Money in Peru: Soles, Dollars, Cards and Tipping
Peru's currency is the sol (S/, code PEN). Pay in soles for almost everything, keep some clean US dollars for tours and hotels that price in dollars, and use a credit card where one is accepted. Withdraw soles from bank ATMs in cities, since the islands and the trails have none, and tip in soles, in cash.
In this guide
Short answer: Peru's currency is the sol, written S/ with the code PEN and divided into 100 céntimos. Pay in soles for almost everything, carry a few clean US dollar bills for the hotels and agencies that price in dollars, and use a Visa or Mastercard in hotels, better restaurants and shops in Lima and Cusco. Withdraw soles from bank ATMs in the cities before you go to the lake, the trails or the islands, which have none. Tip in cash, in soles.
The currency: soles, notes and coins
The sol has been Peru's money since 1991, and it has been one of the steadier currencies in South America, trading between about S/2.2 and S/4.1 per US dollar over its whole life (Wikipedia, as of October 2026). Check the day's rate on the central bank's site or any currency app before you fly. For rough budgeting, one dollar buys a bit more than three soles, so a S/35 lunch is roughly US$10 and a S/150 hotel room is roughly US$45.
Banknotes come in S/10, S/20, S/50, S/100 and S/200. The central bank (BCRP) replaced the whole series between 2021 and 2023 with new designs: Chabuca Granda on the S/10, José María Arguedas on the S/20, María Rostworowski on the S/50, Pedro Paulet on the S/100 and Tilsa Tsuchiya on the S/200, each with an animal and a plant on the back. The older notes with other portraits remain legal tender, so expect both in your change. Coins are 10, 20 and 50 céntimos and S/1, S/2 and S/5. The S/2 and S/5 coins look alike at a glance, so read the number.
The S/200 note is rare and often refused by small shops that cannot change it. Ask the ATM or the exchange house for S/50 and S/20 notes, and keep a pocket of S/10 notes and coins for taxis, markets, bathrooms and tips. Running out of small change is the most common money problem on our trips, more than any fee.
Dollars or soles?
Both, in different pockets. Soles pay for taxis, markets, local restaurants, buses, museum tickets, bathrooms, snacks and tips, which is to say most of your day. US dollars are accepted by many hotels, tour agencies and some upscale restaurants, usually at a rate written on the wall, and our own prices are quoted in dollars because that is what American guests budget in. Carrying US$200 to US$300 in cash as a reserve is sensible. Carrying all your money in dollars and changing it bit by bit is not: the rate you get at the counter is always worse than paying in soles from an ATM.
Dollar bills have to be clean. Peruvian banks and exchange houses refuse notes that are torn, taped, heavily creased, written on or marked, and shops follow them. Bring crisp bills from your own bank, newer series, and keep them flat in an envelope. A worn US$100 that any store in Ohio would take is worth nothing in Puno. The same care applies in reverse: refuse any sol note that is torn or looks washed, because you will not be able to pass it on.
Cash or card, by place
Lima and the center of Cusco run on cards. Hotels, chain supermarkets, pharmacies, restaurants with printed menus and tour agencies take Visa and Mastercard, with American Express accepted less often and Discover rarely. Contactless and phone wallets work in most of those places. Expect a card surcharge of a few percent in some agencies and small hotels, which should be stated before you pay.
Everywhere else is cash. The San Pedro market in Cusco, the stalls at Pisac and Chinchero, the horse owners at Rainbow Mountain, the families on the Uros islands and on Amantaní, the bathroom at the La Raya pass, taxis, the bus terminal snack bars and most restaurants in Puno and Aguas Calientes want soles in hand. Treks are the same: once the van leaves Cusco there is nothing to buy with a card until you return. The rule we give guests is to leave the city with the soles you need for the whole excursion plus a cushion of S/100.
The one place to be careful with a card is the independent ATM in a shop or hotel lobby. Use ATMs inside or attached to a bank branch, in daylight, and cover the keypad. The Government of Canada's travel advice for Peru (updated September 11, 2026) warns that card skimming and express kidnappings tied to ATM withdrawals occur, and that ATMs are scarce outside the main cities with daily withdrawal limits.
