Home Information of Peru Money and costs


Costs

Backpackers who don't want to spend a lot of money can easily get by on US$20 to US$25 a day by sleeping in dormitory rooms, traveling on economy buses and eating set menus. Visitors who prefer private hot showers, à la carte meals in moderately priced restaurants, comfortable buses and occasional flights will spend US$35 to US$75 a day.

You can stretch your budget by traveling with a partner, because double rooms are usually less expensive than two single rooms. Try to bargain, taxi drivers overcharge tourists when they can and hotels can often give you discounts if you simply ask for their ‘best price'. Many restaurants offer filling three-course set lunches for around S/5 (about US$1.50), while eating à la carte will triple your bill. Paying with cash is cheaper than with credit card. Peruvian ATMs dispense both local currency (nuevos soles) and US dollars.

Money

The local currency of Peru is the nuevo sol (S/), which can be traded at around S/3.00 per US dollar (US$).

We advise you to carry cash, an ATM or traveler’s check card and also a credit card that can be used for cash advances in case of emergency. When changing your dollars for local currency, always ask for small bills (billetes pequeñas), as S/100 bills are hard to change in small towns or for small purchases. The best places to exchange money are normally casas de cambio, which are fast, have longer hours and often give slightly better rates than banks.

ATMs

ATMs are found in nearly every city and town in Peru, as well as at major airports and bus terminals. ATMs are linked to the international Plus (Visa), Cirrus (Maestro/MasterCard) systems, American Express and other networks. Before you leave home, notify your bank that you’ll be using your ATM card abroad.

ATMs are normally open 24 hours. For safety reasons, use ATMs inside banks with security guards, preferably during daylight hours.

Credit cards

Many top hotels and shops accept credit cards but usually charge you a 7% (or greater) fee for using them.

The most widely accepted cards in Peru are Visa and MasterCard, although American Express and a few others are valid in some establishments, as well as for cash advances at ATMs. Before you leave home, notify your bank that you’ll be using your credit card abroad!

 

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