Currency in Peru
The complete Peruvian Sol (PEN) travel guide
The Peruvian Sol (PEN, symbol S/) is the official currency of Peru, introduced in 1991 to replace the hyperinflation-era Inti. Issued by the Banco Central de Reserva del Perú (BCRP), banknotes come in S/10, S/20, S/50, S/100, and S/200 denominations; coins in 10, 20, 50 céntimos and S/1, S/2, S/5. Peru is South America's most-visited Andean country (Machu Picchu, Cusco, the Sacred Valley, Lima's gastronomy scene), receiving 4+ million international tourists annually. PEN has been notably more stable than its Latin American peers — averaging only 2-3% annual depreciation against USD over the past decade thanks to BCRP's inflation-targeting credibility.
Cash, cards, and ATMs in Peru
Peru is increasingly card-friendly in Lima, Cusco, and major tourist destinations. Visa and Mastercard work at chain hotels, malls (Jockey Plaza, MegaPlaza), chain restaurants, and supermarkets (Wong, Tottus, Plaza Vea). Amex acceptance is moderate. ATMs at BBVA, BCP (Banco de Crédito del Perú), Interbank, and Scotiabank accept foreign cards with per-transaction limits of S/400-700 (~$105-185) and fees of S/12-20 per withdrawal. Cash remains essential at Cusco markets, mototaxis, small restaurants, and tipping. Yape and Plin dominate Peruvian mobile money but require local IDs. USD is widely accepted in Cusco and Lima tourist areas — Peruvians often hold USD savings as inflation hedge.
Tipping culture in Peru
Tipping in Peru is appreciated but modest. Restaurants: 10% is standard at sit-down restaurants where service charge isn't already included (a 10% service charge is added at upscale Lima restaurants — both included in displayed totals). Taxis: round up to nearest S/1-5; Uber/Cabify drivers can be tipped in-app. Hotels: S/3-5 per bag for porters; S/3-5 per night for housekeeping. Tour guides at Machu Picchu/Sacred Valley tours: S/30-50 per person per day for private tours. Porters at Inca Trail trek: $5-10 USD per porter per day (group tip pool). Drivers (full-day hires): S/30-50 per day. Tips in PEN are preferred over USD.
Best way to get Peruvian Sol (PEN)
For USD-to-PEN, multi-currency cards (Wise, Revolut) deliver rates within 0.5-1% of mid-market. Authorized casas de cambio in central Lima (Miraflores, San Isidro) and Cusco (around Plaza de Armas) offer competitive in-person rates — comparison-shop across 2-3 booths. Avoid Lima (LIM) Jorge Chávez airport currency exchange counters — spreads of 4-7% above mid-market are common. For substantial transfers, Wise consistently beats traditional bank wires (BCP, BBVA) by 1-3% on total delivered amount. Peru has minimal capital controls — outbound transfers are largely unrestricted. The Sol's relative stability means PEN-vs-USD timing matters less than for COP or ARS.
Practical money tips for Peru
- •Use Uber, InDriver, or Cabify in Lima — significantly cheaper and safer than street taxis or mototaxis
- •Carry small denominations (S/1, S/2, S/5, S/10) — many small shops and mototaxis can't change S/100 notes
- •IGV (Peruvian VAT, 18%) is included in displayed prices; foreign tourists can claim VAT refund on hotel stays over 60 days (limited use)
- •Peru plug types A, B, C (Type A/B same as US); voltage 220V/60Hz — frequency matches US (60Hz) but voltage is European (220V)
- •Get a SIM card on arrival (Claro, Movistar, Entel, Bitel) — 7-30 day plans available for S/20-100
- •Cusco altitude is 3,400m — drink coca tea, avoid heavy exertion on arrival day, consider acetazolamide (Diamox) if altitude-sensitive
- •Machu Picchu tickets must be purchased in advance — daily quotas, separate tickets for circuits, often sold out 1-2 months ahead for peak season
Common money scams to avoid in Peru
Common tourist money scams in Peru include: rigged taxi meters from LIM airport (use only authorized airport taxis or Uber); aggressive Plaza de Armas (Cusco) "tour guide" approaches that turn into commission-shopping stops at silver/alpaca-wool shops; counterfeit S/100 and S/200 notes given as change at unauthorized money changers (use only authorized casas de cambio); "tour package" overcharging from hotel concierges (book Machu Picchu and Sacred Valley tours through verified operators like Llama Path, Alpaca Expeditions, or Wayki Trek); and aggressive woolen-goods sellers at Pisac Market and Ollantaytambo. Cusco has had reports of "strangulation muggings" in less-touristy neighborhoods at night — stick to well-lit main areas.
Frequently asked questions
Can I use US dollars in Peru?
Yes, USD is widely accepted in Cusco, Lima, and major tourist destinations — particularly at hotels, restaurants, and Machu Picchu tour operators. Peruvians often hold USD savings (called "dollarization") and accept USD as alternative payment. Rates at tourist businesses are usually reasonable (within 1-2% of mid-market) but always confirm. For everyday spending outside tourist zones, PEN is required.
How much cash should I bring to Peru?
Plan on S/30-80 ($8-21) per day in cash for street food, mototaxis, market purchases, tips, and small businesses. With cards accepted at hotels and chain restaurants, your card spend covers the rest. Peruvian ATMs cap foreign-card withdrawals at S/400-700 per transaction.
Why is the Peruvian Sol more stable than other Latin American currencies?
BCRP (Peru's central bank) has built strong inflation-targeting credibility since the regime began in 2002. Inflation has averaged 2-3% annually for most of the past two decades — among the lowest in Latin America. Combined with stable fiscal policy and substantial foreign reserves ($75B+), PEN has avoided the dramatic devaluations that have hit ARS, BRL, and COP. PEN depreciates only 2-3% annually against USD on average versus 4-6% for COP and 15-20%+ for ARS.
What's the cheapest way to send money to Peru?
For USD-to-PEN, Wise consistently offers the lowest total cost (typically 0.5-1% margin). Remitly competes closely for amounts under $1,000. Western Union has wider spreads (2-4%) but offers instant cash pickup at thousands of Peruvian agent locations (BCP, BBVA, Interbank, Western Union branches). For larger amounts to Peruvian bank accounts, Wise to BCP or Interbank consistently wins.
Is Peru safe for tourists?
Generally yes in major tourist destinations (Cusco, Sacred Valley, Machu Picchu, Lima Miraflores/San Isidro/Barranco, Arequipa) with standard precautions. Lima has urban-poverty zones to avoid (parts of central downtown, Callao). Take Uber instead of street taxis. Don't walk after dark in unfamiliar areas. Trekking with licensed operators (Inca Trail, Salkantay, Choquequirao) is safe. Stay aware of pickpocketing in crowded tourist areas.
Convert to and from PEN
Other country currency guides
Exchange rates refresh hourly from Frankfurter (European Central Bank reference data). Travel money information was compiled in 2026 and reflects current cash/card culture, tipping norms, and common scam patterns.