Travelex Online GBP to PEN Travel Money Compared

Currency Guide for Peru (ISO Code: PE)

For travelers planning a one-week mid-range stay in Peru, budgeting around 1,500 to 2,000 PEN (Peruvian Sol) is advisable, covering meals, transportation, accommodation, and recreational activities. Here's a breakdown of typical daily expenses in local currency:

• 🍽️ Meal at a local restaurant: ~20 PEN

• ☕ Coffee: ~6 PEN

• 🚍 Public transport fare: ~2 PEN

• 📱 Prepaid SIM card: ~25 PEN

• 🏨 Budget hotel or Airbnb: ~150 PEN

With these estimates, travelers can anticipate a comfortable experience without breaking the bank, leading to a verdict of Peru being relatively cheap compared to the likes of the United States or the UK. On average, daily expenses in Peru can be 50-70% lower than in the United States and about 30-50% lower than in the UK, allowing visitors to stretch their budget further while exploring the country’s rich culture and diverse landscapes.

For expats settling in Peru, typical monthly living costs average around 3,000 to 4,000 PEN, depending on lifestyle and location. This includes rent for a modest apartment, groceries, utilities, and entertainment. When it comes to banking and card usage, it's generally advisable to use credit or debit cards for larger purchases to avoid carrying cash, especially since many places accept major cards. However, for smaller transactions or local markets, having cash on hand is essential. When considering transferring money, online services like Wise or OFX often offer better exchange rates compared to traditional bank exchanges. It’s frequently more economical to keep some cash in local currency for day-to-day expenses, but for significant transfers, utilizing these online services could help you save on fees and achieve better conversion rates.