Money in Peru: Currency, Exchange, ATMs, Cards and Tipping

Peru’s currency is the sol, with the symbol S/ and the international code PEN. In Cusco you’ll need cash in soles for markets, taxis, community entrance fees and villages, and a card for hotels, restaurants in the historic center and online bookings. US dollars are accepted at many tourist businesses, but not everywhere, and you change money at banks and exchange houses. Tipping is customary, not mandatory.

From Cusco we see travelers every week who arrive with a single card and not one sol in their pocket, or with torn dollar bills nobody will take. This guide explains how money works in Peru so you don’t waste time or pay unnecessary fees. What each part of the trip costs is covered in our budget for a trip to Cusco and Machu Picchu; here we focus on how to pay.

What is the currency of Peru? The sol (S/, PEN)

Peru’s monetary unit is the sol. Until December 2015 it was called the “nuevo sol”: Law 30381 changed its name to “sol,” according to the Central Reserve Bank of Peru (BCRP). Its symbol is S/, written before the amount (S/ 50), and its international code is PEN, which you’ll see on your bank statement and on booking websites. One sol is divided into 100 céntimos.

Peru’s old currencies, the inti and the sol de oro, are no longer legal tender. If someone offers you old bills from those series as if they were money, they are only collectibles.

Banknotes and coins in circulation

According to the BCRP, the bills in circulation today are S/ 10, S/ 20, S/ 50, S/ 100 and S/ 200. Coins come in 10, 20 and 50 céntimos, and S/ 1, S/ 2 and S/ 5. Céntimos are used for change at markets and shops; S/ 10 and S/ 20 bills are the most practical for everyday spending.

Several series at once

Your wallet will end up holding bills from different periods, and they are all worth the same. In 2021 the BCRP launched a new family, “Personajes y Patrimonio Histórico” (Figures and Historical Heritage), with figures from Peruvian culture and science on the front and the country’s animals and plants on the back. Bills from earlier series, with other figures, are still in circulation. The S/ 200 bill featuring painter Tilsa Tsuchiya entered circulation in December 2023 and circulates alongside the older one, which shows Saint Rose of Lima.

Bill	2021 series (front and back)	Most common earlier series (front)
S/ 10	María Isabel Granda y Larco (Chabuca Granda); vicuña	José Abelardo Quiñones; Machu Picchu on the back
S/ 20	José María Arguedas; condor and cantuta flower	Raúl Porras Barrenechea
S/ 50	María Rostworowski; jaguar and Puya raimondii	Abraham Valdelomar
S/ 100	Pedro Paulet; marvelous spatuletail hummingbird	Jorge Basadre
S/ 200	Tilsa Tsuchiya; Andean cock-of-the-rock and flor bella abanquina	Saint Rose of Lima

Fares checked on October 26, 2026. Confirm them on the official channel before you buy.

A detail for anyone heading to Cusco: the 2009-series S/ 10 bill shows the citadel of Machu Picchu on the back. It’s still in circulation, so you may well get one.

How to spot a fake bill: touch, look and tilt

The BCRP sums up the check in three steps, worth doing with every large bill you receive:

• Touch: a genuine bill is made of cotton and has raised print in some areas. Fakes are usually printed on ordinary paper and feel smooth.
• Look: hold it up to the light. The watermark on a real bill shows gradual tones; on a fake you only see two, light and dark.
• Tilt: when you tilt it, the ink on the numeral changes color and the security thread shows moving figures.

According to the BCRP, the most counterfeited bills are S/ 20 and S/ 100, and the most counterfeited coins are S/ 1 and S/ 5. Banks won’t swap a fake bill for a real one: if you accept it, you lose it. If in doubt, the BCRP website has a tool to check whether a bill’s serial number appears in its database of counterfeits. A worn or torn bill is not the same as a fake: genuine bills in poor condition can be exchanged at banks and savings institutions.

Are US dollars accepted in Cusco?

Yes, but not everywhere. PromPerú explains that US dollars are accepted at many shops, restaurants, hotels and gas stations. In Cusco you’ll see them mostly at hotels, tour agencies and services aimed at foreigners, such as the trains to Machu Picchu and many tours, which publish their rates in dollars.

Where they almost never work is everyday spending: markets, taxis, combis (minibuses), corner shops, public restrooms, community entrance fees and small food stalls. There you pay in soles.

