The Nuevo Sol (S/.) is the currency of Peru (PEN = International code for the Peruvian currency). It is subdivided into 100 Centimos. There are banknotes for S/. 10,-, S/. 20,-, S/. 50.-, S/. 100.- and S/. 200.-. Coins have been issued for 1 Centimo, 5 Centimos, 10 Centimos, 20 Centimos, 50 Centimos, S/. 1.-, S/. 2. - and S/. 5.-. However, almost everywhere the US Dollar is accepted and mostly you will get a good exchange rate in shops and restaurants

In many supermarkets the exchange rate will be very good.

Basically you should check every banknote and coin for its authenticity when exchanging money. The same should be considered when receiving change (Soles, US Dollars…). If you are not familiar with US Dollars got to the web site of the ‘United States Department of the Treasury’ (www.moneyfactory.com). You will find here material describing all banknotes and their security features.

A good overview of the Peruvian banknotes comes later in this chapter (with pictures). Of course never accept counterfeit money and if there is only the smallest doubt, rather ask for another banknote or coin. Always take your time and count / examine your money carefully. Many unserious money-changers will try to put you in a rush to earn some more Soles, especially with a tourist. Avoid accepting 200.- Soles banknotes. These are hard to get rid off. Finally don’t accept damaged banknotes (torn or even repaired). No one will accept them. Again, rather ask for another.

Always be sure to have enough change (coins) in the pocket. Particular taxi drivers can’t or don’t want to change. Already 10.- Soles can be a problem – Hoping to keep the change (!). But often smaller shops or kiosks don’t have enough change. ‘Magic coins’ are 50.- Centimos and 1.- Sol. Euros and US Dollars can be changed in Lima without restrictions in banks, hotels, in exchange offices and also on the street. Expect high fees and a bad exchange rate when cashing Traveller Cheque's.

The safest way to change money is in banks and your hotel, but this will result in much lower rates compared to exchange offices and the money-changers on the street (If you are changing Euros, check the banks - the rates there might be higher...)! If possible try to avoid changing money at the airport, because the rate is one of the lowest we have discovered in Lima. When there is absolutely no other chance, only swap the absolutely necessary. Taxis from the airport can be paid in US Dollars (again make sure to have enough small change for this purpose).

Good exchange rates can be achieved with money-changers on the street. But as with all ‘street deals’ in Peru don’t forget to bargain. The exchange rates will vary depending on the amount you are willing to change (Info: Rates will be slightly lower on the weekends). When changing money on the street, remember to keep a watchful eye on your surroundings.

The money-changes (called ‘Cambistas’) can be found literally everywhere (where tourists are). Those ones officially registered with the municipality wear colour coded vests (each district has a different colour) with a ‘$’ sign / EURO written on the back and have proper identification documents.

Don’t let anybody disturb your transaction.

Don’t get distracted by a little chat with the ‘Cambistas’.

In some places you'll find Cambistas with the additional writing 'Rotos' ('broken') on the back of their vests. In case you have damaged banknotes, they'll swap them for a fee...

Always check for counterfeit money. Tourists are popular victims to circulate phoney notes. There is even quite a lot of faked 2.- Soles and 5.- Soles coins going around! Look at the coins, because some ‘Cambistas’ might accidentally (!) give you a 2.- instead of a 5.- Soles coin. Quickly your better exchange rate can turn to the opposite. We recommend the exchange of currency in one of the many exchange offices (called ‘Casa de cambio’). You’ll get a fair rate, but compare to find the best deal. Some places give better rates for Dollars then Euro and vice versa. In every good exchange office you can make the transaction at ease and comfort.

So now the decision is yours…

Do you know the background and history of the pictures on the banknotes for your country? In Peru you won’t find any pictures of former presidents on them, but rather some of the famous personalities which are all part of our extensive history. This is why such a banknote doesn't only stand for the pure nominal value, but also passes on culture. In this chapter we would like to introduce our money and give you a short explanation of the illustrations.

The 'Banco Central de Reserva del Perú (BCRP)' has issued new banknotes that contain besides the standard security features, like watermark and security stripe, other characteristics that should hopefully protect against forgeries:

• On the security stripe that is recognizable with ‘back-light’ you can find the markings: ‘PERU’ and the declaration of value (e.g. 10, 20…).

• In the middle of the banknote is a new shimmering band on which you can see the letters ‘BCRP’ and the value of the bank note.

• The declaration of value on the right side of the bank note is printed with a special ink and method. You'll see the colour change while moving the banknote back and forth.

Older banknotes without these new features have additionally some small glittering chips in the middle of the note (after a while they tend to come off. They are only attached to the paper, NOT printed on!). When you are brave enough, a quick pull on both sides of the note - at the same time - should reveal whether the money is fine (if it tears, it's fake – or you've just pulled too much!).

Look at the pictures below…

Peru has had three monetary systems. The first one is the Sol (Spanish word for sun) or Soles (plural). In the 80's Peru changed to the Inti. In 1991 Peru changed its monetary system again to replace the highly inflated Inti with the Nuevo Soles at a rate of 1 Nuevo Sol = 1,000,000 Intis. The return to this name is considered appropriate as it could be derived from historical use and divination of the sun as a symbol of power and as a way of connecting the new currency to the old Inti, which was named after Inti, the Sun God of the Incas. In the little gallery below we have collected some pictures of old banknotes dated from 1879 to 1990.