Peru - How much money, Peru money, do we need to bring/buy?

When traveling abroad, it's always a question of how much local money we will need. After all, there is an expense in fees to buy the money, so you don't want to get more than you need, and yet, you do want to bring enough for what you need. Therefore the question is, what do I need?

Also, do I buy at home, or do I wait till I arrive and try to buy at the airport, hotel, or where ever I am able to exchange? Do I use an ATM, or bring US Dollars to exchange?

We're on an 11 day trip traveling to various destinations such as a brieft tour of Lima, and visiting Paracas, Nazca, Arequipa, Colca, Puno/Lake Titicaca, Cusco, Sacred Valley, Ollantaytambo, and Machu Picchu.

Generally, we don't buy anything to bring home, and try to use credit cards as much as possible, and local currency where credit cards are not needed or accepted.

Hoping to receive replies where people might share how much money they brought, and/or when they needed or purchased local currency while in Peru.

Where/when will I need cash, how easy is it to use credit cards? How easy is it to find and use an ATM for extra cash?

Any help and information with this concern is greatly appreciated. Thanks.

When traveling abroad, it's always a question of how much local money we will need. After all, there is an expense in fees to buy the money, so you don't want to get more than you need, and yet, you do want to bring enough for what you need. Therefore the question is, what do I need?

Also, do I buy at home, or do I wait till I arrive and try to buy at the airport, hotel, or where ever I am able to exchange? Do I use an ATM, or bring US Dollars to exchange?

We're on an 11 day trip traveling to various destinations such as a brieft tour of Lima, and visiting Paracas, Nazca, Arequipa, Colca, Puno/Lake Titicaca, Cusco, Sacred Valley, Ollantaytambo, and Machu Picchu.

Generally, we don't buy anything to bring home, and try to use credit cards as much as possible, and local currency where credit cards are not needed or accepted.

Hoping to receive replies where people might share how much money they brought, and/or when they needed or purchased local currency while in Peru.

Where/when will I need cash, how easy is it to use credit cards? How easy is it to find and use an ATM for extra cash?

Any help and information with this concern is greatly appreciated. Thanks.

I always have some Soles (Peru currency) with me. Would recommend that if this is your first trip to Peru, go ahead and get some. Bank of America here in the US has a pretty convenient forex by mail program.

As for on the ground in Peru, you should be able to get plenty of Soles from the ATMs at the airport the moment you arrive in Lima. Your bank ATM card should work but there is a small fee ($3-5) charged by your bank/other bank. There are also ATMs in most of the big cities so no worries. I would note that because of the fees, I tend to withdraw enough for the entire trip at a single go around.

There are also these licensed money changers at major tourist destinations like Cusco where you can get USD -> Soles exchanged.

Specifically to your questions. I would bring perhaps the equivalent of US$200 in Soles with me. Maybe another couple hundred in US$ cash as a backup. Then hit the ATMs along the way. Hotels and large restaurants all take credit cards too. Its the little places you have to watch out for.

Also, make sure the currency is in good shape with no tears, holes or significant fading.

I don't know how prevalent it is but I tried to exchange some dollars in Peru and they wouldn't take a couple of bills that were a little worn.

I also had a couple of folks balk at taking soles (that I'd just gotten at the exchange) that were worn.

I've had a few friends report similar experiences. Probably not a major problem but it can be a little irritating.

Have fun.

The amount SometimesFlyer mentions is the same I would recommend. ATMs give US dollars, too, just in case. And most restaurants and shops accept dollars, though the rates are a bit low; so it's better if you change for soles at the money exchanger.

Shops and restaurants accept Visa (the most popular), Amex, Master. Some little restaurants doesn't like to accept credit cards if the amount is too short (let's say 5 to 10 dollars), but no problem if it's more than US $10, then cards are welcome.

And yes, people are sometimes reluctant to accept worn bills, even if it's just a bit. And, I don't know why, some people does not accept bills with the spot of a counterfeit bill checker pen.

Another tip, if you want to pay with dollars at a restaurant or shop, it's better with $20 or $50 bills. Sometimes they don't want $100 bills

I always (well almost) get local currency from the ATM at the airport. I have a bank that refunds ATM fees, so the amount of the fee doesn't bother me.

On my last day, I pay my hotel bill with my local currency (except for what I need to get to the airport and pay tips) and put the rest on my credit card. That way I don't generally worry about having too much cash at the end.

Does anyone happen to know if the currency exchange booth across from the DFW terminal D Admiral's club gives a better rate than I would get after arrival in Peru?
I ask because in February when I went to Chile, the rate was indeed better in Dallas for conversion to CLP.

My experience is that ATM rates are invariably better than ANY exchange booth.

USD is a legal secondary currency in Perú right?

You can pay for goods in supermarkets in USD and they will give you your change in Soles. They have great exchange rates.

All the ATMs in LIM are Interbank Globalnet machines that refuse to work with my Citi debit card, so if you get there and your card also doesn't work, you have a poxy walk over the bridge to the strip mall in Callao.

Cambistas on the corner* of the Óvalo in Miraflores give excellent rates, as good as ATMs without the commissions.

*Yeah OK an óvalo technically doesn't have corners.

I always (well almost) get local currency from the ATM at the airport. I have a bank that refunds ATM fees, so the amount of the fee doesn't bother me.

On my last day, I pay my hotel bill with my local currency (except for what I need to get to the airport and pay tips) and put the rest on my credit card. That way I don't generally worry about having too much cash at the end.

Yeah, may be a good idea if you never return to the country. But if you do, then, not so good an idea. I cannot tell you how many times I've arrived at an airport, even one I know well, then be in a rush as the flight landed late and jump right into a cab. Next thing I know, opps, forgot to hit ATM ... dig around in bag and thank goodness I at least have enough for cab fare.

