The currency of Peru is the Sol (S/). A Sol is divided into 100 cents (cents). There are currently 200, 100, 50, 20 and 10 Nuevos Soles bills; while there are also 1, 2 and 5 Nuevos Soles coins and 50, 20, 10 and 5 cents.
There are no restrictions for changing currency in Peru. US dollars are commonly accepted in most hotels, stores and supermarkets in Lima and in the main cities in the country. Visitors are advised to exchange money in banks, because they offer more security and guarantees.
Avoid street moneychangers as they do not provide guarantees, despite of the fact that many of them are registered in municipalities in many districts of Lima.
Visitors should bear in mind that it is very difficult to change currencies other than the US dollar.
Visitors coming to Peru should note that all goods and services are taxed at 18% (IGV). Likewise, restaurants and hotels add a service fee of 10%.
By law of the Peruvian state, all merchants have the obligation to show the customer the final price, in which taxes are included. On the other hand, tourist packages contracted outside the country are exempt from taxes.