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What are the best currency exchange tips in Peru ?

The national currency in Peru is the Nuevo Sol. Its currency code is PEN

Foreign currencies can be easily exchanged everywhere, especially in the currency exchange offices and in some shops. There are usually no commission, except in offices at airports, but their rates are more or less favorable depending on the place.

It is also possible to exchange the euro with street changers. They must have a professional card. They work in easily identifiable groups, and the police are most often present at their side, so there is no security problem, at least during the day.

The US dollar changes in the same way in currency exchange offices and with street changers, but also in banks. Unlike currency exchange offices, they are present even in small towns, hence the best for long-distance travelers off most common tracks is to bring cash in dollars ( even if it is not your home currency).

The ATMs that accept Visa and MasterCard cards are present almost everywhere. The transaction takes place at the official exchange rate but includes bank fees.

Because of the fixed fee it is better to withdraw a large amount one time than withdrawing several times.

However ATM frequently refuse withdrawals greater than 500 or 1,000 Sols. In this case, simply renew the operation (by multiplying the fixed charges on each withdrawal practiced by your bank!).

There are also ATMs in pharmacies and supermarkets, but a commission of 12 Sol per withdrawal (except with the Visa card) is debited, so prefer those of the big banks.

Holders of an American Express card will be able to withdraw money at no additional cost to BCP Bank ATM. It is also possible in those of Globalnet, very numerous in the touristic areas, but with a commission of 14 Sol also.

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Be careful:  notes come out BEFORE the credit card. Do not forget your credit card in the machine.

It is possible to pay with a credit card in a number of hotels and restaurants (but not everywhere), as well as in a growing number of shops. The transaction is made at the official exchange rate and the bank charges are less than the ATM.

 Make sure your banknotes and coins are in good condition, and always check if the full amount is there, because after it is too late to claim. You will also see the Peruvians checking the notes to light, there are quite a few fakes in circulation.

Tags : currency exchange peru
Photo credits : dyonis