The US dollar traded at 3.330 soles to buy and 3.360 soles to sell in Peru's parallel market on Monday, August 24, 2026, according to the financial comparison site cuantoestaeldolar.pe. The exchange rate reflects how many Peruvian soles are needed to buy or sell one US dollar.
Peru's tax authority, the Superintendencia Nacional de Aduanas y de Administración Tributaria, known as Sunat, set its own reference rate at 3.343 soles to buy and 3.352 soles to sell as of 8:15 a.m. Earlier that morning, at 7:56 a.m., the exchange rate opened at 3.3445 soles, according to the financial data platform Bloomberg.
Why the exchange rate matters
Peru is a country that depends heavily on the exchange rate, said economist Jorge Luis Ojeda. He said a large part of the country's economy is tied to imported goods that are purchased in dollars, which makes daily movements in the rate significant for households and businesses alike.
Peru buys wheat using foreign currency, a cost that affects the livestock industry as well as the production of bread and other wheat-based goods, Ojeda said. He added that this, in turn, influences the price of the basic family food basket. A similar situation applies to fuel, he said, which Peru also buys on the international market.
Why the dollar is called 'coco' in Peru
In Peru, the US dollar is widely known by the nickname 'coco.' Banco de Crédito del Perú, one of the country's largest banks, offers a currency exchange product called 'Cocos y Lucas' for converting dollars into soles and back.
The nickname comes from the portrait of George Washington on the one-dollar bill. Washington's first name translates to Jorge in Spanish, and people named Jorge are informally nicknamed 'Coco' in Peru, which is how the US currency picked up its slang name.
Why the dollar rises or falls
The dollar was falling in Peru on Monday, prompting questions about what drives its daily movements. The exchange rate rises or falls depending on supply and demand in the market: when the supply of dollars exceeds demand, the price falls, and when demand for dollars exceeds supply, the price rises.
What the Sunat rate is used for
The exchange rate published by Sunat serves as a reference for tax purposes, according to accountant Jorge Carrillo Acosta. He said the rate allows a person to know which exchange rate to record in their accounting when making a purchase, a sale, or filing a tax declaration.
Bank rates for Monday, August 24
Major banks in Peru quoted their own buy and sell rates for the dollar on Monday, according to cuantoestaeldolar.pe:
- Banco de Crédito del Perú (BCP): buy S/3.525, sell S/3.540
- Interbank: buy S/3.493, sell S/3.576
- Banco de la Nación: buy S/3.480, sell S/3.600
- BBVA: buy S/3.468, sell S/3.608
- Scotiabank: buy S/3.519, sell S/3.558
