Peru holiday money adviceAn Inca Trail holiday is a three to five day hike through 45 kilometres of towering mountains which boast some of the most stunning scenery you'll see during your travel through Peru and South America. Pictured below to the left is a typical view halfway up the Inca Trail and to the right is the first sight you'll see of Machu Picchu as you enter the final hour of your journey down from Intipunku, the Gateway of the Sun which is located high above the ruins of this ancient city. You'll need to figure out how to deal with the local Peruvian currency when you travel in Peru, and this page provides some money tips for your holiday. |
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Peru money tips
Peru's currency is called the nuevo sol and there are usually three or four of these to the American dollar, dependent upon currency fluctuations. In September 2011, one American dollars was buying about 2.7 nuevo sols. The Nuevo Sol comes in coins of 10, 20 and 50 centimos, coins of 1, 2 and 5 Nuevos Soles, and bills of 10, 20, 50, 100 and 200 Nuevos Soles. Peru travel tip ... It's wise to exchange American dollars in the smallest notes you can get and horde as many small notes and coins as possible throughout your holiday travel in Peru. Change is often scarce and it's cheaper to provide small notes to the many people who expect a tip in Peru. Beware that it's difficult to exchange currency other than euros and US dollars in Lima, and it's often impossible to exchange any other sort of foreign currency when you travel outside Lima. Peru travel money advice Make sure the American dollars you carry with you don't have rips or other damage, and hide/guard your money closely. The easiest way to finance your Peru holiday travel is to use your credit card in one of the ATMs which are plentiful in most cities and towns. More and more ATMs are being installed throughout Peru. The most widely accepted credit card in Peru is Visa. Peru travel tip ... Credit cards are particularly efficient if you have a direct-debit from your home account rather than a credit arrangement and you should avoid going to banks in Peru if possible because the queues are endless. Credit cards, particularly Visa, are accepted at major restaurants and hotels in large cities, and can be used in an increasing number of ATMs in Peru to withdraw local currency. However, your plastic is unlikely to get you far in small villages, cheap hotels and restaurants, or on buses and trains. If you take travellers cheques to Peru, make sure they're in US dollars and expect some delays outside Lima. Travellers cheques have a lower exchange rate but are the safest way to carry money. American Express is the most widely accepted. It's sensible to write down the cheque numbers and keep the original bill of sale in a safe place. In some remote areas you'll need to take American dollars but make sure the notes are in excellent condition as many cambios in Peru won't exchange bills if they have even a small rip. Many cambios remain open till late at night. Peru holiday money advice Fairly good exchange rates can be negotiated on the streets of Peru with money-changers, better known as cambistas. However, you should bargain hard and inform yourself about the current rate to ensure you don't get ripped off. Cambistas will vary their offered exchange rates dependent on the amount you're willing to change and whether they think you look like a sucker. Cambistas can be found just about everywhere there are tourists in Peru and when dealing with them on the street, always keep an eye on your surroundings. Cambistas officially registered with the local municipality wear color coded vests and each district has a different color. The vests have a "$" sign / EURO on the back and the cambistas have proper identification documents. Don’t allow anybody to disturb your transaction, don’t get distracted and always check for counterfeit money, both notes and coins. Count the money carefully to ensure the cambista hasn't tried to trick you. Peru travel crime, theft, warnings and safety tips has up-to-date advice on how to avoid tourist crime in Peru.
Street vendors can either provide a better currency exchange rate or be dangerous, and it's safer to avoid them during your South America holiday travel. The value of the nuevo sol can vary appreciably from day to day. Banks are mostly open from 9am to 5pm, although it can vary in different parts of Peru. Banks in Peru are usually open on Saturdays till 1pm. Be aware that there are often long queues, particularly on Fridays, and many banks are inefficient compared to their western counterparts with inordinate paperwork required for simple transactions. A tip isn't required for taxis in Peru but it's customary to leave an extra 10% at bars and restaurants and for travel guides. Most taxis don't have meters and you should negotiate a fare to your intended destination before getting into the cab. Yellow taxis are the safest and Peru taxi fares are cheap by western standards - unless you're being ripped off. Hiking the Inca Trail to Machu Picchu Peru weather for holiday travel To book airline tickets, hotels, car rentals and cheap holidays in Peru, visit our Travel Shop. |
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