If you want to travel to Peru, it's important to understand how to manage money, as the official currency is the Peruvian sol. Here, we explain everything you need to know about currency exchange, the use of banknotes, coins, and digital payments so you can enjoy your trip without any problems.
The official currency of Peru is the sol (PEN), introduced in 1991, and it is used throughout the country, from major cities to rural areas. The sol is available in both banknotes and coins of various denominations. Its exchange rate against the dollar tends to be more stable, although it's advisable to stay alert to fluctuations.
The Peruvian currency circulates in various denominations, both in banknotes and coins, which facilitates daily transactions.
The Peruvian banknotes feature advanced security measures, designed to be easily recognized and hard to counterfeit. Currently, there are five main denominations:
These banknotes are made from durable materials and include security features such as watermarks, raised prints, and special inks, reducing the risk of counterfeiting.
As for coins, denominations range from cents to whole soles. Currently, the following coins are in circulation:
Regarding the designs, Peruvian coins feature images of native fauna and flora, and they are easy to handle both in terms of size and design, which facilitates use in local markets, public transportation, and other everyday situations.
Peru issues commemorative coins to highlight significant events and cultural symbols, such as the "Wealth and Pride of Peru" series, which includes images of Machu Picchu and the Temple of the Sun. These coins are not only used as a means of payment but are also valuable to collectors and make for a great souvenir from the country.
To manage the Peruvian sol effectively in your daily life, it's important to be prepared for temperature fluctuations, especially due to the high altitudes in many regions of the country.
To manage the Peruvian sol in your daily life, it's important to be prepared for fluctuations. Always make sure to carry some cash in soles, as not all places accept credit cards. It's advisable to exchange your bills at official exchange houses or banks to get more favorable rates.
In Peru, damaged banknotes or coins can be rejected at various establishments. It's important to check the condition of your banknotes and coins before accepting them as change to avoid receiving money in poor condition. If you receive damaged bills, you can exchange them at the Central Reserve Bank of Peru.
Although the risk of receiving counterfeit money is low when you make transactions in safe places, it's always recommended to check the banknotes when you receive them. Look for watermarks, raised prints, and color-changing numbers when tilting the bill.
Currency exchange houses and banks are the safest places to exchange money in Peru. Exchange rates are usually better at currency exchange houses, but always check the rates before completing the transaction. At airports, the rates are often less favorable.
The use of credit and debit cards is very common in Peru, especially in larger cities. VISA and MASTERCARD are the most accepted cards, though digital transfers are gaining popularity with services like Yape and Plin, which allow easy payments. Recently, transactions can also be made via ATMs.
Tipping is not mandatory, but it is appreciated as a sign of gratitude for good service. In restaurants, it is common to leave between 5% and 10% of the total bill, although it depends on each individual.
The US dollar is widely accepted in places such as hotels, travel agencies, and some tourist areas. However, it is preferable to pay in soles to avoid unfavorable conversions. Be sure to carry dollars in good condition to ensure they are accepted by establishments.
The budget you need for a trip to Peru will depend on your travel style. Here is an estimated guide:
