Spotting Counterfeits & Handling Money in Peru

Spotting Counterfeits & Handling Money in Peru

In November of last year, Peru, whose currency is the Nuevo Sol, was named the Counterfeit Cash Capital of the World.  Counterfeit money is certainly prevalent enough that travelers should take the precaution of learning how to recognize it.  Most fakes are banknotes, although fake S/2.00 and S/5.00 coins are also in circulation.  When receiving Peruvian money, always study it briefly before accepting using the Feel, Look, & Tilt method:

Feel: The bill should be printed on 100% cotton “paper”, not normal paper, giving it a unique texture.  Run your finger or nail over the name “Central Reserve Bank” and the National Emblem should be printed in relief.  This is harder to check for on older bills.

Look: You´re Watermark10Soleslooking for 2 things.  The first is the watermark: Hold the bill up against the light and find its watermark- they vary according to the bill but should always be formed by different thicknesses of the paper itself, giving it a sharp and 3D multi-tone look.  Fakes are printed on the paper in blurry gray ink and appear flat. The 2nd thing you´re looking for is the security strip: Up against the light you should see “PERU” and the value of the bill (10, 20…) and a shimmering band with the letters “BCRP” and the value again.

Most Importantly…Tilt

VariableInk100Soles

 

Color-Changing Ink: The easiest method is to study the large purple value amount (10, 20, 50…) as you tilt the bill back and forth. The number should change from purple to gold-green.

 

 

 

HiddenValueBox200Soles

 

There´s a “hidden value” box- a slight tilt of the bill should make the bill´s value (10, 20, 50…) appear. (Shown below)

 

 

Handling Money in Peru

Counterfeit Money Peru

Would you carry your entire month´s salary with you without taking precautions?  Remember that $300 is a perfectly reasonable salary here in Peru, and that although violent crime is rare, theft is not.  There´s no need to feel insecure as long as you take a common-sense approach to to handling money while you´re traveling:

 

  • Only carry the amount you need for that day or excursion.
  • Split your money up in as many different pockets as you have, with coins and small notes as your “easy access” money.
  • No one will accept torn or damaged bills from you, so don’t accept them either unless you feel like going to the bank so they´ll exchange it for you.
  • S/.200 are rarely accepted so avoid accepting or using them. US$100 are also difficult to use because there are so many fakes in circulation.
  • Always check for counterfeits!
  • Get smaller bills or coins whenever you can- taxi drivers or venders are frequently unable or unwilling to make change.
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