Currency and exchanging money in Peru
Currency and exchanging money in Peru Reviews
Exchanging money in Peru Aug 01, 2009
Peruvian Currency is the Nuevo Sol (New Sun! - funny name)
Of course you can exchange any currency at a bank, but the 2 most accepted are the US$ and the Euros.
Right now, the Euros are more welcomed than the US$ because they are stronger.
I would recommend not to exchange the money at the airport, unless it's just a bit, because the rate there is not the best. But the banks are not the only place where you can exchange money. There are also street exchangers "cambistas". Don't be surprised if you see a lot of them wearing colorful clothes, holding calculators and saying: "cambio, cambio". They will pay you more than a bank, but have to be careful with them. Usually the ones you can trust wear a sort of uniform, which has been given by the city hall. If you decide to exchange money with them, don't exchange much, you don't know if somebody is watching it. If you decide to bring US$, you have to know we had a problem with fake US$100,- bills some time ago. Therefore people won't take them easily anymore. It'd be better having smaller bills. I mean with less value.
Anyway, in Lima you can pay with US$ almost everywhere, even in a gas station. I'll suggest doing it so, because the stores will give you a better rate and also will always give you the change in soles and not fake money. I'm sure it's almost the same in Cusco, but I'm not sure about the other cities in Peru.
Just to have an idea the current exchange rate is:
US$ 1.- = S/.3
Eur 1.- = S/.4.37
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