I just looked and right this moment, I have 6 different currencies tucked away in a little pouch in my bag. Call me paranoid ...

Peruvian rates would be much better than at DFW. You can exchange everywhere in Peru at incredible spreads (1% between bid and ask). Just take crisp, new $100 bills with no holes, and inspect each note you receive, especially if you're on the street not at a shop.

rarely found anywhere that didnt take USD.

One tip on USD -> SOL and vice versa....get it exchanged for free at the casinos in Miraflores. I was getting a 2.68 exchange rate a few weeks ago when xe.com showed 2.67. That rate is in either direction, so they are not taking a cut at all (obviously because they expect you to gamble there).

The following four steps will serve you well in virtually ALL foreign countries (except for, perhaps, North Korea):

1) Get an ATM fee-rebating debit card (Charles Schwab will do wonderfully for this) and a credit card (Cap One, for example.)

2) Take out a fair amount of USD from the bank before you leave. This money will be your backup in case of emergency. I usually opt for $100 or so if I'm going on a normal (1-2 week trip) somewhere in the developed world, perhaps $200 or so if I'm in Latin America. If you're going on a three-month-long backpacking expedition across Asia, it might be good to bring a lot more - say, $1000 - but that's a special case.

3) Go to the ATM immediately after arriving in the airport of your destination, withdraw whatever local currency you think you'll need for a week or two.

4) Repeat step 3 as necessary.

The last time I've had a problem finding or using an ATM abroad occurred, if I'm not mistaken, in 1998 or 99, when for some reason Spanish ATMs wouldn't work with my MasterCard. Since then, I've never had a problem - not in darkest Bolivia, nowhere. Seriously, today there are ATMs almost everywhere, unless you're going to a tiny hamlet at the end of the known universe. And, if you are, then just make sure you withdraw money before you go there.

All this discussion of bringing new bills, using airport forex kiosks, having your bank deliver forex to your door - way too complicated, and you're not going to get as good a rate as you will by simply using a debit card at a local ATM.

The only possible exception to this would be a country that has a controlled foreign exchange system and thus multiple rates (say, Cuba or Argentina). In those cases, you *might* get a better rate bringing dollars in and changing on the black market. Of course, you also could get ripped off because strictly speaking such transactions aren't legal.

Also, in Peru credit and debit card use is ubiquitous, as are ATMs. You'll have no problems whatsoever obtaining soles.

The following four steps will serve you well in virtually ALL foreign countries (except for, perhaps, North Korea):

1) Get an ATM fee-rebating debit card (Charles Schwab will do wonderfully for this) and a credit card (Cap One, for example.)

2) Take out a fair amount of USD from the bank before you leave. This money will be your backup in case of emergency. I usually opt for $100 or so if I'm going on a normal (1-2 week trip) somewhere in the developed world, perhaps $200 or so if I'm in Latin America. If you're going on a three-month-long backpacking expedition across Asia, it might be good to bring a lot more - say, $1000 - but that's a special case.

3) Go to the ATM immediately after arriving in the airport of your destination, withdraw whatever local currency you think you'll need for a week or two.

4) Repeat step 3 as necessary.

The last time I've had a problem finding or using an ATM abroad occurred, if I'm not mistaken, in 1998 or 99, when for some reason Spanish ATMs wouldn't work with my MasterCard. Since then, I've never had a problem - not in darkest Bolivia, nowhere. Seriously, today there are ATMs almost everywhere, unless you're going to a tiny hamlet at the end of the known universe. And, if you are, then just make sure you withdraw money before you go there.

All this discussion of bringing new bills, using airport forex kiosks, having your bank deliver forex to your door - way too complicated, and you're not going to get as good a rate as you will by simply using a debit card at a local ATM.

The only possible exception to this would be a country that has a controlled foreign exchange system and thus multiple rates (say, Cuba or Argentina). In those cases, you *might* get a better rate bringing dollars in and changing on the black market. Of course, you also could get ripped off because strictly speaking such transactions aren't legal.

Also, in Peru credit and debit card use is ubiquitous, as are ATMs. You'll have no problems whatsoever obtaining soles.

I agree with all of the above except that some of the countries where you might have a hard time finding an ATM that will take a "PLUS" or "STAR" ATM card may surprise you.

Japan for instance ... apart from the airport and foreign bank branches, most of the other ATMs you see on the streets do not accept foreign ATM cards. So deepest darkest Bolivia indeed! :D

I agree with all of the above except that some of the countries where you might have a hard time finding an ATM that will take a "PLUS" or "STAR" ATM card may surprise you.

Japan for instance ... apart from the airport and foreign bank branches, most of the other ATMs you see on the streets do not accept foreign ATM cards. So deepest darkest Bolivia indeed! :D

Haha - never been to Japan so I can't speak to that. But I'm certain that at least some ATMs there must take foreign cards, no? I mean - if I can use my debit card at random machines in the middle of Bolivia, Guatemala, wherever, then I certainly must be able to in the most technologically advanced society on the planet, no?

Haha - never been to Japan so I can't speak to that. But I'm certain that at least some ATMs there must take foreign cards, no? I mean - if I can use my debit card at random machines in the middle of Bolivia, Guatemala, wherever, then I certainly must be able to in the most technologically advanced society on the planet, no?

Not always a technological issue. It's a matter of taxes and laws. 30 years ago, Peru had those restrictions not because of technical issues, but laws. And I think Venezuela had, too. Nowadays in Venezuela they give you the official rate of exchange to the American dollar while at the black market you get about the double of that for cash.

Back to topic, there is no problem at peruvian ATMs. Most of them are affiliated to Visa, Plus, Cirrus, etc. and give you dollars or soles.