Introduction
Peru is a popular travel destination for people all around the world. It is known for its rich cultural heritage, historical sites, and diverse natural wonders. One of the essential things to consider when traveling to Peru is currency. In this article, we will discuss everything you need to know about Peru’s currency in 2023.
Peruvian Sol
The official currency of Peru is the Peruvian Sol (PEN). The currency is denoted with the symbol S/., and it is divided into 100 cents. The Sol comes in different denominations, including banknotes and coins. The banknotes come in 10, 20, 50, 100, and 200 Soles, while the coins come in 1, 2, and 5 Soles, and 10, 20, and 50 cents.
Exchange Rates
Before traveling to Peru, it is essential to know the exchange rate of the currency. The exchange rate of the Sol fluctuates depending on the economic conditions of the country. As of 2023, the exchange rate of the Sol is approximately 0.28 USD, 0.23 EUR, and 0.20 GBP.
Where to Exchange Currency
There are many places to exchange currency in Peru, including banks, exchange offices, and hotels. However, it is advisable to exchange currency in banks or exchange offices to get a better exchange rate. Also, it is essential to avoid exchanging currency in the streets, as it may lead to fraud or receiving counterfeit notes.
ATMs
ATMs are widely available in Peru, especially in major cities and tourist destinations. The ATMs dispense Peruvian Soles and accept international debit and credit cards. However, it is advisable to check with your bank beforehand if they have partnerships with any Peruvian banks to avoid additional charges.
Credit Cards
Credit cards are widely accepted in Peru, especially in major cities and tourist destinations. Visa and Mastercard are the most widely accepted credit cards. However, it is advisable to carry cash for smaller transactions or when traveling to remote areas where credit cards may not be accepted.
Tipping Culture
Tipping is not mandatory in Peru, but it is customary to tip in restaurants, cafes, and bars. The standard tipping rate is 10% of the total bill. Additionally, it is also customary to tip tour guides, drivers, and hotel staff for exceptional service.
Conclusion
Peruvian currency is an essential aspect of travel to Peru. Knowing the exchange rate, where to exchange currency, and the use of credit cards and ATMs can make your trip more comfortable and stress-free. By following the tips mentioned in this article, you can make the most of your trip to Peru in 2023.
Bonus Tip
Peru is a cash-based society, and many smaller businesses only accept cash payments. It is advisable to carry small denominations of the Sol to avoid any inconvenience.
Bonus Tip
The Peruvian government charges a 10% sales tax (IGV) on most goods and services. The tax is usually included in the advertised price, but it is essential to check before making any purchases.
Bonus Tip
Peru is known for its beautiful handicrafts, textiles, and ceramics. It is essential to carry cash when shopping at local markets, as many vendors may not accept credit cards.
