Peru Money

Currency: Nuevo (New) Sol

The easiest currency to exchange is US dollars. Other currencies are only exchangeable in major cities and at a high commission. Money can be changed in banks, casas de cambio, first-class hotels or with street changers. Casas de cambio are usually the easiest places to change money. Street changers, who hang out near banks, never offer better rates than the best bank rate and have been known to cheat travelers so are best avoided. Rates vary from place to place but not significantly, unless you try to change money at a hotel which charges high commission. Travelers' checks are changed at a slightly lower rate than cash. Visa is the most widely accepted credit card, but credit cards attract an 8% commission unless you are using it for a cash withdrawal (in Peruvian currency) from a bank. ATMs (Visa and Plus system are most widely recognized) are now the best way to extract money in Peru.

Copyright 2003 Lonely Planet Publications , all rights reserved, used with permission 

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