Peru currency

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Peru currency

The Nuevo Sol Peruano is the Peruvian currency. Its borns came after the 1929 world crisis. Peru was pushed down into this impasse and it was the origin of Peru’s Banco Central de Reserva. In 1990, in order to stabilize the economy, the Inti, former currency, was substituted with the Nuevo Sol Peruano (PEN). At this moment, the first year of Alberto Fujimori in command, 1 million Intis were equal to 1 Nuevo Sol Peruano.

Nowadays, you can find seven different coins and five bills. A Nuevo Sol Peruano is divided in 100 cents, so they have 5, 10, 20 and 50 cents coins, besides 1, 2 and 5 Nuevo Sol coins. On top of coins, they also have five different bills: 10, 20, 50, 100 and 200 Nuevo Sol.

A Nuevo Sol Peruano is divided in 100 cents, so they have 5, 10, 20 and 50 cents coins, besides 1, 2 and 5 Nuevo Sol coins.

Carrying cash is recommended if you are travelling to Peru. Credit card frauds are common. You should use is just in emergency cases and you should always advise your bank you are in a different country. Big bills are complicated to change; in case you are exchanging money ask for 20 or 50 PEN maximum. Exchange money only in official places and banks, forgery is an usual practice. Bureaus de change are open several hours and often they offer better rate of exchange than banks.

There are establishments that accept US Dolars and it is the easiest currency to exchange.

There are establishments that accept US Dolars and it is the easiest currency to exchange. Euro is also accepter in touristic places. Both are easy to exchange in big cities, but no other currency. Money exchanger are easy to find close to banks, bureaus de change and in the borders. They have to wear a vest with an identification badge.

High and medium price hotels accept card payment with a 7% commission. It is usual that banks also charge the payment with foreign currency. Visa and MasterCard are the most accepted cards in Peru.

Few hotels add a 19% Tax on General Sails plus a 10% service taxes. The same with restaurants they use to charge a 19% and a 10% tip service. In case this 10% doesn’t appear on the bill, you can put it by your own. People like tike drivers doesn’t expect tipping, unless they carry heavy baggage, but porters and guides expect it.