Peruvian inti

File:10 céntimos de Inti anv 1985.png

10 centimos coin 1985

File:Jose Gabriel Condorcanqui TupacAmaru II.jpg

500 intis with a portrait of Túpac Amaru II.

The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation was I/. The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.

History

The inti was introduced on 1 February 1985, replacing the sol de oro which had suffered from high inflation. One inti was equivalent to 1,000 soles de oro. Coins denominated in the new unit were put into circulation from May 1985 and banknotes followed in June of that year.

By 1990, the inti had itself suffered from high inflation. As an interim measure, from January to July 1991, the "inti millón" (I/m.) was used as a unit of account. One inti millón was equal to 1,000,000 intis and hence to one new sol. The nuevo sol ("new sol") was adopted on 1 July 1991, replacing the inti at an exchange rate of a million to one. Thus: 1 new sol = 1,000,000 intis = 1,000,000,000 soles de oro.

Inti notes and coins are no longer legal tender in Peru, nor can they be exchanged for notes and coins denominated in the current nuevo sol.

Inti million(I./.m.)

The Inti million was a currency unit adopted on 1 January 1991, by the Supreme Decree n.º 326-90-EF accepted on 16 December 1990. This unit was in force until 1 July 1991. Both prices and accounting records were expressed in millions of Intis with all the zeros removed.

For example: I/. 12,453,734 = I/.m. 12,45

Coins

Coins were introduced in 1985 in denominations of 1, 5, 10, 20, and 50 centimos (designs were taken from the previous 10, 50, 100, and 500 soles de oro coins), plus 1 and 5 intis. The 1 céntimo coin was issued only in 1985. The 5 céntimo coins were issued until 1986. All the other denominations were issued until 1988. All coins featured Navy Admiral Miguel Grau: cent coins on the reverse, Inti coins on the obverse.

Banknotes

In June 1985, notes were introduced in denominations of I/.10, I/.50 (taken from previous 10,000 and 50,000 soles de oro notes) and I/.100, followed by I/.500 in December of the same year. The next year, I/.1,000 notes were added, followed by I/.5,000 and I/.10,000 in 1988. 50,000 and I/.100,000 notes were added in 1989. I/.500,000 denominations were added early in 1990, I/.1,000,000 denominations were added in mid-1990, and I/.5,000,000 intis in August 1990. The obverses featured:

• I/.10 - Ricardo Palma, writer
• I/.50 - Nicolás de Piérola, President, finance minister
• I/.100 - Ramón Castilla, President, Army Marshal
• I/.500 - Túpac Amaru II, revolutionary leader
• I/.1,000 - Andrés Avelino Cáceres, President, Army Marshal
• I/.5,000 - Miguel Grau, Navy admiral
• I/.10,000 - César Vallejo, writer
• I/.50,000 - Víctor Raúl Haya de la Torre, politician
• I/.100,000 - Francisco Bolognesi, Army colonel
• I/.500,000 - Ricardo Palma, writer
• I/.1,000,000 - Hipólito Unanue, medical doctor, nationalist
• I/.5,000,000 - Antonio Raimondi, scientist

Banknotes of the Peruvian Inti

Image		Value	Printed	Withdrawn
Obverse	Reverse
File:10 Intis 1987(front).jpg Ricardo Palma	File:10 Intis 1987(Reverse).jpg	10 Intis	3 April 1985 (printed by De La Rue) 17 January 1986 (printed by De La Rue) 26 June 1987 (printed by Istituto Poligrafico e Zecca dello Stato)	1 July 1991
File:50 Intis 1987(Front).jpg Nicolás de Piérola	File:50 Intis 1987(Reverse).jpg	50 Intis	3 April 1985 (printed by De La Rue) 6 March 1986 (printed by De La Rue) 26 June 1987 (printed by Casa da Moeda do Brasil)
File:100 Intis 1987(Front).jpg Ramón Castilla	File:100 Intis 1987(Reverse).jpg	100 Intis	1 February 1985 (printed by Casa da Moeda do Brasil) 1 March 1985 (printed by Casa da Moeda do Brasil) 6 March 1986 (printed by Casa da Moeda do Brasil) 26 June 1987 (printed by Bundesdruckerei)
File:Jose Gabriel Condorcanqui TupacAmaru II.jpg Túpac Amaru II	File:500 Intis 1987(Reverse).jpg	500 Intis	1 March 1985 (printed by Bundesdruckerei) 6 March 1986 (printed by Fábrica Nacional de Moneda y Timbre) 26 June 1987 (printed by Bundesdruckerei)
File:1000 Intis 1988(Front).jpg Andrés Avelino Cáceres	File:1000 Intis 1988(Reverse).jpg	1,000 Intis	6 March 1986 (printed by De La Rue) 26 June 1987 (printed by De La Rue) 28 June 1988 (printed by De La Rue)
File:5000 Intis 1988(Front).jpg Miguel Grau	File:5000 Intis 1988(Reverse).jpg	5,000 Intis	28 June 1988 (printed by Giesecke & Devrient and Istituto Poligrafico e Zecca dello Stato) 9 September 1988 (printed by De La Rue)
File:10000 Intis 1988(Front).jpg César Vallejo	File:10000 Intis 1988(Reverse).jpg	10,000 Intis	28 June 1988 (first variant, printed by De La Rue) 28 June 1988 (second variant, printed by Istituto Poligrafico e Zecca dello Stato)	Disappeared from circulation in 1992
File:50000 Intis 1988(Front).jpg Víctor Raúl Haya de la Torre	File:50000 Intis 1988(Reverse).jpg	50,000 Intis
File:100000 Intis 1989(Front).jpg Francisco Bolognesi	File:100000 Intis 1989(Reverse).jpg	100,000 Intis	21 November 1988 (printed by De La Rue) 21 December 1988 (printed by De La Rue) 21 December 1989 (printed by the Bank of Mexico)
File:500000 Intis 1988(Front).jpg Ricardo Palma	File:500000 Intis 1988(Reverse).jpg	500,000 Intis
File:1000000 Intis 1990(Front).jpg Hipólito Unanue	File:1000000 Intis 1990(Reverse).jpg	1,000,000 Intis	5 January 1990 (printed by De La Rue)
File:5000000 Intis 1990(Front).jpg Antonio Raimondi	File:5000000 Intis 1990(Reverse).jpg	5,000,000 Intis	5 January 1990 (printed by the Bank of Mexico) 5 January 1991 (printed by Istituto Poligrafico e Zecca dello Stato)

All banknotes were made by foreign companies and were ordered by the Central Reserve Bank of Peru. The name of the printers are seen on the backside of the note on the left side or right side of the down corner of the banknote. The last banknote of the Inti was the 5,000,000 Intis banknote which was first released in 1990, then a second variant(with covered watermarks) were printed in January 1991. By 1 July 1991, when the Nuevos Sol was introduced, the majority of the banknotes were withdrawn. Banknotes from 10,000 Intis (worth 0,01 Sol) to 5,000,000 Intis (5,00 Soles) were kept in circulation until it was discontinued in 1992, during the government of Alberto Fujimori.

See also

• Economy of Peru

External links

• Peru Banknotes: full detailed catalog