Peruvian sol

Peruvian sol

The Peruvian sol (symbol: S/; code: PEN) is the official currency of Peru. It is subdivided into 100 céntimos. The sol was introduced in 1991, replacing the Peruvian inti at a rate of 1 sol = 1,000,000 intis. The name "sol" is derived from the Latin word "solidus," and also means "sun" in Spanish, which is a reference to the ancient Incan sun god, Inti.

History

The Peruvian sol was introduced as part of a broader economic reform to stabilize the Peruvian economy, which had been suffering from hyperinflation. The previous currency, the Peruvian inti, had lost significant value, necessitating the introduction of a new currency.

Coins

The Peruvian sol coins are issued in denominations of 1, 5, 10, 20, and 50 céntimos, and 1, 2, and 5 soles. The coins feature various designs, including images of notable Peruvian figures, cultural symbols, and historical landmarks.

Banknotes

The banknotes of the Peruvian sol are issued in denominations of 10, 20, 50, 100, and 200 soles. Each banknote features prominent Peruvian historical figures and landmarks. For example, the 100 sol note features the image of Jorge Basadre, a renowned Peruvian historian.

Economy

The Peruvian sol plays a crucial role in the economy of Peru. It is managed by the Central Reserve Bank of Peru, which is responsible for maintaining monetary stability and regulating the money supply. The sol is used in all financial transactions within the country, from everyday purchases to large-scale business deals.

Exchange Rates

The exchange rate of the Peruvian sol is subject to fluctuations based on various economic factors, including inflation, interest rates, and international trade. The Central Reserve Bank of Peru monitors and intervenes in the foreign exchange market to ensure stability.

Related Pages

• Peruvian inti
• Economy of Peru
• Central Reserve Bank of Peru
• Inca Empire
• Inti

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