Exchanging money in Lima is a crucial step for travelers looking to explore the stunning landscapes and rich cultural heritage of Peru, including the iconic Machu Picchu. Currency in Peru is the Sol (PEN), and it’s advisable to have some local currency on hand for small purchases, especially in rural areas and markets.
While many establishments in Lima and major tourist spots accept credit cards, cash is still king in smaller towns and attractions, including the Sacred Valley and Machu Picchu.
In Lima, you can exchange money at various locations including banks, currency exchange offices, and even some hotels. Currency exchange offices (known as 'casas de cambio') usually offer better rates than hotels, but it’s wise to compare rates from a few different locations.
Be cautious of street vendors or informal exchanges, as these can lead to scams or unfavorable rates. Always check the current exchange rate online before exchanging your money to ensure you’re getting a fair deal.
ATMs are widely available in Lima and are often the easiest way to obtain Peruvian Soles. However, be aware of transaction fees and ensure your bank is notified of your travel plans to avoid any issues with card usage.
It’s also advisable to withdraw cash in larger cities like Lima or Cusco, as smaller towns may have limited access to banking facilities.
When visiting Machu Picchu, it’s best to have enough cash for your entrance fee, souvenirs, and snacks, as card facilities are limited at the site itself.
Additionally, if you plan to take part in local tours or buy handicrafts in the Sacred Valley, having cash on hand will be beneficial.
Lastly, familiarize yourself with local customs regarding tipping and payments; small tips in cash are appreciated in restaurants and for services.
