Peruvian sol facts for kids

Quick facts for kids Peruvian sol
2019 50 centimos coin
ISO 4217 Code	PEN
User(s)	Peru
Inflation	2.29%
Source	January 2014
Subunit
1⁄100	céntimo
Symbol	S/
Plural	soles
céntimo	céntimos
Coins
Freq. used	10, 20, 50 céntimos, S/1, S/2, S/5
Rarely used	1, 5 céntimos (discontinued, still legal tender)
Banknotes
Freq. used	S/10, S/20, S/50, S/100
Rarely used	S/200
Printer	Perum Peruri

The sol (plural: soles; currency symbol: S/) is the official money of Peru. It is divided into 100 smaller units called céntimos, which are like cents. The international code for the Sol is PEN.

The Sol replaced an older currency called the Peruvian inti in 1991. The name "sol" was actually used before, from 1863 to 1985. The word sol comes from the Latin word solidus, meaning "solid". But in Spanish, sol also means "sun". This connects to the old Peruvian Inti currency, which was named after Inti, the Sun God of the Incas.

When it was first introduced in 1991, the currency was officially called nuevo sol, meaning "new sol". However, on November 13, 2015, the Peruvian Congress decided to simply call it the sol.

History of Peruvian Money

Before the current Peruvian Sol, several other types of money were used:

• The Spanish colonial real was used from the 1500s to the 1800s. Eight reales were equal to one peso.
• The Peruvian real was used from 1822 to 1863.
• The sol or sol de oro was used from 1863 to 1985. One sol was worth 10 reales.
• The inti was used from 1985 to 1991. One inti was equal to 1,000 soles de oro.

In the late 1980s, Peru's economy faced big challenges, including very high price increases (called hyperinflation). Because of this, the government had to stop using the Inti and introduce the Sol as the country's new money.

The new Sol currency started on July 1, 1991. One new Sol was worth 1,000,000 Intis. New coins were released on October 1, 1991, and the first banknotes came out on November 13, 1991. Since then, the Sol has kept prices very stable, which is a great achievement for Peru's economy. It has also maintained a steady exchange rate against the US dollar.

Coins of Peru

Coins were first released in 1991. They came in values of 1, 5, 10, 20, and 50 céntimos, and S/1. Later, S/2 and S/5 coins were added in 1994. The 1- and 5-céntimo coins are no longer used much. The 1-céntimo coin was removed from circulation in 2011, and the 5-céntimo coin in 2019.

All Peruvian coins show the coat of arms of Peru on one side. Around it, you can read "Banco Central de Reserva del Perú" (which means "Central Reserve Bank of Peru"). The other side of each coin shows its value. The S/2 and S/5 coins are special because they are made of two different metals. They also feature images from the famous Nazca Lines, like a hummingbird and a condor.

Banknotes of Peru

Banknotes for S/10, S/20, S/50, and S/100 were introduced in 1990. The S/200 banknote came out in August 1995. All banknotes are the same size (140 x 65 mm). Each note features a portrait of an important historic Peruvian person on the front.

A new series of banknotes started being released in 2021. The S/10 and S/100 notes came out in July 2021, followed by the S/20 and S/50 notes in July 2022. A new S/200 note was released in December 2023.

See also

• Numismatic series Wealth and Pride of Peru
• Numismatic series Natural Resources of Peru
• Economy of Peru
• Peruvian inti