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It is important to know where and how to exchange your money to avoid problems during your stay in Cusco.
If you are planning your trip to Cusco, it is important to know where and how to exchange your money to avoid problems during your stay. Although US dollars are accepted in many shops, restaurants and tourist markets, the most practical thing is to use the local currency: it makes your purchases easier and gets you better prices, since the rate offered by small businesses is usually poor compared to exchange offices.
In this article we explain where to exchange dollars in Cusco safely, and how to get the best exchange rate during your trip.
What currency is used in Cusco?
In Cusco, as in the rest of Peru, the official currency is the Peruvian sol (PEN). We recommend carrying soles especially for smaller expenses such as:
Local transport
Purchases in craft markets
Meals in traditional restaurants
Souvenirs and handicrafts
Although some places accept dollars, paying in soles lets you avoid surcharges and unfavourable conversion rates.
Where to exchange dollars in Cusco?
You can exchange dollars in several places, but not all of them offer the same security or the same rate. Here are the best options:
Exchange offices
Exchange offices are the most recommended option for travellers looking for a competitive rate, no commission and a quick transaction. Most of them are around the Plaza de Armas of Cusco and on nearby streets such as Avenida El Sol, Calle Maruri and Calle Mantas.
👉 Tip: compare the rate at several offices before making a large exchange.
Banks
Banks are a safe option, ideal for anyone wanting to exchange large amounts.
Bear in mind that the rate at banks is usually less favourable than at exchange offices; at most banks you will have to queue and the process is a little slower.
👉 The main banks are in the historic centre of Cusco, a few minutes' walk from the Plaza de Armas.
ATMs
ATMs let you withdraw soles directly using your international debit or credit card. They are more convenient, but they charge bank fees and their exchange rate is not always the most favourable, so we recommend checking with your bank before travelling about international withdrawal fees, so you have a reference rate and can compare.
ATMs are located throughout the city and are available 24/7.
Street money changers
In Cusco you will find informal money changers in areas such as Avenida El Sol. Although some may be trustworthy, exchanging money in the street carries risks; for your own safety it is always better to go to official exchange offices or banks.
Tips for exchanging dollars in Cusco
Check the official exchange rate before you exchange. You can look it up on Google as a reference; the rate usually varies slightly (1–2 cents), which is considered a good rate.
Avoid exchanging large amounts at the airport. The rate there is generally the least favourable.
Check the condition of your notes: damaged, torn or written-on bills may be rejected.
Compare options before exchanging a large sum; check several exchange offices to get the best rate.
How much money should you exchange in Cusco?
That depends on your itinerary and travel style. Our recommendation is to exchange an initial amount when you arrive in the City of Cusco to cover your first few days, and then exchange more as you spend. Remember that you do not need to change all your money at once — you will have plenty of opportunities throughout your stay in Cusco.
