Money, money, money: the Peruvian nuevo sol (S/.)

With new foreign destinations comes the need for knowledge on new monies and currencies.  For Sienmi and I, this meant getting to know the Peruvian Nuevo Sol.  How were we to taxi to our hostel or importantly eat?? Motivation led us to research (worth it) the exchange rate of $1 to S/.1

Whoo hoo, turns out for this trip the Nuevo sol is worth a third of the US dollar so our hard earned T.A.'ing money and Target (per diem) dollars would go a little farther:)

                                   $1 USD = S/.2.73 PEN as of June 19, 2013.

We also discovered (via our dependable friend Google) that the best exchange rates are via ATM.  Make sure you pull out of an S. American affiliate bank (free) or know what your bank fee for withdrawal is...

Bank of America - affiliate: Scotia Bank
Wells Fargo - affiliate: none ($5 transaction fee per withdrawal-ouch)

All sources (Google, LonelyPlanet, various websites) all agree that the WORST place to exchange is at the airport so don't do it! Or just get enough for a cab to the ATM lol (our method).

Example:
Lima airport - Interbank exchange: $1 USD = S/.2.45 Nuevo soles PLUS 3% commission
Lima airport - generic money exchange (next to Interbank): $1 USD = S/.2.52

Cusco - Cambista (Street currency exchanger)...actually in a small store on El Sol street
$1 USD = S/.2.71 up to S/.2.74 (best cambio yet!)- score!!!! Apparently slightly better rates than banks.

Casas de Cambio

ATM - haven't tried yet 'cause 2.74 ain't bad at all:D

Side note: Hotels and expensive tourist shops (e.g. alpaca sweater stores) still take major credit cards so don't panic. (Capitol One VISA -no international fees; WellsFargo VISA 3% per transaction)

But lol our hostel only took Nuevos sols as did the street food vendors selling those mouth-watering pork rinds:D