The sol (; plural: soles; currency sign: S/) is the currency of Peru; it is subdivided into 100 céntimos ("cents"). The ISO 4217 currency code is PEN.
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.
At its introduction in 1991, the currency was officially called nuevo sol ("new sol"), until November 13, 2015, when Peru's Congress voted to rename the currency simply sol.
History Currencies in use before the current Peruvian sol include: The Spanish colonial real from the 16th to 19th centuries, with 8 reales equal to 1 peso. The Peruvian real from 1822 to 1863. Initially worth peso, reales worth peso were introduced in 1858 in their transition to a decimal currency system. The sol or sol de oro from 1863 to 1985, at 1 sol = 10 reales. The inti from 1985 to 1991, at 1 inti = 1,000 soles de oro.
Due to 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.San José State University Department of Economics, The economic history and the economy of Peru. Retrieved on July 11, 2007. 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 one inti millón. Law No. 25.295, Unidad Monetaria Nuevo Sol, January 3, 1991 All inti coins and banknotes with a face value below 10,000 intis were demonetized. Coins denominated in the new unit were introduced on October 1, 1991, and the first banknotes on November 13, 1991. The remaining banknotes denominated in intis ceased to be legal tender after 1992. Since that time, the sol has retained an inflation rate of 1.5%, the lowest ever in either South America or Latin America as a whole. Banco Central de Reserva del Perú, Inflation Report, May 2007, Central Reserve Bank of Peru . Retrieved on July 11, 2007 Since the new currency was put into effect, it has managed to maintain an exchange rate between S/2.2 and S/4.13 per US dollar.
Coins Coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 céntimos and S/1. Coins for S/2 and S/5 were added in 1994. The one-céntimo and five-céntimo coins fell out of use and the one-céntimo was removed from circulation on May 1, 2011, followed by the five-céntimos on January 1, 2019. (For cash transactions retailers must round down to the nearest ten céntimos or up to the nearest five. Electronic transactions continue to be processed at the exact amount.)
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 S/2 and S/5 coins are the hummingbird and condor figures from the Nazca Lines. Banco Central de Reserva del Perú, Cono Monetario. Retrieved on July 14, 2007.
Image Value Diameter (mm) Thickness (mm) Mass (g) Composition Edge 10 céntimos 20.5 1.26 3.50 Brass Smooth 20 céntimos 23 4.40 50 céntimos 22 1.65 5.45 Cu–Zn–Ni Reeded S/1 25.5 7.32 S/2 22.2 2.07 5.62 BimetallicOutside ring: SteelCentre: Cu–Zn–Ni Smooth S/5 24.3 2.13 6.67 Reeded (since 2009)
Banknotes Banknotes for S/10, S/20, S/50, and S/100 were introduced in 1991. The banknote for S/200 was introduced in August 1995. Circular letter N°028-97-EF/90, August 26, 1997, Central Reserve Bank of Peru All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse. Banco Central de Reserva del Perú, Familia de Billetes. Retrieved on July 14, 2007.
A new series of banknotes was issued starting in 2021, beginning with the S/10 and S/100 notes in July 2021 and followed by the S/20 and S/50 notes in July 2022. A S/200 note was released in December 2023.
During the currency's 30 year past, several series of banknotes were introduced:
The first one being the first Nuevos Sol series first introduced in November 1991 with the 10 and 20 Nuevos Soles banknotes in parallel with coins while higher denonimation banknotes were introduced gradually (50 Nuevos Soles on 22 April 1992, 100 Nuevos Soles on 22 July 1992 and finally 200 Nuevos Soles on 29 August 1997): +First Nuevos Sol Series(1991–2006)ImagesValuePrinted byYear(date)ChangesObverseReverse José Abelardo Quiñones GonzálesImage of an inverted flight featured by Quiñones10 Nuevos SolesDe La Rue1 February 1991First banknote introduced on 13 November 1991.Istituto Poligrafico e Zecca dello Stato10 September 1992No changes.De La Rue16 June 1994Giesecke+Devrient20 April 1995Istituto Poligrafico e Zecca dello Stato25 April 1996American Banknote Corporation11 June 1997Color changing circles sprinkled all over the note to prevent counterfeiting.6 August 199820 May 1999Oberthur Fiduciaire1 March 2001Color changing denonimation on the right side.De La Rue27 September 2001Oberthur Fiduciaire11 August 2005Slightly improved color changing denonimation on the right side.21 December 2006 San Marcos University, Raül Porras Barrenechea Palacio de Torre Tagle20 Nuevos SolesDe La Rue1 February 1991First banknote introduced on 13 November 1991.Istituto Poligrafico e Zecca dello Stato25 June 1992No changes.De La Rue16 June 1994Giesecke+Devrient20 April 1995Istituto Poligrafico e Zecca dello Stato25 April 199611 June 1997Color changing circles sprinkled all over the note to prevent counterfeiting.British American Bank Note6 August 1998Color