Hello, dear reader! This guide will answer all your questions so you can travel stress-free and make the most of your adventure. How does currency work in Peru? Should you bring cash or rely on credit cards? What’s the best way to exchange money? Continue reading to learn more!

What is the Currency in Peru?

The official currency of Peru is the Peruvian Sol (PEN). The symbol for the sol is S/, and you’ll often see prices written like S/10.00. The sol is divided into 100 céntimos (like cents in the US dollar or pennies in the British pound).

What Do Peruvian Bills and Coins Look Like?

Peruvian banknotes come in denominations of S/10, S/20, S/50, S/100, and S/200. The newer versions of these bills feature important figures from Peruvian history and beautiful designs representing Peru’s culture and nature.
Peruvian coins are available in denominations of S/1, S/2, S/5, and smaller céntimos coins of 5, 10, 20, and 50 céntimos. The céntimos coins are rarely used, except in supermarkets or small purchases.

Can I Use US Dollars in Peru?

Yes, but with some limitations. While US dollars are widely accepted in tourist areas, restaurants, and hotels, it's always a good idea to have some soles on hand. Most local businesses, markets, and transportation services only accept soles. Also, when paying in dollars, the exchange rate might not be in your favor.

What’s the Best Way to Exchange Money in Peru?

1. ATMs: One of the easiest and safest ways to get Peruvian soles is by withdrawing from ATMs, which are widely available in major cities. However, be mindful of withdrawal fees.
2. Currency Exchange Houses (Casas de Cambio): These offer better rates than banks and are a good option for exchanging cash.
3. Banks: You can exchange money at banks, but the process is slower, and the rates might not be the best.

Are Counterfeit Bills a Problem in Peru?

Unfortunately, yes. Fake bills are a known issue, especially with larger denominations. To avoid this you should check for security features like watermarks, color-changing ink, and raised textures, avoid accepting old, damaged, or suspicious-looking bills and coins. We recommend you use ATMs, banks, or official exchange houses instead of the people in the street that don't give you any guarantee.

To learn how to identify real peruvian soles from fake soles, we share an official video from the BCRP (Central Bank of Peru) with you. Click here!

Can I Use Credit or Debit Cards in Peru?

Yes, but not everywhere. In big cities like Lima, Arequipa and tourist hubs, most hotels, restaurants, and shops accept Visa and Mastercard. However, in rural areas and small businesses, cash is king. Always carry some soles for taxis, markets, and local shops.

What’s the Tipping Culture in Peru?

Tipping is not obligatory but is appreciated in many places. 

Here’s a general guide:

• Restaurants: 10% in mid-range and high-end restaurants if a service charge isn’t already included.
• Tour Guides: Tipping is common—around S/20-50 for a full-day tour, depending on the experience.
• Taxis: No tipping, but rounding up the fare (regatear) is common.

Is It Expensive to Travel in Peru?

Peru can be budget-friendly or luxurious, depending on your travel style. Local street food, public transport, and markets are very affordable, while high-end restaurants, luxury hotels, and premium tours can be more expensive. Having a mix of soles and dollars will help you navigate costs efficiently.

Final Tips for Handling Money in Peru

• Always carry some small bills and coins—many places won’t accept large denominations like S/100 or S/200.
• Avoid carrying too much cash at once for security reasons. Carry your money in pockets with zipper or a funny pack.
• Check exchange rates before exchanging money to avoid bad deals.
• Keep a mix of payment methods (cash, card, and a backup in USD).

By understanding how money works in Peru, you can avoid unnecessary stress and enjoy your travels with confidence. Safe travels and enjoy everything Peru has to offer! If you are interested in traveling to Peru, don’t hesitate to contact us!