Peru - Lonely Planet Publications [450]
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A NOTE ABOUT PRICES
Prices in this guidebook are generally listed in Peruvian nuevos soles. However, many higher-end hotels will only quote prices in US dollars; likewise for many travel agencies and tour operators. Therefore, prices in this book are generally listed in soles, except in cases where a business quotes its costs in dollars.
Both currencies have experienced fluctuations in recent years, so expect many figures to be different from what may be printed in the book.
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Changing Money
Carrying cash enables you to get the top exchange rates quickly. The best currency for exchange is the US dollar, although the euro is increasingly accepted in major tourist centers. Other hard currencies can be exchanged, but usually with difficulty and only in major cities. All foreign currencies must be in flawless condition.
Cambistas (money-changers) hang out on street corners near banks and casas de cambio and give competitive rates (there’s only a little flexibility for bargaining), but are not always honest. Officially, they should wear a vest and badge identifying themselves as legal. They’re useful after regular business hours or at borders where there aren’t any other options.
Credit Cards
Many top-end hotels and shops accept tarjetas de crédito (credit cards) but usually charge you a 7% (or greater) fee for using them. The amount you’ll eventually pay is not based on the point-of-sale exchange rate, but the rate your bank chooses to use when the transaction posts to your account, sometimes weeks later. Your bank may also tack on a surcharge and additional fees for each foreign-currency transaction.
The most widely accepted cards in Peru are Visa and MasterCard, although American Express and a few others are valid in some establishments, as well as for cash advances at ATMs. Before you leave home, notify your bank that you’ll be using your credit card abroad.
Taxes, Tipping & Refunds
At Peruvian airports, international (boxed text, Click here) and domestic (boxed text, Click here) departure taxes are payable in US dollars or nuevos soles (cash only). Expensive hotels will add a 19% sales tax and 10% service charge; the latter is generally not included in quoted rates. Non-Peruvians may be eligible for a refund of the sales tax only (Click here). A few restaurants charge combined taxes of more than 19%, plus a service charge (servicio or propina) of 10%. At restaurants that don’t do this, you may tip 10% for good service. Taxi drivers do not generally expect tips (unless they’ve assisted with heavy luggage), but porters and tour guides do. There is no system of sales-tax refunds for shoppers.
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FUNNY MONEY Rafael Wlodarski
Counterfeiting of both US and local-currency bills has become a serious problem in Peru. Merchants are extremely careful about accepting large-denomination notes; you should be, too. Everyone has their own technique for spotting a fake – some can feel the difference in paper quality, while others will sniff out counterfeit ink. You should look for a combination of signs; new forgeries simulate some security features, but never all of them. Politely refuse to accept any worn, torn or damaged bills, even small-denomination notes, since many businesses will not accept these.
Watch out for the following issues:
Check the watermark – most fake bills have these, but real bills will have a section where the mark is made by discernibly thinner paper.
The writing along the top of the bill should be embossed – run your finger to see that it is raised from the paper and test the back for an impression.
The line underneath this writing is made up of tiny words – if it’s a solid line, then it’s a fake.
The value of the bill written on the side should appear metallic and be slightly green, blue, and pink at different angles – fake bills are only pink and have no hologram.
The metal strip running through the note has the word ‘Peru’ repeatedly written along its length in tiny letters when held up to the light – fake bills