In Peru, the official currency is the Peruvian Sol. The Sol is the national currency of Peru and is abbreviated as PEN. It is named after the ancient Peruvian currency, the Sol de Oro, which was in circulation from the 19th century until the introduction of the current currency in 1991. The Peruvian Sol is used for all transactions in the country, from daily purchases to major investments.
What are the denominations of the Peruvian Sol?
The Peruvian Sol is available in banknotes of 10, 20, 50, 100, and 200 Soles, and coins of 1, 2, and 5 Soles, as well as in lower denominations such as 5, 10, 20, and 50 centimos.
What is the exchange rate of the Peruvian Sol?
The exchange rate of the Peruvian Sol can vary, but as of 2021, it is approximately 3.8 Soles to 1 US Dollar.
Can I use US Dollars in Peru?
While the Peruvian Sol is the official currency, US Dollars are widely accepted in tourist areas and major cities. However, it is recommended to have some Peruvian Soles on hand for smaller purchases and in more rural areas.
Where can I exchange money in Peru?
Money can be exchanged at banks, exchange offices, and hotels in Peru. It is important to compare exchange rates and fees before making a transaction to ensure the best deal.
Are credit cards widely accepted in Peru?
Credit cards are accepted in most major hotels, restaurants, and shops in Peru, especially in tourist areas. Visa and MasterCard are the most commonly accepted cards, while American Express and Discover may not be as widely used.
Are there ATMs in Peru?
ATMs are widely available in Peru, especially in major cities and tourist areas. Most ATMs accept international cards, but it is important to check with your bank regarding any fees or restrictions.
What are some common expenses in Peru?
Common expenses in Peru include transportation, food, accommodations, and entrance fees to attractions. Prices can vary depending on the region and level of luxury.
Is it customary to tip in Peru?
Tipping is not mandatory in Peru, but it is appreciated for good service. A 10-15% tip is customary in restaurants, while taxi drivers and hotel staff may also expect a tip.
Can I haggle prices in Peru?
Haggling is common in markets and street vendors in Peru, especially for souvenirs and handicrafts. It is important to be respectful and negotiate fair prices.
What are some safety tips for handling money in Peru?
It is advisable to carry small denominations of Soles for daily transactions and to secure larger amounts of cash in a money belt or hidden pocket. Avoid displaying large sums of money in public.
Are there any restrictions on bringing money in and out of Peru?
There are no restrictions on bringing in or taking out local or foreign currency in Peru. However, amounts exceeding $10,000 USD or its equivalent must be declared to customs authorities.
What are some popular souvenirs to buy in Peru?
Popular souvenirs to buy in Peru include alpaca wool products, pottery, silver jewelry, textiles, and Peruvian handicrafts. These items can be found in markets and shops throughout the country.