Peruvian sol
Template:Short description Script error: No such module "For". Script error: No such module "Infobox".Template:Template otherScript error: No such module "check for unknown parameters". The sol (Script error: No such module "IPA".; plural: soles; currency sign: S/)[1] 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 (Template:Lit), 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.[2][3]
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 <templatestyles src="Fraction/styles.css" />1⁄8 peso, reales worth <templatestyles src="Fraction/styles.css" />1⁄10 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.[4] 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.[5] Coins denominated in the new unit were introduced on October 1, 1991, and the first banknotes on November 13, 1991. Since that time,Script error: No such module "Unsubst". the sol has retained an inflation rate of 1.5%, the lowest ever in either South America or Latin America as a whole.[6]Script error: No such module "Unsubst". Since the new currency was put into effect, it has managed to maintain an exchange rate[7] 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.[5] Coins for S/2 and S/5 were added in 1994. The one- 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.[8] (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.[9]
| 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 | Bimetallic Outside ring: Steel Centre: 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.[5] The banknote for S/200 was introduced in August 1995.[10] All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse.[11]
A new series of banknotes was issued starting in 2021, beginning with the S/10 and S/100 notes in July 2021[12][13] and followed by the S/20 and S/50 notes in July 2022.[14] A S/200 note was released in December 2023.[15]
| Denomination | In circulation since | Colour | Person depicted on obverse | Reverse | Image (obverse) | ||
|---|---|---|---|---|---|---|---|
| S/10 | 1991 Script error: No such module "Check for unknown parameters".
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Green | Script error: No such module "Check for unknown parameters". North American NA-50 “Torito” Script error: No such module "Check for unknown parameters".
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A Caproni Ca.113, flying upside-down Script error: No such module "Check for unknown parameters".
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2011 Script error: No such module "Check for unknown parameters".
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2014 Script error: No such module "Check for unknown parameters".
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[1] | ||||||
2021 Script error: No such module "Check for unknown parameters".
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| S/20 | 1991 Script error: No such module "Check for unknown parameters".
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Brown | Script error: No such module "Check for unknown parameters". | Interior of Torre Tagle Palace, seat of Peru's Ministry of Foreign Relations Script error: No such module "Check for unknown parameters".
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2011 Script error: No such module "Check for unknown parameters".
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Huaca del Dragón, incorrectly named as Chan Chan Script error: No such module "Check for unknown parameters".
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[2] | |||||
2022 Script error: No such module "Check for unknown parameters".
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| S/50 | 1991 Script error: No such module "Check for unknown parameters".
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Orange | Script error: No such module "Check for unknown parameters". | Oasis of Huacachina, Ica Script error: No such module "Check for unknown parameters".
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2011 Script error: No such module "Check for unknown parameters".
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New temple of Chavin de Huantar (Huaraz) Script error: No such module "Check for unknown parameters".
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[3] | |||||
2022 Script error: No such module "Check for unknown parameters".
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Pink | Script error: No such module "Check for unknown parameters". | Jaguar and Puya raimondii Script error: No such module "Check for unknown parameters".
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| S/100 | 1992 Script error: No such module "Check for unknown parameters".
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Blue | Script error: No such module "Check for unknown parameters". | Script error: No such module "Check for unknown parameters". | |||
2011 Script error: No such module "Check for unknown parameters".
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Script error: No such module "Check for unknown parameters". | [4] | |||||
2021 Script error: No such module "Check for unknown parameters".
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| S/200 | 1995 Script error: No such module "Check for unknown parameters".
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Pink | Script error: No such module "Check for unknown parameters". | Script error: No such module "Check for unknown parameters". | |||
2011 Script error: No such module "Check for unknown parameters".
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Gray | Script error: No such module "Check for unknown parameters". | [5] | ||||
2023 Script error: No such module "Check for unknown parameters".
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Purple | Script error: No such module "Check for unknown parameters". | Rupicola peruvianus, the Peruvian national bird, and Dalechampia aristolochiifolia Script error: No such module "Check for unknown parameters".
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![[1]](http://www.bcrp.gob.pe/images/stories/Billetes-y-Monedas/billetes-nuevos-cabecera-10-a.jpg){kind=link}
![[2]](http://www.bcrp.gob.pe/images/stories/Billetes-y-Monedas/billetes-nuevos-cabecera-20-a.jpg){kind=link}
![[3]](http://www.bcrp.gob.pe/images/stories/Billetes-y-Monedas/billetes-nuevos-cabecera-50-a.jpg){kind=link}
![[4]](http://www.bcrp.gob.pe/images/stories/Billetes-y-Monedas/billetes-nuevos-cabecera-100-a.jpg){kind=link}
![[5]](http://www.bcrp.gob.pe/images/stories/Billetes-y-Monedas/billetes-nuevos-cabecera-200-a.jpg){kind=link}
| Current PEN exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD BRL EUR JPY |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD BRL EUR JPY |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD BRL EUR JPY |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD BRL EUR JPY |
See also
- Numismatic series Wealth and Pride of Peru
- Numismatic series Natural Resources of Peru
- Economy of Peru
- Peruvian inti
References
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- ↑ Script error: No such module "citation/CS1".
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- ↑ San José State University Department of Economics, The economic history and the economy of Peru. Retrieved on July 11, 2007.
- ↑ a b c Template:In lang Law No. 25.295, Unidad Monetaria Nuevo Sol, January 3, 1991
- ↑ Template:In lang Banco Central de Reserva del Perú, Inflation Report, May 2007, Central Reserve Bank of Peru Template:Webarchive. Retrieved on July 11, 2007
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Template:In lang Banco Central de Reserva del Perú, Cono Monetario. Retrieved on July 14, 2007.
- ↑ Template:In lang Circular letter N°028-97-EF/90, August 26, 1997, Central Reserve Bank of Peru
- ↑ Template:In lang Banco Central de Reserva del Perú, Familia de Billetes. Retrieved on July 14, 2007.
- ↑ Script error: No such module "citation/CS1".
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External links
- Banknotes and Coins from the Central Bank of Peru
- Historical banknotes of Peru Template:In lang
- Currency in Peru Template:In lang
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