Wikipedia

Peruvian sol

For the Peruvian currency used from 1863 to 1985, seePeruvian sol (1863–1985).

Thesol(Spanish pronunciation:[sol];plural:soles;currency sign:S/)[3]is thecurrencyofPeru;it is subdivided into 100céntimos( "cents" ). TheISO 4217currency code isPEN.

Peruvian sol
Sol Peruano(Spanish)
2019 50 centimos coin
ISO 4217
CodePEN (numeric:604)
before: PEH, PEI, PES
Subunit0.01
Unit
Pluralsoles
SymbolS/‎
Denominations
Subunit
 1⁄100céntimo
Plural
 céntimocéntimos
Banknotes
 Freq. usedS/10, S/20, S/50, S/100
 Rarely usedS/200
Coins
 Freq. used10, 20, 50 céntimos,
S/1, S/2, S/5
 Rarely used1, 5 céntimos (discontinued, still legal tender)
Demographics
Date of introductionJuly 1, 1991
ReplacedPeruvian inti
User(s)Peru
Issuance
Central bankCentral Reserve Bank of Peru
 Websitewww.bcrp.gob.pe
PrinterPerum Peruri[1]
 Websitewww.peruri.co.id
MintNational Mint (Casa Nacional de Moneda)
Valuation
Inflation2.29%
 Source[2]January 2014

The sol replaced thePeruvian intiin 1991 and the name is a return to that of Peru's historic currency, as the previous incarnation ofsolwas in use from 1863 to 1985. Althoughsolin this usage is derived from the Latinsolidus(lit. 'solid'), the word also means "sun" in Spanish. There is thus a continuity with the old Peruvian inti, which was named afterInti,theSun Godof theIncas.

At its introduction in 1991, the currency was officially callednuevo sol( "new sol" ), but on November 13, 2015, thePeruvian Congressvoted to rename the currency simplysol.[4][5]

History

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Currencies in use before the current Peruvian sol include:

  • TheSpanish colonial realfrom the 16th to 19th centuries, with 8 reales equal to 1 peso.
  • ThePeruvian realfrom 1822 to 1863. Initially worth1⁄8peso,realesworth1⁄10peso were introduced in 1858 in their transition to a decimal currency system.
  • Thesolorsol de orofrom 1863 to 1985, at 1 sol = 10 reales.
  • Theintifrom 1985 to 1991, at 1 inti = 1,000soles de oro.

Due to the bad state of economy andhyperinflationin the late 1980s, the government was forced to abandon the inti and introduce the sol as the country's new currency.[6]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, or oneinti millón.[7]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.[8][failed verification]Since the new currency was put into effect, it has managed to maintain an exchange rate[9]between S/2.2 and S/4.13 perUS dollar.

Coins

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Coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50céntimosand S/1.[7]Coins for S/2 and S/5 were added in 1994. The one- and five-céntimocoins fell out of use and the one-céntimowas removed from circulation on May 1, 2011 followed by the five-céntimoson January 1, 2019.[10](For cash transactions retailers must round down to the nearest tencéntimosor up to the nearest five. Electronic transactions continue to be processed at the exact amount.)

All coins show thecoat of arms of Perusurrounded by the textBanco 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 thebimetallicS/2 and S/5 coins are the hummingbird and condor figures from theNazca Lines.[11]

Image Value Diameter (mm) Thickness (mm) Mass (g) Composition Edge
10 céntimos 20.5 1.26 3.50 Brass Smooth
20 céntimos 23 1.26 4.40 Brass Smooth
50 céntimos 22 1.65 5.45 Cu–Zn–Ni Reeded
S/1 25.5 1.65 7.32 Cu–Zn–Ni Reeded
S/2 22.2 2.07 5.62 Bimetallic
Outside ring: Steel
Centre: Cu–Zn–Ni 		Smooth
S/5 24.3 2.13 6.67 Bimetallic
Outside ring: Steel
Centre: Cu–Zn–Ni 		Reeded (since 2009)

Banknotes

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Banknotes for S/10, S/20, S/50, and S/100 were introduced in 1990.[7]The banknote for S/200 was introduced in August 1995.[12]All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse.[13]

A new series of banknotes was issued starting in 2021, beginning with the S/10 and S/100 notes in July 2021[14][15]and followed by the S/20 and S/50 notes in July 2022.[16]A S/200 note is released in December 2023.[17]

