Melissa Reid and Michaela McCollum have both been charged, Miss McCollum's lawyer Peter Madden told Reuters.
Mr Madden told Reuters he was still unsure of the exact charges.
Melissa Reid and Michaela McCollum appeared in court in Lima, but it is unclear whether they have been charged, their lawyer said.
Two women accused of smuggling 12kg of cocaine into Peru could face up to three years in custody and a maximum of 25 years in prison.
A British woman accused of drug trafficking in Peru said she and her friend "were not smuggling for money, we were smuggling for our lives."