Peru is a land of ancient traditions and sacred paths. Before you embark on your adventure through these vibrant lands, understanding currency exchange in Peru is essential to ensure a smooth and stress-free trip.
The Peruvian Currency: The Nuevo Sol
The Peruvian sol (PEN) is the official currency of the country, a name that evokes the sun, the supreme deity of the ancient Incas. Each bill and coin carries a piece of Peru’s identity, representing national heroes, biodiversity, and cultural symbols that tell stories of the nation’s past.
Banknotes come in denominations of 10, 20, 50, 100, and 200 soles, while coins circulate in 1, 2, and 5 soles, along with 10, 20, and 50 céntimos.
Collectible Coins: Small Treasures of the Past and Present
Since 2010, the Central Reserve Bank of Peru has released collectible one-sol coins that celebrate the country’s historical and cultural richness. These series include:
- Wealth and Pride of Peru Series: 26 coins
- Natural Resources Series: 3 coins
- Endangered Wildlife of Peru Series: 10 coins
- Bicentennial Builders of the Republic (1821–2021): 3 coins, with more to come
- Women in the Independence Process Series: 3 coins
These coins circulate normally but are often kept by collectors and travelers as meaningful souvenirs from their journey through Peru.
Dollars and Soles: How Money Flows in Peru
The US dollar is widely accepted in tourist destinations like Cusco, Lima, and Arequipa. However, it’s always best to carry local currency for daily transactions. Some businesses may accept dollars but often at an unfavorable rate, so exchanging your money beforehand ensures a better deal.
Where to Exchange Money Safely in Peru
When managing your money abroad, caution is key. To avoid scams or poor exchange rates, consider these reliable options:
1. Certified Exchange Houses
Exchange houses offer a good balance between security and fair rates. In cities like Lima and Cusco, you’ll find them in shopping centers and tourist areas. Always verify that the establishment is authorized.
2. Banks
Though banks provide the highest level of security, their rates are often less favorable, and queues can be long. Some of the most reputable banks include:
- Banco de Crédito del Perú (BCP)
- Interbank
- BBVA Perú
- Scotiabank
3. ATMs
ATMs are widely available in major cities and airports. You can withdraw both soles and dollars, though fees vary by bank. Check with your home bank about international withdrawal costs before your trip.
4. Street Money Changers
In Lima and Cusco, you’ll often see street money changers wearing official vests. While their rates may seem attractive, counterfeit bills and scams are real risks. Exchange only during daylight hours and with reputable individuals.
Smart Tips for Exchanging Money in Peru
- Avoid exchanging money at airports or hotels – rates are typically less favorable.
- Check every bill carefully – feel the texture and look for watermarks to avoid counterfeit notes.
- Carry small denominations – markets and taxis often struggle to break large bills.
- Compare exchange rates – use apps or check multiple locations before exchanging large amounts.
- Distribute your money safely – keep cash in different places to minimize theft risks.
Safe Money, Meaningful Travels
When you exchange currency in Peru, you are not just handling money, you are connecting with the country’s living culture. Each sol spent at a local market or community-based project contributes to ayni, the Quechua principle of reciprocity that still guides Andean life today.
So, as you explore the Sacred Valley or stand before the majesty of Machu Picchu, let your money flow with respect and intention. Every sol tells a story, and every purchase supports Peru’s vibrant communities.
Travel smart, exchange wisely, and let the spirit of Peru guide your journey.
Karen Pamela Riveros Rojas
