Peruvian sol: Difference between revisions
Line 31: | Line 31: | ||
Hitherto the Nuevo Sol currently retains a low inflation rate of 1.5%.<ref>{{es icon}} Banco Central de Reserva del Perú, [http://www.bcrp.gob.pe/bcr/dmdocuments/PolMon/Archivos/RI_2007_02.pdf Inflation Report, May 2007, Central Reserve Bank of Peru]. Retrieved on July 11, 2007</ref> Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 2.3 and 3.65 Nuevo Soles per [[United States dollar]]. |
Hitherto the Nuevo Sol currently retains a low inflation rate of 1.5%.<ref>{{es icon}} Banco Central de Reserva del Perú, [http://www.bcrp.gob.pe/bcr/dmdocuments/PolMon/Archivos/RI_2007_02.pdf Inflation Report, May 2007, Central Reserve Bank of Peru]. Retrieved on July 11, 2007</ref> Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 2.3 and 3.65 Nuevo Soles per [[United States dollar]]. |
||
Out of all the currencies of the Latin-American region, the Peruvian Nuevo Sol has been one of the most - if not the most - stable and reliable currencies, also being the currency least affected by the weak dollar global tendency. During the late months of 2007 and the first months of 2008, the rate fell to 2.69 Nuevos Soles per USD, a rate not seen since 1997. As of June 2008, the dollar went up again and was trading at 2.94 nuevos soles per USD. For most of 2012 the Peruvian Nuevo Sol was trading at 2.65 against the USD. As of |
Out of all the currencies of the Latin-American region, the Peruvian Nuevo Sol has been one of the most - if not the most - stable and reliable currencies, also being the currency least affected by the weak dollar global tendency. During the late months of 2007 and the first months of 2008, the rate fell to 2.69 Nuevos Soles per USD, a rate not seen since 1997. As of June 2008, the dollar went up again and was trading at 2.94 nuevos soles per USD. For most of 2012 the Peruvian Nuevo Sol was trading at 2.65 against the USD. As of March 15, 2013 the Peruvian Nuevo Sol is trading at S/. 2.59 per USD. |
||
==Coins== |
==Coins== |
Revision as of 23:15, 18 March 2013
Nuevo Sol peruano Template:Es icon | |||||
---|---|---|---|---|---|
| |||||
ISO 4217 | |||||
Code | PEN (numeric: 604) | ||||
Subunit | 0.01 | ||||
Unit | |||||
Plural | Nuevos Soles | ||||
Symbol | S/. | ||||
Denominations | |||||
Subunit | |||||
1/100 | céntimo | ||||
Plural | |||||
céntimo | céntimos | ||||
Banknotes | |||||
Freq. used | 10, 20, 50 & 100 Nuevos Soles | ||||
Rarely used | 200 Nuevos Soles | ||||
Coins | |||||
Freq. used | 10, 20 & 50 céntimos, 1, 2 & 5 Nuevos Soles | ||||
Rarely used | 1 & 5 céntimos | ||||
Demographics | |||||
User(s) | ![]() | ||||
Issuance | |||||
Central bank | Central Reserve Bank of Peru | ||||
Website | www.bcrp.gob.pe | ||||
Mint | National Mint (Casa Nacional de Moneda) | ||||
Valuation | |||||
Inflation | 1.5% | ||||
Source | Inflation Report, May 2007, Central Reserve Bank of Peru |
The Nuevo Sol (Spanish pronunciation: [ˈnweβo ˈsol], (new sun) plural: Nuevos Soles; currency sign: S/.) is the currency of Peru. It is subdivided into 100 cents, called céntimos in Spanish. The ISO 4217 currency code is PEN. It is most commonly referred to just as Sol
The name is a return to that of Peru's historic currency, the Sol in use from the 19th century to 1985. Although the derivation of Sol is the Latin solidus, the word also happens to mean sun in Spanish. There is a continuity therefore with the old Peruvian inti, which was named after Inti, the Sun God of the Incas.
History
Because of the bad state of economy in the 1980s and hyperinflation in the late 1980s the government was forced to abandon the inti and introduce the Nuevo Sol as the country's new currency.[1] The currency was put into use on July 1, 1991 (by Law N° 25,295) to replace the Inti at a rate of 1.00 Nuevo Sol = 1,000,000.00- Intis.[2] Coins denominated in the new unit were introduced on October 1, 1991 and the first banknotes on November 13, 1991. Hitherto the Nuevo Sol currently retains a low inflation rate of 1.5%.[3] Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 2.3 and 3.65 Nuevo Soles per United States dollar.
Out of all the currencies of the Latin-American region, the Peruvian Nuevo Sol has been one of the most - if not the most - stable and reliable currencies, also being the currency least affected by the weak dollar global tendency. During the late months of 2007 and the first months of 2008, the rate fell to 2.69 Nuevos Soles per USD, a rate not seen since 1997. As of June 2008, the dollar went up again and was trading at 2.94 nuevos soles per USD. For most of 2012 the Peruvian Nuevo Sol was trading at 2.65 against the USD. As of March 15, 2013 the Peruvian Nuevo Sol is trading at S/. 2.59 per USD.
