The foreign currency most readily exchanged in Cuzco is the United States dollar (us$). It is also commonly used in commercial transactions and for purchasing goods. Exchange offices abound in the city of Cuzco (especially on Avenida El Sol and near the market). It is also possible to exchange dollars through moneychangers in the city center (Avenida El Sol, across from the Palace of Justice). Some hotels and automatic teller machines provide this service but use a lower exchange rate. The exchange rate varies daily but is not enough to be significant. Closely examine the bills you receive to avoid implying cheated. Dollar bills that tear or are in poor condition are often not accepted.
Peru’s official currency is the Nuevo Sol. There are 5 Nuevos soles, 10, 20, 50 centimos, and 1, 2, and 5. Bills come in 10, 20, 50, 100, and 200 Nuevos Soles.
Traveler’s checks are not widespread among Cuzco’s commercial establishments. Many hotels charge an additional fee for accepting them, and in some banks, it is difficult to exchange them for cash (calculate a loss of 2% to 5% of the amount to be exchanged).
These can imply done at commercial banks. At least three days should be allowed for international transfers. National transfers take one day or less. It is also possible to withdraw cash against a credit card at automatic teller machines.
The credit cards most accepted in Cuzco are Visa, MasterCard, American Express, and Diners. However, they do not commonly use in the town or the rest of the department.
Banks are generally open to the public on Monday through Friday, from 9 am to 6 pm, and Saturdays from 9 am to midday (with some variations). They may be open fewer hours during the summer (January to March).