The Peruvian currency is the Nuevo Sol (S/.). One Nuevo Sol equals 100 céntimos. There are S/. 200, S/.100, S/. 50, S/. 20, and S/. 10 bills. There are coins for 1, 2 and 5 Nuevos Soles, and 50, 20, 10, and 5 céntimos. The exchange rate fluctuates. For exact and accurate currency exchange rates, or if you want to print out a cheat sheet before your trip begins, visit www.oanda.com. As of July 31, 2008, 1 USD = 2.86 Nuevos Soles, and 1 Nuevo Sol = 0.35 USD. Before leaving Peru, it is a good idea to exchange all Nuevos Soles back to dollars.

The US dollar is the most commonly accepted foreign currency. It is accepted in most shops, supermarkets, restaurants and hotels, but it is convenient to exchange them for soles to make smaller purchases. You can change money inside the bank, or if you are in a hurry and changing only a small amount of dollars, you will find cambistas (official money changers) with calculators in-hand outside of any of the large banks, such as the Banco de Crédito or the Banco Continental. Banks are open to the public from 9:00 a.m. to 6:00 p.m. Monday through Friday, and on Saturdays from 9:00 a.m. to 1:00 p.m.

To avoid high exchange rates and commission charges, only exchange a minimal amount of cash at the airport upon your arrival. Exchange only what you will need until you find an ATM machine or bank. At ATM machines and banks you can withdraw Soles (S/.) or Dollars ($). You will find the best rate extracting soles from an ATM and will only incur an small transaction fee. You also will usually find better exchange rates with official money changers, "cambistas", than with banks.

Due to the fluctuations in the rates of exchange and differences in individual spending habits, we can only give you estimated spending figures. Most students spend between US$80 and US$120 per week. This figure does not include traveling that you may wish to do on the weekends, optional excursions, heavy shopping, or entertainment. Please keep in mind that some students spend less and others spend more.

ISA recommends that on Thursdays or Fridays you make sure that you have enough cash to get you through the weekend, and always go to the bank at least one day before going on an excursion.

Please visit this website to view the most up-to-date conversion rate for the Peruvian Nuevo Sol.

The following budget is recommended in Soles (S/.):

Food - S/. 20 per day
Local Transportation - S/. 12 per day
Study Materials (books, copies, etc) - S/. 150 total
Entertainment (theater, bars, clubs, etc) - S/. 150 per week
Extras - S/. 50 per day

Keep in mind that you may spend more money than you intend to because you are not accustomed to using Nuevos Soles, and you might forget to budget your spending.

What Do Items Typically Cost?

TRANSPORTATION:
Combi / colectivo: 1.20 soles per ride
Street Taxi: 5-7 soles within the neighborhood
Private (Radio) Taxi: 10-20 soles
Taxi from the city to the airport: 30-50 soles
Shared van to the airport: 25 soles
Daily car rental: $90-$200 US dollars
1 gallon of gasoline: 15 soles

GOING OUT:
Cinema: 15 soles, Tuesdays 2x1
Local concerts and music shows: 25-80 soles
Ticket for a Sunday soccer match: 5-30 soles, depending on the match and seat
Ticket for a major soccer game: 20-80 soles
Admission to museums: Free or ticket for 5-15 soles. *Bring your ISIC card in order to get student discounts!

MEALS:
A menu meal (generally includes an appetizer, main course and a beverage, sometimes even a dessert): 4.5-7.5 soles
Pizza: 15-40 soles
Pastas: 10-30 soles
Pollo a la Brasa: 10-30 soles
Empanadas (small meat pies): 2-5 soles
Ice cream: 1-5 soles
Tenedor libre (all-you-can-eat restaurants): from 25 soles
Breakfast in a patisserie: 8-20 soles
Coffee in Jesus María neighborhood: 2-4 soles

OTHER:
Youth hostel: 10-20 soles
Newspaper: 0.50-2.5 soles

TIPS:
Waiter/waitress: Up to 10% for special service
Porter: 75 cents per bag
Taxi driver: None

The following are expenses that ISA will not cover during your trip:

• Airport departure tax, between $25 - $35 (US Dollars) that must be paid as you leave the airport.
• Any changes or confirmation of your airline ticket that you personally make.
• Any restaurant meals, bar tabs, cover charges, etc (whether you’re with the group or on your own).
• Meals on excursions are not included, but the host families can pack a lunch for your ride there.
• Anything that you do on your own before, during, or after the trip.
• Transportation in and around Lima and to the excursion sites, using buses, taxis, or combis.
• Excursions that are "optional", i.e. not included in the program price.
• Miscellaneous things like envelopes, stamps, toiletries, etc.
• Any traveling after the program and your trip to the airport (if not traveling with the group).
• If you need medical attention, you will pay all of your expenses and can be reimbursed later by the insurance company.
• You are never reimbursed for activities or meals that you miss.