![]() Often, the best exchange is at a casa de cambio compare the rates at different locations to seek the best rates. There are four ways to change dollars: in hotels, at banks, exchange houses (casas de cambio), and at independent street money changers. Money Exchange Where can I exchange my money?Ĭarrying cash entitles you to get the top exchange rates quickly. 1.00ĭenominations of the Peruvian Sol that can be found are: Coins The Peruvian Sol currency is divided into 100 cents with an equivalence of: I /. A Nuevo Sol was equivalent, at the time of change in 1991, to a million Intis or billion of old soles. This coin replaced the Inti, driven by Alberto Fujimori because of the devaluation. The Nuevo Sol, now called the Peruvian Sol, is the country’s monetary unit which took effect on July, 1991 in accordance with the provisions of Law No. Of course, in Lima, you’re gonna probably spend at least $800 a month, especially in the more popular districts, such as Miraflores or Barranco.The currency in Peru is the Peruvian Sol. Unfurnished apartments can be found for much less. Long-term furnished rentals start at around $500 a month in places like Arequipa, Cusco, and Trujillo. ![]() And that’ll get you a soup or salad and a small dessert as well.Ī couple can dine out at a decent restaurant for $25 or $30, even with wine or beer. Most people leave a little change, but 5% or 10% would be the maximum tip that many people would leave.Ī meal of the day for two with non-alcoholic drinks can be as little as $5. And in general, it’s a non-tipping economy, except for higher-end restaurants. And that’s a big temptation for a petty thief that sees some tourists walking around flashing either one of these items carelessly. So an iPad or a cell phone is equal to three or four month’s wages for many people. When you realize that the minimum wage here is only about $300 a month, it puts things in perspective. But it’s an inexpensive country, so you don’t need to carry around a lot of money at any given time. So basically they’re asking you cash or credit when they ask you that question. But that’s not going to be very common for most people, for most expats.Įfectivo is cash. The factura is a business receipt that you would obtain if you have a tax number in the country or own a business. That is what you’re probably going to want. The other thing you’re gonna run across in Peru is the questions, “ Boleta o factura?” and, “ Efectivo o tarjeta?” Every time you purchase anything, you’re going to be asked these questions. So don’t be surprised if this happens when you go shopping. If you hand over a 100 soles bill for a 5 sol item, the shopkeeper probably won’t have enough change, and he’ll go running out the door looking for change from one of his buddies. Although the top credit cards are widely accepted in the larger outlets, most shops operate on a cash-only basis, and nobody ever has very much change. If you have a Scotiabank account in Canada or the U.S., you can probably withdraw cash from Peru’s Scotiabank ATMs without paying any fee at this end.īut remember, Peru’s a cash economy. So if you’re just here on holiday for a week or two, using the ATM is not that expensive. I can use the machine at least two times a day, if not three, and each transaction costs about $4. Your bank determines how much you can take out on a daily basis. They’re all over the country, and with a little groundwork, you’ll find ATMs, BCP being one of them, which allow you to withdraw up to a 700 soles, which is about $212. It’s better not to carry around large amounts of cash and you can visit the ATMs as necessary. ![]() If you really need to have cash on a regular basis while you’re traveling, the best bet is probably the big money exchange businesses if you want to exchange a lot of cash at one time. And you also risk the chance of petty theft right after you’ve had the exchange or conducted your exchange as you go walking down the street with your pockets full of money. It’s not unusual to obtain counterfeit money from these guys. Most street money changers are pretty good, but, again, it’s difficult to separate the shady ones from the honest ones. Banks often have very long lines, so it’s not the best idea, because it could take you a long time just to exchange a few dollars or a few soles. The three most common places would be banks, the street money changers and, of course, the large business money exchanges. ![]()
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