US dollars are very popular currency in Peru. Even salary was paid in USD instead of Peruvian soles (probably because of inflation).
What is the best way/place to change dollars to soles?
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Although the official currency of Peru is
sol, US dollars are widely accepted in many places.
I found out three ways to exchange dollars into soles:
I heard that casinos, which are almost at every corner in Lima, exchange in the same way as supermarkets, and have even better rates.
It depends on the location in Peru, but from my trip there:
The other posts give great places to change money. But be aware that there are a fair number of counterfeit notes in Peru (and other South American countries). You will often see locals holding the money upto the light and feeling it to check for fakes. The fakes here can be very good - even having watermarks and that metal thread thing. I have seen several during my stay in Peru in 50 and 100 sole values usually but also in 10s and 20s. (Coins too). It is not easy to spend fake bills if you do get them (and is illegal to do so).
So I recommend checking for counterfeit notes when ever you change money or even just get change. Here are things to look for:
Counterfeit dollars exist here too in case you every change soles back into dollars.
I think it is more likely to get stiffed by more informal money changers, so take that into account when comparing rates.