ATMs: fees and limits
Bank ATMs in Lima, Cusco, Puno and Arequipa dispense soles and, at many machines, US dollars, from US cards on the Visa, Mastercard, Plus and Cirrus networks. Three things eat into every withdrawal: the Peruvian bank's own fee for foreign cards, your US bank's foreign transaction and ATM fees, and the rate. The local fee appears on screen before you confirm and, by the tally of travel sites that track it, ran between about S/18 and S/36 per withdrawal at the big commercial banks in recent checks, with Banco de la Nación, the state bank, charging no local fee to foreign cards at the time of those checks (secondary sources, not confirmed with the banks). Limits per transaction are commonly S/400 to S/700, with a higher daily cap, which is why you may need two withdrawals for a week of cash.
Two habits save real money. First, when the machine offers to convert the amount to dollars, decline: choose to be charged in soles and let your own bank do the conversion, which is nearly always the better rate. Second, open an account with a US bank that refunds ATM fees worldwide before a long trip, since the fees add up over three weeks. Tell your bank the travel dates so the first withdrawal in Cusco is not blocked.
Exchange houses and street changers
Exchange houses (casas de cambio) in Lima's Miraflores, around Cusco's Plaza de Armas and on Puno's Jirón Lima change clean dollars at fair rates with no commission, and they are our pick for turning your reserve dollars into soles. Hotels change money at a worse rate for convenience. Street changers with calculators and vests exist in every city and are legal, but counterfeit notes and sleight of hand with the count happen, so we steer guests to the counters. Count your soles before you leave the window, whichever window it is.
Tipping in Peru
Tipping is expected in tourism, in smaller amounts than in the United States, and always in cash. Peruvians themselves tip little outside restaurants, and there is no tipping on taxis or in shops. What follows is our own practice as an agency, not a national rule, and nobody will scowl if you give less. The table below has the amounts we suggest to guests who ask.
| Who | What we suggest | How |
|---|---|---|
| Restaurant with a printed menu | 10 percent if no service charge is on the bill, nothing extra if servicio is already added | Cash on the table, soles |
| Small local restaurant or market stall | Not expected, round up if you like | Coins |
| Day tour guide | US$5 to US$10 per person | Soles or dollars, at the end of the day |
| Day tour driver | S/10 to S/20 per person | Soles, at drop-off |
| Trek guide (Inca Trail, Salkantay, Lares) | Ask the group norm, usually a pooled amount from the group for the whole trek | Soles, on the last night |
| Porters, cook and muleteers | Pooled by the group and handed to the head porter or cook in front of the crew | Soles only, on the last night |
| Hotel porter and housekeeping | S/3 to S/5 per bag or per night | Coins or small notes |
| Taxi and ride app drivers | No tip expected | Pay the agreed fare in small notes |
| Island families and ceremony hosts | Paid through the tour, so buy a craft rather than tipping | Soles, cash |
Restaurants: look for a service charge on the bill, usually 10 percent and labeled servicio, in tourist restaurants in Lima and Cusco. If it is there, nothing more is needed. If it is not, 10 percent in cash is generous and 5 percent is normal. Small local restaurants and market stalls do not expect a tip. Hotel porters and housekeeping get a few soles per bag or per night, and the better hotels leave an envelope.
Guides and drivers: on a day tour, US$5 to US$10 per person for the guide and S/10 to S/20 for the driver is what most of our guests give. On a multi-day trek, the crew matters more than any guide: porters on the Inca Trail and muleteers on Salkantay carry your gear and cook your meals for days, and the group usually pools a tip for them on the last night, handed to the head porter or the cook in front of the crew, with a separate amount for the guide. Ask your guide what the group norm is, and give it in soles, because porters live in villages with no exchange houses.
Community visits: on the islands of Lake Titicaca and at ceremonies, the families are paid through the tour, and the right gesture is to buy something they make rather than to hand over cash. A woven belt from Taquile or a reed model from the Uros goes further than a tip, and the money reaches the same hands.
Counterfeits, change and other small traps
Fake S/50 and S/100 notes circulate, and Peruvians check big notes by feel and by holding them to the light for the watermark and the security thread. Do the same, and do not accept a torn or taped note in change. Taxi drivers rarely carry change for a S/100, so pay rides with S/10 and S/20 notes. Keep a few S/1 coins for public bathrooms, which charge S/1 to S/2 almost everywhere. If a shop says no hay sencillo, there is no small change, it means it: that is your cue to pay with coins or buy something else.
