Every globetrotter knows the importance of financial preparation. When it comes to exploring Peru, including Machu Picchu and the Amazon rainforest, navigating currency can feel daunting. But fear not! Here's a comprehensive guide to ensure a smooth financial journey in the land of the Incas.
Is Peru Expensive to Travel? (2024-2025 Update)
Compared to many European and US destinations, Peru remains a budget-friendly paradise. While neighboring Brazil, Chile, Colombia, and Mexico might have a higher price tag, Peru offers incredible value. From museums, beaches, deserts, Amazon rainforest, waterfalls and historical sites. The wonders of Peru, including the iconic Machu Picchu, are accessible to travelers of all budgets. Tours, hotels, lodges, and the world-famous Peruvian cuisine won't break the bank either.
Understanding the Peruvian Sol
The official currency of Peru is the Sol (S/ or PEN), divided into 100 cents (céntimos in Spanish). Coins come in denominations of 10, 20, and 50 cents, 1, 2, and 5 Soles, while banknotes come in denominations of 10, 20, 50, 100, and 200 Soles. For taxis and small shops, keep 10 and 20 Sol bills with 50-cent and 1 Sol coins handy. Interestingly, "Sol" translates to "sun" in Spanish, a nod to the Sun God (Inti) revered by the Incas.
What currency is accepted in Peru? Can I use US Dollars or Euros to pay?
While US Dollars (USD) are widely accepted in major cities, using Soles often offers better exchange rates. ATMs in main areas dispense both currencies. Euros can be exchanged in main cities.
Only bring pristine USD bills. Merchants refuse dirty or torn notes. Additionally, larger denominations like $100 bills are rarely accepted.
Pro Tip: Check for Sol discounts before deciding. If your hotel or airline charges in USD, pay in USD. Conversely, opt for Soles at restaurants displaying Sol prices.
Cash vs. Credit Cards:
A balanced approach is best. While most tourist establishments accept cards, it's wise to carry cash for smaller purchases or local markets. Remember, Peru is still a cash-dependent society.
Card Preferences: Which Credit Cards are the most used in Peru and the Amazon jungle?
Visa and Mastercard reign supreme in Peru, followed by American Express (AMEX). Look for signage indicating accepted cards, but it's always good to ask before swiping.
Tipping Etiquette in Peru:
Tipping is a way of expressing appreciation in Peru. While not mandatory, small tips are welcomed by waiters, hotel staff (porters and luggage handlers), and tour guides after a trip.
Bargaining Etiquette in Peru:
Get ready to hone your bargaining skills at local markets and smaller shops! Don't be afraid to inquire about the price and negotiate before purchasing, especially if you're planning a larger purchase.