Money

1. Currency Exchange

The official currency of Peru is the Nuevo Sol. A majority of shops, restaurants and businesses accept American dollars as payment but mostly provide change in Soles. It is best advisable to carry U.S. Dollars of lower denominations such as $10 and $20.

Currency can be exchanged at all major cities in banks, casas de cambio, first-class hotels or with street changers. Casas de cambio are generally the best place to change money. Changing money with street changers is an option, however, it is not advisable to do so owing to their dubious reputation and illegal standing. The rate of exchange varies at different exchange centers but not significantly, unless you try to change money at hotels that may charge high commission. Be sure to examine the condition of bill.

The most widely accepted credit cards in Peru are Visa and MasterCard. Diners Club and American Express are not very popular. Credit cards attract an eight percent commission if they are used payment of goods and services. Traveler checks can be changed at a lower rate than cash. ATMs are located at almost all major cities in Peru. Most ATMs work on the Plus System and some also accept Star, Cirrus and Interlink.

2. What a Dollar Will Buy You

If you intend to stay in Peru and want to cook your own meals, expect to pay $1 for a liter of milk, $3.10 for 500 grams of butter, $3.32 for 500 grams of cheese, $1.14 for a dozen eggs, $1.85 for 1 kilogram of bread (white loaf) and $0.87 for 1 kilogram of long grain rice. Bottled mineral water (1 liter) will cost $0.4. A 1-liter bottle of Coca Cola costs about half a dollar in Peru.

A three-course dinner in a restaurant will cost about $20, while a fast food meal will cost about $4. Expect to pay about $3 for beer at a bar.

Bathroom supplies in Peru will cost under $8.

3. Telecommunications

The international calling code of Peru is +51. To make international calls from Peru, dial 00, followed by the country code, the city code and the telephone number. Long distance calls within Peru can be made by dialing the area code of the city followed by the phone number.

The telecommunications sector in Peru improved tremendously after it was privatized and acquired by Spain's Telefonica in the mid 1990s.

Phone calls can be made from the hotel itself. However, the calling rates are comparatively high. Payphones are scattered all over major cities and towns in Peru and can be used to make local, long distance and international calls. Pay phones accept coins and phone cards (tarjetas telefónicas in the local tongue). Phone cards are the cheapest way to make international calls and cost about $9. They are sold at newspaper kiosks and street vendors.

Internet connectivity is available at all major cities. Various software available at Internet centers and cafes allow visitors to make international phone calls.

4. Cab Fares

Cabs in Peru are not metered and fares should be agreed before utilizing the service. Cab fares are generally expensive in Lima compared to other cities. Cab fare per kilometer is about $0.60 and may increase by 50 to 60 cents per kilometer after midnight and on public holidays.

5. Currency Exchange Rates

The Nuevo Sol is the official Peruvian currency and is denoted as PEN. $1 is equivalent to 3.25 PEN.

Currency Exchange Rates

PEN 1.00 = USD 0.30 GBP 0.16 CAD 0.34 AUD 0.41 ZAR 2.20 EUR 0.24 NZD 0.50

U.S. Dollar PEN U.S. Dollar PEN

$10 32.58 $200 651.65

$20 65.16 $300 977.47

$50 162.91 $500 1,629.13

$100 325.82 $1000 3,258.25

5. Taxes

A sales tax of 19% is added automatically to every bill. A tax of $5 per person is applicable for all tourists using domestic flights at Peruvian airports. The departure tax for international flights is $25 per person and must be paid in cash.

6. Tipping

A tip of 10% to 15% is standard at top end restaurants. A gratuity of $3 to $4 per day is sufficient for tour guides. Bellhops should be tipped $0.50 per bag.