Exchange rate at Lima airport
Mar 6, 2014, 4:59 pm
#16
Join Date: Oct 2013
Location: BIL
Programs: Delta FO
Posts: 786
This side trip into airport taxis is actually covered in another current thread. Lets get back to changing money....
The best exchange rates in Lima are offered by the casinos. They use one price to exchange $ to soles and the same price to exchange soles to $. In my most recent time in Lima, last month, spot was 2.82 and the casinos were offering...2.82.
That being said, they are not a public utility. If you buy in and try to cash right out again, they will give you back your original currency. They are small enough that they can see that. But if you buy in, then go to dinner, or put the chips in your pocket and cash out the next day, then you can change quite a large amount. I held several thousand dollars of chips from two of the larger casinos and there were no questions when I cashed them out more than a week later. Of course I had my choice of currency when I cashed out, and they had no idea what currency I had bought in with. I did gamble of course; there might have been questions if I had not.
If you are reluctant to gamble, I would do my buy in at the cage. If you are wanting to change $ to soles, I would buy in for an odd amount, like $1300 instead of $1000, and ask for soles denominated chips. Then I would go to the bathroom, then I would leave the casino. Then I would come back when there was a different employee at the cashiers cage. Voila! The $20 that would have gone to the moneychanger is now in your pocket.
The best exchange rates in Lima are offered by the casinos. They use one price to exchange $ to soles and the same price to exchange soles to $. In my most recent time in Lima, last month, spot was 2.82 and the casinos were offering...2.82.
That being said, they are not a public utility. If you buy in and try to cash right out again, they will give you back your original currency. They are small enough that they can see that. But if you buy in, then go to dinner, or put the chips in your pocket and cash out the next day, then you can change quite a large amount. I held several thousand dollars of chips from two of the larger casinos and there were no questions when I cashed them out more than a week later. Of course I had my choice of currency when I cashed out, and they had no idea what currency I had bought in with. I did gamble of course; there might have been questions if I had not.
If you are reluctant to gamble, I would do my buy in at the cage. If you are wanting to change $ to soles, I would buy in for an odd amount, like $1300 instead of $1000, and ask for soles denominated chips. Then I would go to the bathroom, then I would leave the casino. Then I would come back when there was a different employee at the cashiers cage. Voila! The $20 that would have gone to the moneychanger is now in your pocket.
Mar 11, 2014, 9:26 am
#17
Join Date: Oct 2009
Location: LAS, SMF
Programs: Marriott Plat, Global Entry
Posts: 184
Richard, if you are only changing a small amount, I realize my method takes a little extra time. But better than the banks are those moneychangers wearing colorful vests on the street corners. They are faster as well.
Aug 6, 2014, 4:00 pm
#18
FlyerTalk Evangelist
Join Date: Mar 2000
Posts: 17,423
I have a slightly different money exchange problem: I'll be travelling around Peru, with my last stop Puerto Maldonado before flying to LIM and leaving the country. I think it's going to be hard to get to zero soles before arriving in LIM. If I want to change them back to dollars, what are my options, and how bad will the exchange rate/commission be? Obviously, the more I'd be fleeced at LIM, the more careful I'll be in not accumulating unneeded soles.
Also, I am leaving Peru on a Sunday. I assume that even if I could get to a bank in Puerto Maldonado before heading to the airport, the bank would be closed on Sundays? And I assume it's not a particularly easy transaction to buy dollars at an ordinary Peruvian bank?
Finally, within the Peruvian tourist industry, how easy is it to just pay in dollars for transport and such? I assume the further you get from the beaten tourist track, it is harder? And that you'd wind up paying more if you don't pay in soles?
Also, I am leaving Peru on a Sunday. I assume that even if I could get to a bank in Puerto Maldonado before heading to the airport, the bank would be closed on Sundays? And I assume it's not a particularly easy transaction to buy dollars at an ordinary Peruvian bank?
Finally, within the Peruvian tourist industry, how easy is it to just pay in dollars for transport and such? I assume the further you get from the beaten tourist track, it is harder? And that you'd wind up paying more if you don't pay in soles?
Aug 7, 2014, 6:09 am
#19
Join Date: Jul 2007
Location: Flew over the Equator 55 times last 3 years
Programs: LANPASS Comodoro (Emerald), others
Posts: 2,957
Not sure this is in answer to your question, but there are currency exchange counters always open at LIM. As everywhere, I imagine the rate s*cks, but never done it. Thinking what I'd do? There are stores, probably I'd pop into a travel store in LIM and get something I can use rather than suffer bad exchange rates. Yes, in a pinch you can use dollares, everyone knows the exchange rate, but do negotiate it ahead of time. In general, lots of guys in vests standing at corners to exchange dollares/soles in either direction, at good rates.
Aug 7, 2014, 4:18 pm
#20
Join Date: Nov 2008
Location: ORD
Programs: AA PLT
Posts: 2,781
Depends, but generally yes. There are some places that actually offer rates better than the interbank rate as have long memories and prefer hard cash, but in general you're going to get mildly to moderately ripped off -- some places have exchange rates as low as S./2.50. Cards are accepted fairly widely, so that may be a preferable alternative as well.
Jan 25, 2015, 5:03 pm
#21
Join Date: Jun 2009
Location: Ha Noi, Viet Nam.
Programs: UA 1K M, AA 2 MM PREM, AVIS First, HYATT Explorist, Marriott Lifetime Platinum., Hilton Gold.
Posts: 657
3.01 - $1
Today is exchange rate is S/.3.1 - $1
At the airport, you will be lucky to get S/.2.75 leave alone 3. Most exchange place in Lima should give you min. 3 to 1.
At the airport, you will be lucky to get S/.2.75 leave alone 3. Most exchange place in Lima should give you min. 3 to 1.
Jan 26, 2015, 7:23 am
#22
FlyerTalk Evangelist
Join Date: Mar 2000
Posts: 17,423
It turned out I didn't have many soles when I got back to the LIM airport. I forgot to exchange it before clearing customs. In the departures area, there didn't seem to be any foreign exchange opportunities. So I put the money into pisco. Not great duty-free values there, though. I also bought a bottle of Peruvian wine. I don't recommend you do that -- stick to the pisco. 
Mar 2, 2015, 1:39 pm
#23
Join Date: Oct 2011
Location: Rome-Italy
Programs: AF Flying Blue Platinum ST E+/ AAdvantage Platinum OW SPH/ TK Miles&Smiles Elite *A Gold
Posts: 29
exchange on the streets with the guys on vest. Don't accept anything less than 3.10 per dollar. You can always check the official exchange at xe.com but as usual do get a deal before giving the money. The most dumb thing to do is exchanging specially big sums of money at LIM as the exchanging rate could be as low as 2.75/280.
Enjoy Lima.
Enjoy Lima.