USD to PEN for business payments
To pay a Peruvian supplier in soles, convert US dollars to Peruvian soles (PEN) and pay the supplier's soles account, quoting its 20 digit CCI. In Peru, though, paying in dollars is often the simpler choice, because the Constitution guarantees the free holding of foreign currency and many companies keep dollar accounts. This page covers how the sol is set, the rules, the details to collect, published costs and how to choose between USD and PEN.
- The sol is issued by the Banco Central de Reserva del Perú (BCRP), and the IMF's 2025 Article IV review advised that continued exchange rate flexibility be allowed to cushion external shocks.
- Article 64 of Peru's 1993 Constitution guarantees the free holding and disposal of foreign currency, so Peruvian companies can receive, keep and pay US dollars.
- The BCRP reported that 34.1% of credit to businesses was in foreign currency in March 2026, which is why many Peruvian suppliers price and bank in dollars.
- The CCI is a 20 digit interbank code that points to one account, so a supplier's soles account and dollar account each have their own CCI.
- Banco de la Nación charges USD 10 to receive a transfer from abroad and makes funds available 48 hours after the SWIFT messages arrive, provided it has been credited.
The sol and how its rate is set
The Peruvian sol (code PEN) is issued by the Banco Central de Reserva del Perú (BCRP), the central bank. The sol is not pegged to the dollar. In its 2025 Article IV press release, the IMF stated that continued exchange rate flexibility should be allowed to help cushion external shocks, and it flagged dollar lending that is not hedged against currency moves as a remaining risk.
That dollar exposure is large. The BCRP reported that in March 2026 the dollarization ratio of credit to businesses was 34.1%, against 22.1% for all private sector credit. In plain terms, about a third of what Peruvian companies borrow is in dollars, so many suppliers already think, price and bank in USD.
| Item | Peru |
|---|---|
| Currency and code | Peruvian sol, PEN |
| Issuer | Banco Central de Reserva del Perú (BCRP) |
| Exchange rate | Flexible; the IMF advises keeping it so to absorb shocks |
| Holding foreign currency | Free, under Article 64 of the 1993 Constitution |
| Account identifier for transfers between banks | CCI, 20 digits, one per account |
| Company tax number | RUC, 11 digits, issued by SUNAT |
| Domestic immediate transfers | 24 hours a day, 365 days a year, up to S/30,000 or US$10,000 |
Sources: IMF, press release 25/186; Constitution of Peru, Article 64; BCRP Circular 0012-2022-BCRP; SUNAT, RUC. As published on 29 October 2026.
Rules that shape a payment to Peru
Peru has no rule forcing a supplier to sell the dollars it receives. Article 64 of the Constitution reads: "El Estado garantiza la libre tenencia y disposición de moneda extranjera" (the State guarantees the free holding and disposal of foreign currency). A Peruvian company may receive your dollars, keep them in Peru or abroad and pay its own suppliers in dollars.
- Currency mismatch. BCP states that if the currency of an incoming transfer differs from the currency of the account, the funds are converted at the exchange rate of the day. Dollars sent to a soles account are converted by the supplier's bank, at its rate.
- Domestic transfers. Under BCRP Circular 0012-2022, immediate transfers between Peruvian banks run continuously, 24 hours a day, 365 days a year, up to S/30,000 or US$10,000 per transfer. That is the domestic leg a provider uses when it pays soles locally.
- Financial transactions tax. SUNAT sets the ITF (Impuesto a las Transacciones Financieras) at 0.005% of each taxable operation. On a US$100,000 movement that is US$5, deducted by the bank.
- Special accounts. Banco de la Nación states that some accounts, such as alimony accounts, receive foreign transfers only for their stated purpose and otherwise return them. Pay only a business account in the supplier's own name.