Three things to know if you plan to pay in dollars:

• Bills in good condition. According to PromPerú, businesses often reject torn or damaged bills. Bring clean dollars with no tears or marks.
• The business sets the exchange rate. If you pay in dollars for something priced in soles, they’ll apply their own rate, and you’ll almost always get your change in soles.
• Prices must also be shown in soles. Indecopi, Peru’s consumer protection agency, points out that prices in Peru must be in the national currency; a business can show them in dollars only if it displays the equivalent in soles next to them, in the same type size.

Euros and other currencies aren’t accepted as payment on the street: you need to change them first.

Where to change money in Cusco

PromPerú notes that foreign currency can be changed at banks and exchange houses (casas de cambio), found in the main cities, at airports and in shopping malls. In Cusco’s historic center there are exchange houses on the streets around the Plaza de Armas. According to PromPerú, the usual hours are Monday to Friday from 9:00 a.m. to 6:00 p.m. and Saturdays until noon, although each business sets its own.

Exchange houses and banks

Every exchange house must register, before it starts operating, in a public registry kept by Peru’s Superintendency of Banking, Insurance and Pension Funds (SBS). The SBS publishes the list of registered exchange houses on its website and can order the closure of businesses operating without registration. Bear in mind that this registry exists to prevent money laundering: being registered doesn’t mean the SBS controls the rate you’re offered.

In practice, compare. Check the rate boards at two or three exchange houses, ask how much you’ll receive in total before handing over your money, and count the bills at the window. US dollars are easier to change than euros; other currencies can be hard to change in Cusco. Bring your passport, since you may be asked for it.

Street money changers

You’ll see people changing money on the street. Even if many of them are honest, the risk is higher than at a shop: fake bills, miscounted amounts or a bill swapped at the last moment. If you have no other option, change a small amount, check every bill with the BCRP method and never lose sight of your money or theirs.

Important: never change money with someone who approaches you offering a “good rate,” or in an out-of-the-way spot. If you’re handed a fake bill, no one will replace it.

How to check today’s exchange rate

We don’t give a figure because the exchange rate moves every day. To find the reference rate, check the SBS page “Cotización de oferta y demanda, tipo de cambio promedio ponderado” (weighted average exchange rate), which publishes the buying and selling rates for the US dollar, the euro and other currencies in the banking system every business day. The BCRP also publishes the exchange rate on its statistics portal. Exchange houses will offer you something different, with a spread between buying and selling; the useful thing is to compare their board with that reference.

ATMs in Cusco: how to withdraw cash

According to PromPerú, there are ATMs in almost every city in the country, most of them connected to the Plus (Visa), Cirrus (Mastercard) and American Express networks, and they let you withdraw soles or dollars. In Cusco you’ll find them at banks and along the streets of the center. Small towns and rural communities may have none, and Aguas Calientes does have ATMs, but it’s best to arrive with cash from Cusco in case one is out of order or has a line.

As for fees, every bank has its own and they change often, so we won’t give figures. Usually two parties may charge you: the bank that owns the ATM may charge a fee for using a foreign card, and the bank that issued your card may charge another for the withdrawal and the currency conversion. Many ATMs show their fee on screen before you complete the transaction; if you don’t like it, cancel and try another bank. To keep costs down, withdraw larger amounts less often instead of making many small withdrawals, and ask your bank before you travel what it will charge.

Tip: if the ATM or card terminal offers to charge you in your home currency instead of soles, look at the exchange rate it proposes and compare it with the day’s rate. If you’re not convinced, choose soles and let your bank handle the conversion.

Cards: where they work and where they don’t

Visa and Mastercard are the cards you’ll see most. In Cusco they work at hotels, agencies, restaurants in the center, supermarkets and larger handicraft stores. You’ll also pay by card for almost everything you book online: your Machu Picchu ticket on the official portal, the train and the bus from Aguas Calientes up to the citadel.

Outside that circuit, cash rules. PromPerú recommends carrying cash in rural areas because card payment may not be available. That includes markets such as San Pedro, taxis, combis, street stalls, many artisan workshops and almost every village in the Sacred Valley outside the hotels. You’ll also see signs with QR codes for Peruvian digital wallets: they’re only useful if you have an account with a Peruvian institution.

Some businesses add a surcharge for paying by card. According to Indecopi, they may do so only if they disclose it in a prominent, visible and accessible way before you pay; if they didn’t, they can’t charge it. Ask before you take out your card and, if you’re charged a surcharge that wasn’t disclosed, ask for the Libro de Reclamaciones (complaints book), which every business must give you on request.

What to pay by card and what to pay in cash in Cusco

This is the general rule we follow in Cusco. There can be exceptions either way, so always ask before you order or buy.

