Exchanging US dollars in Lima

My wife and I will be visiting Lima this July and were wondering where the best place is to exchange money. Best meaning favorable exchange rate, while avoiding the risk of getting any counterfeit bills. Finally, are new $100's the US bill of choice?

Travellers do not carry cash. They withdraw local money from ATMs.

Jorge Daniel Barchi.
Buenos Aires.

Some new 50$ may be rpeferrable to100$ because the rate of counterfeits is hughest among the 100$.

The best money changers are in the side street at the right side of Gran Hotel Bolivar, on Plaza San Martin.
Some of them have been there for 30 years or more.

I carry cash, probably more than I should. I also withdraw $ from the ATMs - try Banco Continental (a/k/a "B24"). The street moneychangers ("cambistas") on Ave Larco in Miraflores give a better exchange rate than the banks, as they have no overhead. They all seem to work for the same consolidator, so they should offer the same exchange rate. However, it seems that the cambistas hanging out in front of the casino offer a lower rate to the innumerate saps who patronize the place, so get a few quotes. The cambistas have photo I.D.'s and have their names stenciled on their blue vests. I always count and scrutinize my soles before handing over my $. Most cambistas have their own unique chop mark, which they will stamp on their currency, to give added protection against counterfeits. I recommend Celina on Av Larco between Benavides & Schell, and near to B24. She will even pose for a photo!

Use ATMs, they are everywhere in the larger cities offer the best exchange rate you can choose instructions in English and withdraw sols or dollars. Large amounts of cash or traveler's checks are old hat.

yes I remember the panic questions "my bank has to send me a new ATM card to Peru, I lost mine.... will it arrive safely, where can they send it, I speak no Spanish and they wont send it to my hostel, HELP".... the best method is a combination of different methods so you do not depend on one source.

Be careful of fake Soles bills... from ATMs or street changers.

Use clean US$20s (no rips, tape or marks) or ATMs.

If u exchange US$ 100 you'll get a difference of 3 soles in between a bank and a street seller or cambista. that's a little less than US$1. SO unless u exchange quite a sum of money is not really worth too much about the exchange rate, besides there's no charge or comission so u can exchange asmany times as u like without being charged every time for it.

Look for cambistas with their ID, jacket with the logo (EURO $) and even better find a "casa de cambio" like the ones 2 and 3 talk about.

Airport for a start

Anyone with a official looking jacket. Also near many banks.

Use the Airport exchange for safety. Don´t use US$ bills over 20, they are impossible to change. I took l´s, 5´s, 10´s and 20´s. Don´t use street money changers, and some of the ATM´s don´t work.