USD to PEN: A Complete, Practical Guide for Travelers in Peru

Changing U.S. dollars (USD) to Peruvian soles (PEN) is essential for everyday expenses in Peru. While cards and even USD are accepted in some tourist services, you’ll want soles for taxis, markets, tips, local tickets, and small shops. This guide shows you where to exchange, how to compare rates, and what to avoid—so you get a fair deal with zero headaches.

Quick Start (30 seconds)

Best places: licensed exchange houses and regulated digital exchangers; banks come next.
Avoid: airport counters (weak rates) and street exchanges (risk).
Pay in PEN for daily expenses; keep USD for hotels/tours if accepted, and one card for bigger payments.
Pro tip: bring clean USD bills; ask for small PEN notes (10/20/50) for daily use.

Where to Exchange USD → PEN

Exchange houses (top value): competitive rates in tourist/financial areas (Miraflores in Lima; Av. El Sol in Cusco; Mercaderes in Arequipa). Compare 2–3 quotes and choose the best buy rate.
Banks (safe, mid-rate): BCP, Interbank, BBVA, Scotiabank—great security, shorter hours, usually lower rates than exchange houses.
Digital exchangers: regulated platforms for account-to-account swaps; convenient if you have a Peruvian bank account or if your provider accepts this method.
ATMs: withdraw PEN directly; check international and local ATM fees; prefer machines inside banks/malls.
Airports: use only for a small amount (transfer fare), then exchange more in the city.

Reading the Rate (and Saving Money)

You’ll see Buy (what they pay for your USD) and Sell (what they charge if you buy USD).
You want the highest Buy rate.

Example: Buy = 3.75. Exchanging USD 300 → 300 × 3.75 = S/1,125.
If another place buys at 3.78, you’d get S/1,134—S/9 more just by comparing.

Checklist: confirm the exact rate, ask about fees (usually included), and keep the receipt.

Safety & Bill Check

Never exchange on the street.
Inspect PEN bills: watermarks, security threads, intact condition.
Don’t accept damaged notes; keep money discreet and split cash from your passport and cards.

Paying in USD or by Card

Some hotels/tour agencies accept USD; always confirm first.
Markets, taxis, and small shops: PEN only.
Cards are widely accepted in cities; some places add a 2–5% fee for foreign cards.
Keep cash in PEN for small, daily expenses.

Practical Denominations

Ask for S/10–S/20–S/50 for daily use; a few S/100 for larger payments. Avoid worn or taped bills.

When to Exchange

Airport: only a small amount; get the rest in the city.
Peak seasons/holidays: compare quickly and decide.
If the rate improves, exchange more; if it worsens, do smaller tranches.

Common Mistakes

Exchanging everything at the airport.
Accepting damaged bills.
Not comparing rates.
Carrying all money together.
Not asking for change in small notes.
Skipping the receipt.

City Pointers (orientation)

Lima: Miraflores (Av. Larco / Kennedy Park), San Isidro.
Cusco: Av. El Sol, Plaza de Armas, Maruri.
Arequipa: Mercaderes, near the main square.
Puno: downtown/Jr. Lima area.

Wallet Strategy

Day 1–2: exchange enough for transport/food.
Next days: top up based on real spending.
Keep one card for big payments and USD backup for flexibility.

FAQs

Best place? Licensed exchange houses (compare at least 2–3).
Negotiate the rate? Sometimes, for larger amounts.
How much to exchange on arrival? Enough for transfer + first meal + buffer.
USD or cards only? Bring both; use PEN for daily life.
Leftover soles? Reconvert to USD at an exchange house; keep your receipt.

Conclusion

Exchanging USD to PEN in Peru is straightforward: choose formal providers, compare rates, check bills, and keep receipts. With a simple mix—card for big items, USD as backup, and PEN for everyday purchases—you’ll travel comfortably, get better value, and enjoy Peru with peace of mind.