Currency of Peru

officially, The currency of Peru is the Peruvian Nuevo Sol (S/). Previously, the currency was simply called "Sol", but in 2015 a new series of banknotes and coins was introduced with the name "Nuevo Sol". However, both terms are used interchangeably today.

The Peruvian Nuevo Sol is divided into céntimos, with coins of 10, 20 and 50 céntimos, and banknotes of 10, 20, 50, 100 and 200 soles. The banknotes and coins have designs that represent Peru's rich culture and biodiversity, with images of historical characters, archaeological sites, animals and native plants.

It is important to note that in some tourist areas or in commercial transactions, the U.S. dollar is accepted as a form of payment. However, it is advisable to carry local currency to facilitate transactions in most places.

If you plan to visit Peru, I suggest you check the current exchange rate before your trip to get an idea of the equivalence between your local currency and the Peruvian Nuevo Sol.

What is the best way to convert my local currency into Peruvian Nuevo Sol in Peru?

The best way to convert your local currency into Peruvian Nuevo Sol in Peru is through authorized exchange houses or by using ATMs. Here I explain both options:

1. Authorized exchange houses: In Peru, you will find authorized exchange houses in airports, hotels, shopping malls and tourist areas. These exchange houses offer competitive exchange rates and allow you to convert your local currency into Peruvian Nuevo Sol. It is advisable to compare exchange rates at different exchange houses before making the transaction to get the best deal.
2. ATMs: ATMs are widely available in Peru, especially in urban and tourist areas. You can use your debit or credit card to withdraw Peruvian Nuevo Sol directly from ATMs. Be sure to inform your bank about your trip to Peru and check if there are any fees for international withdrawals. Please note that daily withdrawal limits may vary depending on your bank and ATM network.

It is important to note that it is advisable to carry a combination of local and foreign currency (preferably U.S. dollars) for your expenses in Peru. U.S. dollars are widely accepted in many tourist areas and commercial establishments in Peru. However, for everyday transactions, such as shopping in local markets or small establishments, you may need Peruvian Nuevo Sol.

Remember to keep your currency exchange receipts and verify the applicable rates and commissions before making any transactions.

What are the daily withdrawal limits at ATMs in Peru?

Daily withdrawal limits at ATMs in Peru may vary by bank and time of day. Here are some examples of daily withdrawal limits at different banks in Peru:

• BBVA: According to available information, the daily withdrawal limit at BBVA is S/3,000 or $800 during the day (from 6:00 a.m. to 10:00 p.m.) and S/500 or $200 during the night (from 10:01 p.m. to 5:59 a.m.).
• Interbank: At Interbank, during the day (from 6:00 a.m. to 11:59 p.m.), the daily withdrawal limit is up to S/2,500 or $800 maximum. During the night (from 12:00 a.m. to 5:59 a.m.), the limit decreases to S/850 or $480.
• Scotiabank: According to available information, the daily withdrawal limit in Scotiabank is $800 or the equivalent in soles at the exchange rate of that day.

It is important to note that these limits are indicative and may be subject to change. I would recommend checking with your specific bank for updated information on daily withdrawal limits at ATMs in Peru.

¿Are there any restrictions on the amount of foreign currency I can bring to Peru?

Yes, there are restrictions on the amount of foreign currency you can bring into Peru. According to the regulations of the Central Reserve Bank of Peru, travelers entering or leaving the country must declare whether they are carrying an amount equal to or greater than US$10,000 (or its equivalent in other currencies) in cash, traveler's checks or other monetary instruments.

If you are carrying an amount equal to or greater than this limit, you must complete a declaration of entry or exit of foreign currency to the customs authorities.

It is important to keep in mind that, although there are no specific restrictions on the amount of foreign currency you can carry, you must take into account the regulations and limits established by your country of origin regarding the amount of currency you can take out of the country.

In addition, it is advisable to carry a combination of local currency (Peruvian Nuevo Sol) and foreign currency (preferably U.S. dollars) for your expenses in Peru. U.S. dollars are widely accepted in many tourist areas and commercial establishments in Peru.

If you have any questions or need more information about customs and foreign currency regulations in Peru, I would recommend consulting with the Peruvian embassy or consulate in your home country.

What is the limit of foreign currency I can bring into Peru without having to declare?

The limit of foreign currency that you can bring into Peru without having to declare is up to US$10,000 (or its equivalent in other currencies) in cash, traveler's checks or other monetary instruments.

If you carry an amount equal to or greater than this limit, you must complete a declaration of entry or exit of foreign currency to the customs authorities.

It is important to note that these limits are subject to change and it is advisable to check updated customs regulations prior to your trip.

In addition, it is important to be aware of the regulations and limits set by your home country regarding the amount of currency you can take out of the country.

If you have any doubts or need more information about customs and foreign currency regulations in Peru, I would recommend you to consult with the Peruvian embassy or consulate in your home country.