If you’re planning a trip to Cusco, it's essential to know where to exchange dollars for soles safely and at the best rates. In this complete guide, we’ll explain the best exchange houses, banks, and secure options to get the best exchange rate in the imperial city. Plus, we’ll provide practical tips to avoid high fees and make the most of your money during your stay in Peru.
While some tourist places accept US dollars, most businesses, restaurants, markets, and services in Cusco only operate with Peruvian soles (PEN). Here are some reasons why exchanging your dollars for soles is beneficial:
✔ You’ll avoid unfavorable exchange rates in shops and hotels.
✔ You can pay in cash without relying on credit cards (some charge foreign transaction fees).
✔ It makes payments easier for transport and local markets, where only soles are accepted.
Cusco offers several safe and convenient options for currency exchange. Here are the best ones:
Exchange houses (casas de cambio) offer some of the best exchange rates without additional fees. They are a quick, reliable, and accessible option for exchanging dollars for soles in Cusco.
🏠 Avenida El Sol: Just one block from Plaza de Armas, this avenue is home to many exchange houses with competitive rates and guaranteed security.
🏠 Historic Center: Around Plaza de Armas, you’ll find multiple options with good exchange rates.
🏠 San Blas Neighborhood: Some exchange houses in this tourist area offer competitive rates, but it's best to compare before exchanging.
✅ Tips for exchanging at currency exchange houses:
✔ Compare at least three exchange houses before making a transaction.
✔ Verify that the establishment is officially authorized.
✔ Avoid exchanging large amounts in a single transaction.
Peruvian banks also offer currency exchange services, though their rates are usually less favorable than exchange houses.
🏦 Banco de la Nación
🏦 BCP (Banco de Crédito del Perú)
🏦 Interbank
🏦 Scotiabank
🏦 BBVA Continental
✅ Pros of exchanging at banks:
✔ More security and financial backing.
✔ Avoid counterfeit bills.
❌ Cons:
✔ Generally, they offer a less competitive rate than exchange houses.
✔ Long wait times, as you may need to queue and show your passport.
✔ Possible additional fees.
If you prefer not to carry large amounts of cash, you can withdraw soles directly from ATMs in Cusco.
✅ Tips for using ATMs in Cusco:
✔ Use ATMs inside banks or shopping centers for greater security.
✔ Check if your international bank has agreements with local banks to reduce fees.
✔ Ask about foreign withdrawal fees before using your card.
🚨 Avoid ATMs in isolated or low-traffic areas.
📅 Recommended Days:
✔ Monday to Friday, when banks and exchange houses are open and offer more competitive rates.
📌 Avoid exchanging money on weekends or holidays, as rates tend to be less favorable and some establishments may be closed.
Exchange rates fluctuate daily, but on average, 1 USD equals between 3.60 and 3.80 Peruvian soles (PEN).
| Option | Advantages | Disadvantages |
| Currency Exchange Houses | Best rates, fast, no fees | Risk of counterfeit bills in unofficial places |
| Banks | More security, no risk of fake bills | Lower rates, long lines, possible fees |
| ATMs | Convenient and accessible | Banking fees, daily withdrawal limit |
✔ Check exchange rates on Google before exchanging money.
✔ Compare rates at banks and exchange houses.
Exchange houses on Avenida El Sol and Plaza de Armas usually offer the best rates.
Yes, as long as you do it at banks or official exchange houses. Avoid street vendors or unauthorized money changers.
Some hotels and tourist shops accept US dollars, but most businesses only take Peruvian soles.
It’s recommended to carry between $100 and $200 in soles for daily expenses and use a credit/debit card for larger purchases.
Check various exchange houses on Avenida El Sol and the Historic Center before making an exchange.
✔ Avoid exchanging money at airports or hotels, as their rates are usually less favorable.
✔ Always check the daily exchange rate before exchanging money.
✔ Count your money before leaving the establishment to avoid mistakes.
✔ Use bills in good condition, as damaged ones might be rejected.
✔ For large amounts, consider using banks or well-reviewed exchange houses.
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