CURRENCY EXCHANGE IN PERU: A GUIDE FOR CANADIAN, AMERICAN, AND AUSTRALIAN DOLLARS

 

When embarking on a journey to the captivating landscapes and rich cultural heritage of Peru, one of the essential aspects to consider is currency exchange. Understanding the type of currency exchanges available, where to make these exchanges, and the specifics for the Canadian, American, and Australian dollars can greatly enhance your travel experience. In this guide, we'll explore the key points to keep in mind when dealing with currency exchange in Peru.

 

Soles and Dollars

Types of Currency Exchange:

Peru's official currency is the Peruvian Sol (PEN). While many places across the country accept major foreign currencies, it's recommended to exchange your dollars for local currency to ensure smooth transactions and avoid unfavorable exchange rates. There are primarily two types of currency exchange platforms in Peru.

 

 

Banks and Financial Institutions: Major cities and tourist areas in Peru have banks and financial institutions that offer currency exchange services. These establishments generally provide competitive exchange rates and are a reliable option for travelers. It's advisable to have your identification handy, as it may be required for currency exchange transactions.

 

Peruvian Bank

 

Authorized Exchange Bureaus: These bureaus, known as "casas de cambio," are prevalent in tourist areas. While they might offer slightly different rates than banks, they are still a convenient option for exchanging money. Always ensure that the exchange bureau is authorized by the government to avoid scams or unfair rates.

 

Casa de Cambio

 

Where to Exchange Canadian, American, and Australian Dollars:

For travelers with Canadian, American, or Australian dollars, here's a breakdown of what to expect:

Canadian Dollar (CAD): Both banks and exchange bureaus generally accept Canadian dollars. It's advisable to check the current exchange rate before your trip to have a rough idea of how much Peruvian Sol you should receive. Banks might require you to have larger denominations of Canadian dollars for exchange.

American Dollar (USD): US dollars are widely accepted in Peru, especially in tourist areas. However, be aware that smaller vendors or establishments outside major cities might prefer local currency. Always carry smaller denominations for easier transactions.

Australian Dollar (AUD): While less common than US dollars, some banks and exchange bureaus might accept Australian dollars. It's recommended to inquire beforehand or opt for exchanging Australian dollars to US dollars before arriving in Peru for broader usability.

 

Australia Currency

 

Tips for Currency Exchange

 

Exchange Rates

 

Keep an eye on exchange rates before your trip. This helps you make informed decisions and avoid unfair rates. Exchange rates change on a daily basis!

At the time of writing this article, these are the current exchange rates for the Peruvian sol:

Canadian dollar - 1= s/. 2.72soles

Australian dollar - 1= s/. 2.37 soles

US Dollar - 1 = s/. 3.70 soles

UK - 1 = s/.4.66 soles

 

World Exchange Rates

 

Crisp New Notes

Please be aware that if your dollars are older or ripped/torn in any way, you will have difficulty in changing them. Money changers often refuse to change ripped notes or will give you a lower exchange rate. Please bring new dollar bills that are not torn in any way to avoid any issues.

 

Canadian Currency

 

Local Currency

Having Peruvian Sols on hand is essential for places that might not accept foreign currency. This is especially true in more remote or less touristy areas. It is also a recommendation to carry small notes and coins as quite often you can have issues with change also.

 

Small Change

 

ATMs

ATMs are widely available in cities and towns. They offer a convenient way to withdraw local currency, but be cautious of withdrawal fees.

 

Peruvian ATM

 

Identification

Carry a valid identification document like a passport when exchanging currency. Some places might require it for verification.

 

Remember your Passport!

 

Timing

Exchange a small amount of money at the airport upon arrival for immediate expenses. Then, explore better exchange rates at banks or authorized exchange bureaus.

 

Money Exchange

 

As you set foot in Peru's enchanting landscapes, having a good grasp of currency exchange options will undoubtedly enhance your journey. From the bustling streets of Lima to the ancient ruins of Machu Picchu, seamless currency transactions will ensure your focus remains on the incredible experiences this country has to offer. Find out more here about currency exchange!