|sol peruano (Spanish)|
1 sol (Obverse)
|Freq. used||10, 20, 50, 100 soles|
|Rarely used||200 soles|
|Freq. used||5, 10, 20, 50 céntimos, 1, 2, 5 soles|
|Date of introduction||July 1, 1991|
|Central bank||Central Reserve Bank of Peru|
|Mint||National Mint (Casa Nacional de Moneda)|
|Source|| January 2014|
The sol replaced the Peruvian inti in 1991 and the name is a return to that of Peru's historic currency, as the previous incarnation of sol was in use from 1863 to 1985. Although sol in this usage is derived from the Latin solidus, the word also means "sun" in Spanish. There is thus a continuity with the old Peruvian inti, which was named after Inti, the Sun God of the Incas.
Because of the bad state of economy and hyperinflation in the late 1980s, the government was forced to abandon the inti and introduce the sol as the country's new currency. The new currency was put into use on July 1, 1991, by Law No. 25,295, to replace the inti at a rate of 1 sol to 1,000,000 intis. Coins denominated in the new unit were introduced on October 1, 1991, and the first banknotes on November 13, 1991. Since that time,[when?] the sol has retained an inflation rate of 1.5%, the lowest ever in either South America or Latin America as a whole.[not in citation given] Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 2.2 and 3.66 per United States dollar.
The current coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 céntimos and 1 sol. The 2- and 5-sol coins were added in 1994. Although one- and five-céntimo coins are officially in circulation, they are very rarely used. For this reason, the aluminium one-céntimo coin introduced in December, 2005, was removed from circulation on May 1, 2011. For cash transactions, retailers must round down to the nearest ten céntimos or up to the nearest five. Electronic transactions will still be processed in the exact amount. An aluminium five-céntimo coin was introduced in 2007. 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 each coin shows its denomination. Included in the designs of the bimetallic two- and five-sol coins are the hummingbird and condor figures from the Nazca Lines.
|Image||Value||Diameter (mm)||Thickness (mm)||Mass (g)||Composition||Edge|
Outside ring: Steel
Outside ring: Steel
|Reeded (since 2009)|
Banknotes for 10, 20, 50, and 100 soles were introduced in 1990. The banknote for 200 soles was introduced in August, 1995. All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse.
|Denomination||In circulation since||Colour||Person depicted on obverse||Reverse||Image (obverse)|
|Current PEN exchange rates|
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- Numismatic series Wealth and Pride of Peru
- Numismatic series Natural Resources of Peru
- Economy of Peru
- Peruvian inti
- "6 Percent GDP Growth And The Lowest Inflation Rate In Latin America: Peru In 2014". International Business Times. January 14, 2014. Retrieved January 28, 2014.
- "La moneda peruana tiene un nuevo símbolo: desde ayer es S/ no S/. según BCR". La Republica. January 6, 2016. Retrieved January 11, 2016.
- "Moneda peruana cambiará de nombre de "nuevo sol" a "sol"". El Comercio de Perú. November 13, 2015. Retrieved November 23, 2015.
- "Desde ayer la moneda peruana se llama "Sol"". El Comercio de Perú. December 16, 2015. Retrieved December 20, 2015.
- San José State University Department of Economics, The economic history and the economy of Peru. Retrieved on July 11, 2007.
- (in Spanish) Law No. 25.295, Unidad Monetaria Nuevo Sol, January 3, 1991
- (in Spanish) Banco Central de Reserva del Perú, Inflation Report, May 2007, Central Reserve Bank of Peru. Retrieved on July 11, 2007
- "Peru's nuevo sol is the most stable currency in region". Peru This Week. July 2, 2012. Retrieved January 28, 2014.
- (in Spanish) Circular letter No. 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
- (in Spanish) Banco Central de Reserva del Perú, Cono Monetario. Retrieved on July 14, 2007.
- (in Spanish) Circular letter N°028-97-EF/90, August 26, 1997, Central Reserve Bank of Peru
- (in Spanish) 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.
- 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.