Peruvian nuevo sol

From Perupedia

Peruvian nuevo sol nuevo sol peruano (Spanish)
1 nuevo sol (Reverse) 1 nuevo sol (Obverse) 1 nuevo sol (Reverse) 1 nuevo sol (Obverse)
ISO 4217 Code	PEN
User(s)	Peru
Inflation	1.5%
Source	Inflation Report, May 2007, Central Reserve Bank of Peru
Subunit
1/100	céntimo
Symbol	S/.
Plural	nuevos soles
céntimo	céntimos
Coins
Freq. used	10, 20, 50 céntimos, 1, 2, 5 nuevos soles
Rarely used	1, 5 céntimos
Banknotes	10, 20, 50, 100 nuevos soles
Rarely used	200 nuevos soles
Central bank	Central Reserve Bank of Peru
Website	www.bcrp.gob.pe
Mint	National Mint (Casa Nacional de Moneda)

The nuevo sol (plural: nuevos soles) (S/.) is the currency of Peru. It is subdivided into 100 céntimos. The ISO 4217 currency code is PEN.

The name is a return to that of Peru's historic currency, the sol in use from the 19th century to 1985. Although the derivation of sol is from the Latin solidus, the name means sun in Spanish. There is a continuity therefore with the old Peruvian inti, which was named after Inti, the Sun God of the Incas. The current exchange rate of the Nuevo Sol was 3.1 Nuevo Soles to 1 U.S. Dollar.

Contents 1 History 2 Coins 3 Banknotes 4 Current PEN exchange rates 5 See also 6 References 7 External links

History

Because of the bad state of economics in the 1980s and hyperinflation in the late 1980s the government was forced to abandon the inti and introduce the nuevo sol as the country's new currency.^[1] The currency was put into use on July 1, 1991 (by Law N° 25,295) to replace the inti at a rate of 1 nuevo sol = 1,000,000 intis.^[2] Coins denominated in the new unit were introduced on October 1, 1991 and the first banknotes on November 13, 1991.

Hitherto the nuevo sol currently retains a low inflation rate of 1.5%.^[3] Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 3.3 and 3.00 nuevo soles per United States dollar.

Out of all the currencies of the Latin-American region, the Peruvian nuevo sol has been the most stable and reliable currency, also being the currency least affected by the weak dollar global tendency. During the late months of 2007 and the first months of 2008, the rate fell to 2.69 nuevos soles per USD, a rate not seen since 1997. As of June 2008 the dollar went up again and is trading at 2.94 nuevos soles per USD. In late November 2008 one USD equaled 3.09 nuevo sols.

Coins

The current coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 céntimos and 1 nuevo sol.^[2] The 2 and 5 nuevos soles coins were added in 1994. Although 1 and 5 centimo coins are officially in circulation, they are very rarely used. An aluminium 1 céntimo coin was introduced in December 2005.^[4], and a 5 céntimos coin in 2007 ^[5]. 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 all coins shows the denomination. Included in the design of the bi-metallic 2 and 5 nuevos soles coins are the Nazca lines hummingbird and frigate bird figures.^[6]

Image	Value	Diameter	Thickness	Mass	Composition	Edge
30px	1 céntimo	16 mm	1.05 mm	1.78 g	Brass	Smooth
30px	1 céntimo	16 mm	1.50 mm	0.82 g	Aluminium	Smooth
36px	5 céntimos	18 mm	1.26 mm	2.70 g	Brass	Smooth
36px	5 céntimos	18 mm	1.50 mm	1.02 g	Aluminium	Smooth
40px	10 céntimos	20.5 mm	1.26 mm	3.50 g	Brass	Smooth
45px	20 céntimos	23 mm	1.26 mm	4.40 g	Brass	Smooth
45px	50 céntimos	22 mm	1.65 mm	5.45 g	Cu–Zn–Ni	Reeded
50px	1 nuevo sol	25.5 mm	1.65 mm	7.32 g	Cu–Zn–Ni	Reeded
45px	2 nuevos soles	22.2 mm	2.07 mm	5.62 g	Bi-metallic Outside ring: Steel Centre: Cu–Zn–Ni	Smooth
50px	5 nuevos soles	24.3 mm	2.13 mm	6.67 g	Bi-metallic Outside ring: Steel Centre: Cu–Zn–Ni	Smooth

Banknotes

In 1991, banknotes for 10, 20, 50 and 100 nuevos soles were introduced.^[2] The banknote for 200 nuevos soles was subsequently introduced in August 1995.^[7] All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse.^[8]

Obverse	Reverse	Value (S/.)	Dimensions	Main colour	Depicted person (obverse)
98px	98px	10	140 × 65 mm	Green	José Abelardo Quiñones Gonzáles
98px	98px	20		Orange	Raúl Porras Barrenechea
98px	98px	50		Brown	Abraham Valdelomar Pinto
98px	98px	100		Blue	Jorge Basadre Grohmann
98px	98px	200		Pink	Saint Rose of Lima

Current PEN exchange rates

From Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD CNY BRL
From XE.com:	AUD CAD CHF EUR GBP HKD JPY USD CNY BRL
From OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD CNY BRL

See also

• Economy of Peru
• Peruvian inti
• Peruvian sol

References

External links

• The Economist Peru Economic Profile

v · d · eHistorical currencies of Peru Error creating thumbnail: /home/content/83/2784283/html/perupedia/bin/ulimit4.sh: line 4: /usr/local/bin/convert: No such file or directory Main line Real until 1863 Sol 1863–1985 Inti 1985–1991 Nuevo sol 1991–present Non main line Peseta 1880–1882 Inca 1881–1882 Libra 1898–1931

v · d · eCurrency signs (¤) Circulating ฿ · ₵ · ¢ · ₡ · B/. · ден. · ₫ · € · ƒ · Ft  · ₲ · Kč · ₭ · £ / ₤ · ₥ · ₦ · ₱ · P · R · RM · ₨ · руб · ৲ · S/. · ৳ · R$ · $ · ₮ · ₩ · ¥ · zł · ₴ · Q · ₪ 220px Historic ₳ · ₢ · $ · ₰ · ₯ · ₠ · ₣ · Lm · ℳ · ₧ · I/. · Kčs · Sk

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ast:Nuevu sol

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