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If you are planning to travel to Peru or simply want to know more about its daily economy, it is essential that you understand how its monetary system works. Below, we tell you everything you need to know about the Peruvian Sol, how to recognize authentic banknotes and coins, and where to safely exchange your currency.
What is the Official Currency of Peru?
The official currency of Peru is the Sol (S/.), divided into 10 céntimos. This is the most widely used unit of exchange throughout the country, in both urban and rural areas.
Coins in circulation:
- 10 céntimos
- 20 céntimos
- 50 céntimos
- 1 Sol
- 2 Soles
- 5 Soles
Banknotes in circulation:
- S/ 10
- S/ 20
- S/ 50
- S/ 100
- S/ 200
Useful tip: All banknotes and coins have security features such as watermarks, security threads, and raised printing. It is important to be vigilant, as counterfeit banknotes and coins also circulate. If in doubt, compare with a reliable one or go to a bank.
Is the Dollar Accepted in Peru?
Yes, the U.S. dollar is widely accepted in many parts of the country, especially in tourist areas, large businesses, hotels, and airports. However, not all places handle exact change, so it is advisable to always have some soles on hand.
Where to Exchange Money in Peru?
If you are carrying dollars or other foreign currency, there are several ways to exchange them for soles:
1. Banks
- They are safe, but usually offer less favorable exchange rates.
- Limited hours (Monday to Friday, and some hours on Saturdays).
2. Hotels
- Convenient if you are staying there, but their exchange rates are generally lower.
3. Legal Exchange Houses (Casas de Cambio)
- Recommended for security and good rates.
- They are located in commercial areas or near main banks.
4. Street Money Changers (Cambistas)
- They offer good rates, but are not always safe.
- If you decide to exchange with them, make sure they are identified and work in supervised areas (like in front of banks).
Key tip: Always check the banknote or coin you receive. And if you are unsure, ask your guide or travel agency for advice.