Expense	How it’s usually paid	Notes
Machu Picchu ticket, train and bus to the citadel bought online	Card	On each service’s official website
Hotels and tour agencies	Card, soles or dollars	Ask whether there’s a card surcharge
Restaurants in the historic center	Card or cash	Small places and set-menu lunches often take cash only
Supermarkets and large stores	Card or cash	Widely accepted
Markets (San Pedro, neighborhood markets)	Cash in soles	Small bills and coins
Taxis and combis	Cash in soles	Agree on the taxi fare before getting in
Community entrance fees (Rainbow Mountain, Humantay, Palcoyo)	Cash in soles	Paid at the checkpoint on the trail
Maras Salt Mines, Qorikancha and other separate entrance fees	Cash in soles	Don’t count on a card terminal
Horses, restrooms and snacks on excursions	Cash in soles	Small bills
Handicrafts at workshops and fairs	Almost always cash	Large stores take cards
Tips	Cash	In soles, directly to the person

Day trips to Rainbow Mountain and Humantay Lake are the classic case: the community entrance fee is paid in cash and in soles, and it isn’t included in the Cusco Tourist Ticket. Don’t count on finding ATMs along the way that day.

Tipping in Peru: when and how much

In Peru tipping is a custom, not an obligation. Indecopi also points out that the price you’re shown must be the total: a business can’t add a “service” charge, a tip or a similar fee afterward if it didn’t tell you about it when giving you the price. Check the bill before paying.

What people usually do in Cusco, without fixed amounts:

• Restaurants with table service: if the service was good and the bill doesn’t include a service charge, it’s common to leave something. At markets and food stalls it isn’t expected.
• Day-trip guides: a tip at the end is appreciated if you liked your guide, especially on long tours.
• Multi-day treks: on the Inca Trail, Salkantay and other routes it’s customary to tip the team at the end: guide, cooks, muleteers and porters. Ask the agency before you set off how it’s usually shared, and bring the amount in soles and in small bills. More on these routes in our comparison of treks to Machu Picchu.
• Taxis: tipping isn’t customary; you pay the agreed fare.
• Photos with people in traditional dress or with llamas: on streets such as those of San Blas you’ll be asked for a small amount for the photo. It’s a payment, not a tip: ask before you shoot.

The amount is up to you, the service and how long it lasted. What matters is to give it in soles, by hand, to the person who served you.

Keeping your money safe in Cusco

In markets, bus terminals, festivals and crowded streets there are pickpockets, as in any tourist city. These are the precautions we recommend, along with the SBS advice for ATMs and cards:

• Split your money: a little at hand for the day and the rest at the hotel or in an inside pocket.
• Bring two cards from different banks and keep them separately. Tell your bank you’re traveling to Peru.
• Use ATMs inside banks or in busy areas, during the day. The SBS advises checking that the ATM has no strange devices attached, covering the keypad when you type your PIN and not accepting help from strangers.
• Don’t lose sight of your card when paying: ask for the card terminal to be brought to your table or go to it yourself.
• Don’t withdraw or carry large sums of cash, as the SBS recommends.
• Count your money inside the exchange house or bank, not on the street.
• Keep small bills handy: pulling out a wad of cash to pay for a taxi draws attention.

If you arrive in Peru with a lot of cash, SUNAT (the tax and customs authority) requires you to declare it at customs when it exceeds US$10,000 or the equivalent in another currency, and it doesn’t allow you to bring in more than US$30,000: above that amount you must use the financial system. We explain the flight from Lima and arriving at Cusco airport in how to get from Lima to Cusco.

Summary: money on your trip to Cusco

• The currency is the sol (S/, code PEN). Bills from S/ 10 to S/ 200 and coins from 10 céntimos to S/ 5.
• Several series of bills circulate side by side and all are valid. Check large ones with the BCRP method: touch, look and tilt.
• Dollars work at hotels, agencies and tourist services, as long as they’re in good condition. For everyday spending you need soles.
• Change money at banks or at exchange houses registered with the SBS, compare rate boards and check the reference rate on the SBS website.
• ATMs in Cusco accept foreign cards; fees depend on the ATM’s bank and on yours.
• Pay by card at hotels, restaurants in the center and for online bookings; carry cash in soles for markets, taxis, community entrance fees and villages.
• Tipping is voluntary: common at restaurants with table service and at the end of treks, in soles and by hand.

Before you pack, add a money belt or inside pocket and a second card to your list: everything else is in our Cusco packing list.