Kelly wrote:Back in the 1980s, Peru's government ran the printing presses as an answer to the country's massive economic crisis, but churning out currency only made things worse and hyperinflation topped off at 1.2 million percent by the end of the decade.
The printing presses have returned, but this time it is not the government cranking out bills, and the currency coming out is not necessarily the Peruvian nuevo sol. Some days it is euros, while others it is Venezuelan bolívares fuertes, or Bolivian and Chilean pesos. Most days, however, it is U.S. dollars.
In the past two years, Peru has become the No. 1 distributor of counterfeit currency internationally, according to Kenneth Jenkins, a U.S. special agent in charge of the Secret Service's Criminal Investigative Division. "Approximately $33 million has been seized in Peru since 2009, which is a substantial number," Jenkins told TIME in a telephone interview from Washington. (Read More)
Finally, I have a really good laser printer. Can I become a millionaire?? (JUST KIDDING!!)
scott wrote:Finally, I have a really good laser printer. Can I become a millionaire?? (JUST KIDDING!!)
Actually they use an AB Dick 360 printing press for US currency, don't know about other currencies. There are a lot of them in Peru.
minnesotasnow wrote:While considering a move to Peru, I admitt my uneasiness with the currency. How in the world will I not get ripped off? How does one tell if money is fake there? Once while I was in a store, a nice young man stopped the clerk from giving my counterfeit change. How did everyone in the expat network know what to do about the money problems there?
Xibalba wrote:It's even worse than that.
On a more serious note, I read somewhere (probably here) that when you exchange money the agent should stamp it with their seal, so if it's counterfeit you know the source. I have never had any of the agents stamp it (and I go to the ,ore prominent exchanges downtown). And if the bills are constantly stamped, doesn't that get confusing? I guess it is legal to mark up currency in Peru?
euroman wrote:We live in a Euro world.