peso argentino), the Peruvian currency may also be accepted there, however it is preferable to pay with the local currency depending on the country you are visiting, as the Peruvian currency is not well accepted by all countries in South America.
How much cash to take to Peru?
One of the most frequently asked questions travelers ask when visiting Peru is: “How much cash to bring to Peru?”. The answer depends on how you plan to spend your time in Peru. If you are staying in big cities like Lima or Cusco, you can easily use credit or debit cards. But it is a good idea to have some cash on hand, especially if you are visiting remote areas or towns where card payments may not be accepted. Also, if you are planning to visit Cusco and the Sacred Valley, the tourist ticket which allows you to visit many attractions in and out of the city can only be purchased in cash and in Peruvian currency.
Money Exchange in Perú:
Money exchange in Peru is a fairly straightforward process. You can exchange your currency at banks, exchange houses or even at some stores. However, always check Peru’s exchange rate before making any transactions, as rates can vary depending on where you exchange your money. It is usually best to compare exchange rates in several places to get the best deal. Be sure to check your bills when you receive them. It is highly advisable to exchange your money at authorized agents and avoid exchanging them on the street.
Tip: The exchange rate fluctuates daily, so it is important to keep up to date on the current exchange rate to ensure you get a fair deal, make sure to check exchange rate information online.
Can You Use US Dollars in Peru
American dollars are widely accepted in the country. Although the official currency of Peru is the Sol, some places in the more touristy areas accept U.S. dollars. However, it is best to always use Peruvian money (Sol) for everyday transactions to avoid unfavorable exchange rates. If you plan to visit to Peru, it is advisable to change your dollars to avoid confusion or overpaying.
Where are US Dollars Accepted in Peru?
Tourist Areas: In popular cities such as Lima, Cusco, Puno and Arequipa many stores, hotels, travel agencies and restaurants accept US dollars. This is especially true in places near tourist sites such as the Plaza de Armas in each city mentioned, where merchants are accustomed to dealing with international tourists. Prices in Dollars: In some cases, prices in stores, hotels or restaurants may be quoted in dollars instead of soles. However, the exchange rate will always be used to convert to the local currency at the time of payment.
Where and how do I draw cash?
You have three options for obtaining cash once in Peru:
ATMs (Use it only for emergencies).
Banks (The exchange rate is lower).
Exchange houses (Recommended).
Money changers (Not recommended).
Is it Safe to Carry Cash in Peru?
Traveling to Peru makes you aware of certain risks, as tourists can be an easy target for thieves. Therefore, it is important to take precautions with your money and valuables. First, do not show large amounts of cash in public and avoid taking out your wallet or making large payments in crowded areas. Although Peru is safe in general, some tourist areas may be more risky. It is advisable to be discreet and take precautions to keep your money and personal belongings safe during your trip.
Conclusions:
In summary, understanding local money and currency in Peru is key to a safe and smooth trip in Peru. Peru’s official currency is the Sol, and the currency exchange system in Peru is easy to manage with a little preparation. Be sure to regularly check Peru’s exchange rate and carry cash and a card for convenience. With this information, you will be well equipped to manage your finances and enjoy your stay in this beautiful country.
