The official currency used in Peru is the Peruvian sol, often abbreviated as PEN. The sol is subdivided into 100 céntimos and has been the official currency since 1991, replacing the previous currency, the inti. When traveling to Peru, especially to popular destinations like Machu Picchu and Cusco, it is important to familiarize yourself with the currency and its usage.
As of October 2023, the exchange rate is approximately 3.8 soles to 1 US dollar, but this can fluctuate. It is advisable to check the current exchange rate before your trip. ATMs are widely available in major cities and tourist areas, and they usually dispense soles. However, be cautious of transaction fees and use ATMs located in secure locations.
In most shops, restaurants, and markets, you can pay with cash in soles. It's a good idea to carry small denominations since many vendors may not be able to provide change for larger bills. While credit and debit cards are accepted in many establishments, it’s wise to have cash on hand, especially when exploring more remote areas or local markets.
Additionally, when visiting Machu Picchu, you'll want to ensure you have sufficient cash for any last-minute purchases or tips for guides. Keep in mind that some areas may charge a fee for services, so having cash can be essential.
To get the best exchange rates, consider exchanging your currency at official exchange offices or banks rather than at the airport, where rates tend to be less favorable. Also, always be cautious when handling large sums of cash and avoid displaying money openly.
Overall, understanding the currency and its use will enhance your travel experience in Peru, allowing you to fully enjoy the rich culture and stunning landscapes of destinations like Machu Picchu and the Sacred Valley.