changing denonimation on the right side.Fabrica Nacional de Moneda y Timbre20 May 1999British American Bank Note12 October 2000Oberthur Fiduciaire27 September 2001Slightly improved color changing denonimation on the right.28 October 200421 December 2006Abraham Valdelomar PintoHuacachina lagoon50 Nuevos SolesIstituto Poligrafico e Zecca dello Stato1 February 1991Introduced on 22 April 199225 June 199216 June 1994Color changing denonimation on the right side.20 April 199511 June 1997Color changing circles sprinkled all over the note to prevent counterfeiting.British American Bank Note6 August 1998De La Rue20 May 1999Royal Joh. Enschedé27 September 2001No changes.Bundesdruckerei11 August 2005Slightly improved color changing denonimation on the right. New segmented security foil on the middle.Oberthur Fiduciaire21 December 2006Jorge BassadreNational Library100 Nuevos SolesIstituto Poligrafico e Zecca dello Stato1 February 1991Introduced on 22 July 1992. Color changing circles sprinkled all over the note to prevent counterfeiting.25 June 199210 September 1992Name under portrait edited to "Jorge Basadre Grohmann"20 April 1995Color changing denonimation on the right side. The color of the 100 on the left changed to pink.British American Bank Note20 May 1999Giesecke+Devrient27 September 2001No changes.28 October 2004Slightly improved color changing denonimation on the right. New segmented security foil on the middle.Oberthur Fiduciaire21 December 2006Isabel Flores de Oliva, Saint Rose of LimaBasilica and Convent of Santo Domingo200 Nuevos SolesIstituto Poligrafico e Zecca dello Stato20 April 1995Introduced on 29 August 1997. Color changing circles sprinkled all over the note to prevent counterfeiting, color changing denonimation on the right. The printers of the banknotes were written on the reverse of the banknotes on the left down corner. These would be eventually removed from the next series.
From the late 2000s a new series of redesigned notes was introduced. The portraits of the banknotes were kept from the previous series but the reverses were changed by adding diverse buildings. These banknotes included even more improved security features compared to its predecessor. Throughout the circulation of the series, the name of the currency was also changed from Nuevos Sol to just Sol. The printers of the banknotes were no longer mentioned. +Second Series of the Nuevos Sol/Sol(2009–2018)ImagesValuePrinted byYearChangesObverseReverseJosé Abelardo Quiñones GonzálesMachu Picchu10 Nuevos SolesOberthur Fiduciaire13 August 2009New, detailed security thread.Crane Currency17 January 201310 SolesOberthur Fiduciaire10 March 2016Currency renamed from Nuevos Sol to Sol.5 July 2018San Marcos University, Raül Porras BarrenecheaWall of the Citadel of Chan-Chan in Trujillo20 Nuevos SolesDe La Rue13 August 2009New, detailed security thread.17 January 201320 Soles(Not mentioned)10 March 2016Currency renamed from Nuevos Sol to Sol.5 July 2018Abraham Valdelomar Pinto"El Castillo", Chavín de Huántar50 Nuevos SolesDe La Rue13 August 2009New, detailed security thread.Korea Minting and Security Printing Corporation22 March 201250 Soles(Not mentioned)5 July 2018Currency renamed from Nuevos Sol to Sol.Jorge Basadre GrohmannGran Pajatén100 Nuevos SolesDe La Rue13 August 2009New, detailed security thread. New hologram thread and better color changing denonimation the centre.Oberthur Fiduciaire22 March 2012100 SolesCrane Currency19 February 2015Currency renamed from Nuevos Sol to Sol.Isabel Flores de Oliva, Saint Rose of LimaSacred City of Caral-Supe200 Nuevos SolesGiesecke+Devrient13 August 2009New, detailed security thread and new hologram thread.Oberthur Fiduciaire22 March 2012Better color changing denonimation(SPARK). From 2019, a total redesign of the banknotes with totally different portraits was issued from 2021 replacing older banknotes. Some of the notes were printed in 2019 but they were initially released after 2–3 years after printing from time to time starting from the smallest and ending in the highest denonimation. +Third Series of the Sol(2021-)ImagesValuePrinted byYear(date)ChangesObverseReverse María Isabel Granda y Larco Vicuña, Ismene amancaes10 SolesPerum Peruri21 March 2019New hologram thread and color changing features on the right.15 December 2022 José María Arguedas Altamirano Andean Condor, Cantuta20 Soles21 March 201915 December 2022 María RostworowskiJaguar, Puya raimondii50 Soles21 March 201916 December 2021Pedro PauletMarvelous spatuletail, Phragmipedium kovachii100 SolesDe La Rue21 March 201916 December 2021Tilsa TsuchiyaAndean cock-of-the-rock, Flor Bella Abanquina200 SolesPolish Security Printing Works16 December 20213 October 2024
See also Numismatic series Wealth and Pride of Peru Numismatic series Natural Resources of Peru Economy of Peru Peruvian inti
References
External links Banknotes and Coins from the Central Bank of Peru Historical banknotes of Peru Currency in Peru