The official currency used in Peru is the Peruvian Sol (PEN), which is subdivided into 100 céntimos. The Sol has been the national currency since 1991, replacing the previous currency, the Inti. As a traveler, it's important to familiarize yourself with the currency, especially when visiting popular destinations like Machu Picchu and Cusco.
When you arrive in Peru, you will find that the Sol comes in various denominations, including coins of 1, 5, 10, 20, and 50 céntimos, as well as 1, 5, 10, 20, 50, 100, and 200 Sol notes. While credit and debit cards are widely accepted in major cities and tourist areas, it's advisable to carry cash for smaller purchases or in remote locations.
In areas like Machu Picchu, there are few options for currency exchange, so it’s wise to convert your money beforehand or withdraw from ATMs in cities like Cusco. Be aware of exchange rates, and always exchange money at reputable locations, such as banks or official currency exchange offices.
Additionally, haggling is common in local markets, so having small denominations will help in negotiations. Remember that while many places accept US dollars, it’s best to pay in Soles to avoid unfavorable exchange rates.
Keep an eye out for counterfeit bills, particularly larger denominations. Familiarizing yourself with the look and feel of genuine Sol notes can help prevent this issue. Tipping is also customary in Peru, with 10% being a standard practice in restaurants.
Lastly, ensure you have a small stash of cash handy when exploring the breathtaking landscapes of the Sacred Valley or hiking the Inca Trail to Machu Picchu, as some vendors may not accept cards. With the right preparation, managing your finances will be one less worry during your unforgettable Peruvian adventure!
