|sol peruano (Spanish)|
1 sol (Obverse)
|Freq. used||10, 20, 50, 100 soles|
|Rarely used||200 soles|
|Freq. used||10, 20, 50 céntimos, 1, 2, 5 soles|
|Rarely used||1, 5 céntimos (discontinued, still legal tender)|
|Date of introduction||July 1, 1991|
|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.
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. 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.[failed verification] 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)|