Dollars or soles in Cusco? Where to exchange and when to use each

You’re about to fly to Cusco and you’re wondering: should I bring everything in dollars or change it into Peruvian soles (S/)?

Currency matters for your trip logistics. This Tari Tours guide shows you how to save on fees and which currency to use for tours and for everyday spending.

1. The general rule: soles for everyday spending

For day-to-day spending in Peru, the local currency, the sol (S/), is the only one accepted.

• Where to use soles. Taxis, market purchases, local restaurants (picanterías), craft shops, tips, public restrooms and any small purchase.
• Savings. If you try to pay in dollars at the market or in a taxi, the exchange rate you get is usually poor. Paying in soles always gets you the best price.

2. Dollars: your backup and for big payments

The US dollar is the backup currency and the easiest to exchange, but use it only for large transactions.

• Backup. It’s the best currency to bring from home.
• Hotels and tours. Some agencies (like ours) and mid-range or upscale hotels accept large payments in dollars (or even euros), often at a fair rate.

3. Where and when to exchange money

Exchanging in the wrong place can cost you a few soles.

• Avoid the airport and hotels. The rates there are always the worst and lose you the most money.
• Best option: the exchange houses on Avenida El Sol. This avenue, near the Plaza de Armas, has most of the exchange houses and, as a result, the most competitive rates. Always compare before handing over your money.
• Safety. Don’t exchange with street money changers. Always use formal exchange houses.

4. Credit cards and ATMs

• ATMs. ATMs (Global Net, BCP, BBVA) dispense soles, but they usually charge a withdrawal fee that can be high. Use them only for large withdrawals or as a last resort.
• Cards. Most restaurants and tourist shops accept Visa and Mastercard. Check with your bank about international transaction fees.

Summary

The secret to spending less is using both currencies well: bring dollars, change them into soles on Avenida El Sol and pay for anything small in soles (S/).