Denomination In circulation since Colour Person depicted on obverse Reverse Image (obverse)
S/10
1991
 Green
José Quiñones Gonzales
North American NA-50“Torito”
ACaproni Ca.113,flying upside-down
2011
 Green
José Quiñones Gonzales
Machu Picchu
2014
 Green
José Quiñones Gonzales
Machu Picchu
 [1]
2021
 Green
María Isabel Granda y Larco
Vicuña;Ismene amancaes
S/20
1991
 Brown
Raúl Porras Barrenechea
Interior ofTorre Tagle Palace,seat of Peru'sMinistry of Foreign Relations
2011
 Brown
Raúl Porras Barrenechea
Huaca del Dragón, incorrectly named asChan Chan
 [2]
2022
 Brown
José María Arguedas Altamirano
Andean condorandCantua buxifolia
S/50
1991
 Orange
Abraham Valdelomar
Oasis ofHuacachina,Ica
2011
 Orange
Abraham Valdelomar
New temple ofChavin de Huantar(Huaraz)
 [3]
2022
 Pink
María Rostworowski Tovar
JaguarandPuya raimondii
S/100
1992
 Blue
Jorge Basadre
National Library of Peru
2011
 Blue
Jorge Basadre
Great Pajaten
 [4]
2021
 Blue
Pedro Paulet
Marvelous spatuletail;Phragmipedium kovachii
S/200
1995
 Pink
Rose of Lima
Convent of Santo Domingo, Lima
2011
 Gray
Rose of Lima
Sacred City of Caral-Supe
 [5]
2023
 Purple
Tilsa Tsuchiya
Rupicola peruvianus,the Peruvian national bird, andDalechampia aristolochiifolia
Current PEN exchange rates
FromGoogle Finance: AUDCADCHFCNYEURGBPHKDJPYUSDBRLEURJPY
FromYahoo! Finance: AUDCADCHFCNYEURGBPHKDJPYUSDBRLEURJPY
FromXE.com: AUDCADCHFCNYEURGBPHKDJPYUSDBRLEURJPY
From OANDA: AUDCADCHFCNYEURGBPHKDJPYUSDBRLEURJPY

See also

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References

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  1. ^"Peruri Cetak Uang Peru, Dibayar Rp255 Miliar".CNN Indonesia(in Indonesian).Retrieved23 March2022.
  2. ^"6 Percent GDP Growth And The Lowest Inflation Rate In Latin America: Peru In 2014".International Business Times.January 14, 2014.RetrievedJanuary 28,2014.
  3. ^"La moneda peruana tiene un nuevo símbolo: desde ayer es S/ no S/. según BCR".La Republica.January 6, 2016.RetrievedJanuary 11,2016.
  4. ^"Moneda peruana cambiará de nombre de" nuevo sol "a" sol "".El Comercio de Perú.November 13, 2015.RetrievedNovember 23,2015.
  5. ^"Desde ayer la moneda peruana se llama" Sol "".El Comercio de Perú.December 16, 2015.RetrievedDecember 20,2015.
  6. ^San José State University Department of Economics, The economic history and the economy of Peru. Retrieved on July 11, 2007.
  7. ^abc(in Spanish)Law No. 25.295,Unidad Monetaria Nuevo Sol,January 3, 1991
  8. ^(in Spanish)Banco Central de Reserva del Perú,Inflation Report, May 2007, Central Reserve Bank of PeruArchived2007-06-09 at theWayback Machine.Retrieved on July 11, 2007
  9. ^"Peru's nuevo sol is the most stable currency in region".Peru This Week.July 2, 2012. Archived fromthe originalon December 2, 2016.RetrievedJanuary 28,2014.
  10. ^"MONEDAS DE 5 CÉNTIMOS DEJARÁN DE CIRCULAR DESDE EL 1 DE ENERO DE 2019"(PDF).Central Reserve Bank of Peru(in Spanish). October 31, 2018.RetrievedOctober 31,2018.
  11. ^(in Spanish)Banco Central de Reserva del Perú,Cono Monetario.Retrieved on July 14, 2007.
  12. ^(in Spanish)Circular letter N°028-97-EF/90, August 26, 1997, Central Reserve Bank of Peru
  13. ^(in Spanish)Banco Central de Reserva del Perú,Familia de Billetes.Retrieved on July 14, 2007.
  14. ^"Nuevo billete de S/ 10".Multimedia.bcrp.gob.pe.Retrieved27 July2022.
  15. ^"Nuevo billete de S/ 100".Multimedia.bcrp.gob.pe.Retrieved27 July2022.
  16. ^"ShieldSquare Captcha"(PDF).Bbcrp.gob.pe.Retrieved27 July2022.
  17. ^RedacciónRPP (2023-12-15)."BCR pone en circulación billete de S/200 con nuevo diseño | RPP Noticias".rpp.pe(in Spanish).Retrieved2023-12-15.
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