Coins
The current coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 cents and 1 Nuevo Sol.[2] The 2 and 5 Nuevo Sol coins were added in 1994. Although 1 and 5 cent coins are officially in circulation, they are very rarely used. For this reason, the 1-cent coin was removed from circulation as of May 1, 2011. For cash transactions, retailers must round down to the nearest zero, or up to the nearest 5 cent. Electronic transactions will still be processed in the exact amount. An aluminium one-cent coin was introduced in December 2005.,[4] and a five-cent coin in 2007.[5] All coins show the coat of arms of Peru surrounded by the text Banco Central de Reserva del Perú (Central Reserve Bank of Peru) on the obverse. The reverse of all coins shows the denomination. Included in the design of the bi-metallic 2 and 5 Nuevo Sol coins are the hummingbird and condor figures from the Nazca Lines.[6]
Image | Value | Diameter | Thickness | Mass | Composition | Edge |
---|---|---|---|---|---|---|
5 céntimos | 18 mm | 1.50 mm | 1.02 g | Aluminium | Smooth | |
10 céntimos | 20.5 mm | 1.26 mmi | 3.50 g | Brass | Smooth | |
20 céntimos | 23 mm | 1.26 mm | 4.40 g | Brass | Smooth | |
50 céntimos | 22 mm | 1.65 mm | 5.45 g | Cu–Zn–Ni | Reeded | |
1 Nuevo Sol | 25.5 mm | 1.65 mm | 7.32 g | Cu–Zn–Ni | Reeded | |
File:Elsol2.jpg | 1 Nuevo Sol | 25.5 mm | 1.65 mm | 7.32 g | Cu–Zn–Ni | Reeded |
File:NuevoSol3.jpg | 1 Nuevo Sol | 25.5 mm | 1.65 mm | 7.32 g | Cu–Zn–Ni | Reeded |
2 Nuevos Soles | 22.2 mm | 2.07 mm | 5.62 g | Bi-metallic Outside ring: Steel Centre: Cu–Zn–Ni |
Smooth | |
5 Nuevos Soles | 24.3 mm | 2.13 mm | 6.67 g | Bi-metallic Outside ring: Steel Centre: Cu–Zn–Ni |
Reeded (since 2009) |
Banknotes
In 1990, banknotes for 10, 20, 50 and 100 Nuevos Soles were introduced.[2] The banknote for 200 Nuevos Soles was subsequently introduced in August 1995.[7] All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse.[8]
Denomination | In circulation since | Colour | Person Depicted on Obverse | Reverse | Image (Obverse) | |
---|---|---|---|---|---|---|
10 Nuevos Soles | Green | |||||
Green | File:Billete10.jpg | |||||
20 Nuevos Soles | Orange | File:Veintesoles.jpg | ||||
Orange | File:Billete20.jpg | |||||
50 Nuevos Soles | Brown | [1] | ||||
Brown | ||||||
100 Nuevos Soles | Blue | [2] | ||||
Blue | ||||||
200 Nuevos Soles | Pink | [3] | ||||
Pink |
Current PEN exchange rates | |
---|---|
From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD CNY BRL |
From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD CNY BRL |
From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD CNY BRL |
From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD CNY BRL |
See also
References
- ^ San José State University Department of Economics, The economic history and the economy of Peru. Retrieved on July 11, 2007.
- ^ a b c Template:Es icon Law N° 25.295, Unidad Monetaria Nuevo Sol, January 3, 1991
- ^ Template:Es icon Banco Central de Reserva del Perú, Inflation Report, May 2007, Central Reserve Bank of Peru. Retrieved on July 11, 2007
- ^ Template:Es icon Circular letter N°021–2005-BCRP, December 7, 2005, Central Reserve Bank of Peru
- ^ World coin news Wednesday, August 29, 2007 http://worldcoinnews.blogspot.com/2007/08/peru-5-centimos-2007-aluminium.html#comments
- ^ Template:Es icon Banco Central de Reserva del Perú, Cono Monetario. Retrieved on July 14, 2007.
- ^ Template:Es icon Circular letter N°028-97-EF/90, August 26, 1997, Central Reserve Bank of Peru
- ^ Template:Es icon Banco Central de Reserva del Perú, Familia de Billetes. Retrieved on July 14, 2007.
- Bruce, Colin R. II (senior editor) (2006). 2007 Standard Catalog of World Coins: 1901–2000 (34th ed.). Krause Publications. pp. 1463–1465. ISBN 0896893650.
{{cite book}}
:|author1=
has generic name (help) - Cuhaj, George S. (editor) (2005). Standard Catalog of World Paper Money: Modern Issues 1961-Date (11th ed.). Krause Publications. pp. 659–661. ISBN 0-89689-160-7.
{{cite book}}
:|author1=
has generic name (help)