Details you need to pay a Peruvian supplier
The CCI (Código de Cuenta Interbancario) identifies one specific account for transfers between Peruvian banks, so a supplier gives a different CCI for its soles and dollar accounts. For an international wire, Banco de la Nación accepts the beneficiary's account number or the 20 digit CCI in its place, while BCP asks for the account number with its SWIFT code. Ask for both. The RUC (Registro Único de Contribuyentes) is the permanent 11 digit taxpayer number SUNAT assigns; it never changes between invoices, which makes it a useful fraud check.
| Detail | What to ask for | Check |
|---|---|---|
| Beneficiary name | Full legal name (razón social) as registered with the bank | Banco de la Nación requires the registered name |
| RUC | 11 digit taxpayer number from the invoice | Must match every invoice from the supplier |
| Account number | Number of the account in the currency you will send | Confirm in writing whether it is PEN or USD |
| CCI | 20 digit CCI of the same account | Exactly 20 digits; same bank as the SWIFT code |
| Bank and SWIFT code | For example BCPLPEPL for BCP or BANCPEPL for Banco de la Nación | Check against the bank name |
Sources: Banco de la Nación; BCP; SUNAT. As published on 29 October 2026.
Holidays and the reasons payments to Peru are held are in our guide on how to pay suppliers in Peru.
What converting USD to PEN costs
The cost has three parts: the mid-market rate, the margin added by whoever converts and the payment fee. Peru adds a receiving side that varies by bank. Banco de la Nación charges a flat USD 10 per incoming transfer from abroad, and BCP charges a commission set in its tariff schedule. If you send dollars to a soles account, the supplier's bank also applies its own rate of the day.
Banco de la Nación states that funds are available 48 hours after the SWIFT messages are received, provided the sending or correspondent bank has credited it, and that transfers can take longer depending on the country of origin and correspondent banks. BCP states that it processes a transfer in minutes and credits the account.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Helm shows the rate, fee and expected arrival before you confirm, and pays by SWIFT or by local rails in the supplier's currency where available, confirmed by your account manager. Sending dollars to a dollar account avoids any conversion margin; the comparison then comes down to wire fees and who pays them. See international payments.
Pay in USD or in PEN?
| Option | When it fits | What to check |
|---|---|---|
| USD invoice paid to a USD account | Most exporters and established suppliers | That the account number and CCI are for the dollar account |
| USD invoice paid to a PEN account | Avoid where possible | The receiving bank converts at its own rate of the day |
| PEN invoice paid to a PEN account | Smaller suppliers with costs in soles | Who converts, at what rate; you carry the exchange risk |
Sources: BCRP, Resumen Informativo, 23 April 2026; BCP. As published on 29 October 2026.
With about a third of business credit in dollars and no rule forcing conversion, a USD invoice paid into a USD account is usually the cleanest route to Peru. Pay soles when the supplier's price list is in soles. Peruvian companies paid in dollars can read our guide to a USD business account in Peru and the Peru country guide.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Is the Peruvian sol pegged to the dollar?
No. The sol's rate moves with the market, and the IMF's 2025 Article IV statement advised that continued exchange rate flexibility be allowed to cushion external shocks.
Can a Peruvian company keep the dollars I pay it?
Yes. Article 64 of Peru's 1993 Constitution guarantees the free holding and disposal of foreign currency, so a Peruvian company can receive, keep and pay US dollars.
What is a CCI in Peru?
The CCI, Código de Cuenta Interbancario, is a 20 digit code that identifies one specific bank account for transfers between Peruvian banks. A supplier with soles and dollar accounts has a different CCI for each.
What is the RUC?
The RUC is the permanent 11 digit taxpayer number SUNAT assigns to each registered taxpayer. It appears on a Peruvian supplier's invoices and should never change between invoices.
How much does a Peruvian bank charge to receive a transfer?
It depends on the bank. Banco de la Nación charges USD 10 per transfer from abroad, while BCP charges a commission set in its tariff schedule.
What is the ITF in Peru?
The ITF is Peru's tax on financial transactions. SUNAT states that the rate is 0.005% of each taxable operation, so a US$100,000 movement costs US$5.
References
- International Monetary Fund: IMF Executive Board Concludes 2025 Article IV Consultation with Peru (press release 25/186)
- Constitución Política del Perú de 1993, Article 64 (copy published on gob.pe)
- Banco Central de Reserva del Perú: Resumen Informativo Semanal, 23 April 2026
- Banco Central de Reserva del Perú: Circular 0012-2022-BCRP (immediate transfers)
- SUNAT: Registro Único de Contribuyentes (RUC)
- SUNAT: Impuesto a las Transacciones Financieras (ITF), tasa
- Banco de la Nación: Frequently asked questions on transfers from abroad
- BCP: Transfers from abroad for companies
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.