How our prices work
Everything we sell is priced in US dollars, per person, with the inclusions listed on each page, so you can budget from home without a rate in your head. Our hub for Peru tours with prices in US dollars lists every trip, and each package page spells out what is not included so you know how many soles to carry on the day: tips, extra meals, the horse at Rainbow Mountain, the reed boat at the Uros. The entry requirements guide covers the hotel tax break for foreign tourists, which affects what a room costs you, and the Cusco altitude guide is the other thing to read before you pack your wallet.
| Fact | Value |
|---|---|
| Currency | Peruvian sol, S/, code PEN, 100 céntimos |
| Banknotes | S/10, 20, 50, 100 and 200, with a new series issued 2021 to 2023 and the older series still legal tender |
| Coins | 10, 20 and 50 céntimos, S/1, S/2, S/5 |
| Exchange rate | between about S/2.2 and S/4.1 per US dollar since 1991. Check the day's rate at the BCRP |
| Cards | Visa and Mastercard in hotels, better restaurants, shops and agencies in Lima and Cusco, cash everywhere else |
| ATM local fee for foreign cards | about S/18 to S/36 per withdrawal at the big commercial banks, none at Banco de la Nación, in recent third-party checks |
| ATM limit per transaction | commonly S/400 to S/700 |
| Cash declaration | above US$10,000 or equivalent, on arrival and departure |
| Tipping | expected in tourism, in cash, smaller than US amounts, see the table |
Sources
- Peruvian sol, Wikipedia (code, coins, the 2021 to 2023 banknote series, exchange rate range since 1991)
- Banco Central de Reserva del Perú, new family of banknotes
- Banco Central de Reserva del Perú, daily exchange rate
- Government of Canada, Travel advice and advisories for Peru (updated September 11, 2026): currency, ATMs, cash declaration, express kidnappings
Questions people ask
What is the currency of Peru?
The Peruvian sol, written S/ with the ISO code PEN, divided into 100 céntimos. Notes come in S/10, S/20, S/50, S/100 and S/200, with a new series issued between 2021 and 2023 and the old series still valid. Coins are 10, 20 and 50 céntimos and S/1, S/2 and S/5. Over its life since 1991 the sol has traded between about S/2.2 and S/4.1 per US dollar.
Should I bring dollars or soles to Peru?
Both. Pay daily expenses in soles withdrawn from bank ATMs in Lima, Cusco or Puno, and carry US$200 to US$300 in clean, crisp dollar bills as a reserve for hotels and agencies that price in dollars. Do not bring torn, taped or marked bills, because banks and shops refuse them. There is no need to buy soles in the United States before you fly.
How much do you tip a tour guide in Peru?
Our guests usually give US$5 to US$10 per person to a day tour guide and S/10 to S/20 to the driver. On a multi-day trek the group pools a tip for the porters, cook and muleteers on the last night, handed to the head porter in front of the crew, with a separate amount for the guide. These are our suggestions, not a rule, and always in cash.
Do you tip in restaurants in Peru?
Check the bill first. Tourist restaurants in Lima and Cusco often add a 10 percent service charge labeled servicio, and nothing more is expected. If there is no charge, leave 5 to 10 percent in cash. Small local restaurants and market stalls do not expect a tip. Taxis are never tipped.
Can I use my credit card in Peru?
Yes, in hotels, restaurants with printed menus, supermarkets, pharmacies and tour agencies in Lima, Cusco and the larger towns. Visa and Mastercard work almost everywhere a card is taken, American Express less often. Markets, taxis, small restaurants, the islands of Lake Titicaca, Aguas Calientes stalls and anything on a trek are cash only. Tell your bank your travel dates first.
Are there ATMs in Cusco and Puno?
Yes, at bank branches around the Plaza de Armas in Cusco and along Jirón Lima in Puno, dispensing soles and often dollars. Expect a local fee per withdrawal at the big commercial banks and a limit per transaction, commonly S/400 to S/700. Use machines attached to a bank in daylight, decline the on-screen conversion to dollars, and withdraw what you need before leaving for the islands or a trek.
Is it safe to exchange money on the street in Peru?
Street changers are legal and common, but counterfeit notes and short counts happen. We send guests to exchange houses, the casas de cambio near the main squares, which change clean dollars at fair rates with no commission. Count the soles at the window before you walk away, and check large notes for the watermark and security thread.
This guide was last reviewed in October 2026. Prices, rules and timetables are quoted with the date we checked them.