Planning a trip to Peru? Understanding the peruvian sol currency is essential for managing your budget and avoiding tourist traps. This quick guide breaks down everything you need to know — from where to get the best exchange rates to how much cash to bring, plus tips from a local guide in Cusco. Whether you’re exploring Machu Picchu or shopping in a local market, paying in soles will almost always save you money.
What is the sol currency and when should travelers use soles vs USD?
The Peruvian sol (symbol: S/ or PEN) is the official currency of Peru. While U.S. dollars are accepted in tourist-heavy businesses, you’ll always get better deals by paying in soles — especially in markets, taxis, and local eateries.
When Should You Use Soles vs U.S. Dollars?
In my experience, travelers get confused about when to use USD. Here’s the rule I always tell my tour groups:
- Use USD: Hotels, tour agencies, upscale restaurants (especially in Lima and Cusco).
- Use Soles: Markets, taxis, local buses, street food, entrance fees, tips.
“ Tip: Carry both USD and soles, but pay with soles whenever possible. Many vendors offer poor conversion rates if you pay in dollars. ”
Denominations of the Peruvian Sol
| Denomination | Details |
|---|---|
| Bills | 10, 20, 50, 100, 200 soles |
| Coins | 0.10, 0.20, 0.50 céntimos; 1, 2, 5 soles |
“Tip: Keep small bills. Many shops, taxis, and markets won’t accept 100 or 200 soles notes.”
The sol currency is issued in colorful banknotes of 10, 20, 50, 100, and 200 soles. Each bill highlights national heroes, cultural symbols, and iconic landmarks of Peru. Travelers should always carry smaller denominations — since many shops, taxis, and markets may refuse 100 or 200 soles notes due to lack of change.
In addition to paper money, the sol currency also includes coins of 10, 20, and 50 céntimos, as well as 1, 2, and 5 soles. These coins are widely used for everyday transactions such as buses, markets, and tipping. They often feature Peru’s coat of arms and commemorative designs celebrating national heritage.
Exchange Rates in 2025: What You’ll Get for Your Money
As of August 2025:
- 1 USD ≈ 3.5–3.6 PEN
- 1 EUR ≈ 4.1–4.2 PEN
- 1 GBP ≈ 4.7–5 PEN
Live USD to PEN Rates and Trends This Year
Here’s the average exchange rate trend for USD to PEN in 2025:
| Month | Avg. Rate |
|---|---|
| January | 3.7 |
| April | 3.65 |
| August | 3.52 |
Check current rates here:
Where to Exchange Money in Peru: City-by-City Tips
Lima: Best rates in Miraflores and downtown. Avoid airport kiosks.
Cusco: Reliable casas de cambio on Avenida El Sol.
Aguas Calientes: Worst rates. Exchange before going.
Tips:
- Compare at least two places.
- Only accept clean bills.
- Never change money on the street.
When to Pay in USD and When to Use Soles
| Place | Recommended Currency |
|---|---|
| Hotels | USD |
| Tour agencies | USD |
| Upscale restaurants | USD or Soles |
| Markets, taxis | Soles |
| Rural areas | Soles only |
“In rural villages around the Sacred Valley, even 5 soles can go a long way — and dollars are often useless.”
Using ATMs and Cards in Peru: Avoiding Hidden Fees
ATM Fees:
- Local bank fee: 12–20 soles
- Foreign bank fee: up to 3%
- Max withdrawal: 700–1000 soles
Tips:
- Use ATMs inside banks.
- Withdraw larger amounts.
- Always choose PEN, not USD.
Apple/Google Pay: Growing in Lima, limited elsewhere.
Budgeting Your Trip: How Much Cash You’ll Need Per Day
| Traveler Type | Daily Budget (PEN) | Approx. USD |
|---|---|---|
| Budget | 120–180 | $33–$48 |
| Mid-range | 220–380 | $60–$100 |
| Comfort | 400–700+ | $105–$185+ |
Real Tips from a Local Guide: Avoid These Common Mistakes
- Never exchange at airports.
- Always ask for rate before exchanging.
- Refuse damaged bills.
- Don’t rely on cards in small towns.
- Exchange before Machu Picchu.
Final Tips Before You Land in Peru
Managing your money wisely is one of the easiest ways to make your trip smoother. Use the sol currency for everyday expenses, avoid exchanging at airports, and stick to trusted casas de cambio or ATMs inside banks. With just a little preparation, you’ll stretch your budget and travel with peace of mind.
If you’d like expert guidance during your journey, join us at Conde Travel.
