The nuevo sol (ˈnweβo ˈsol, (new sun) plural: nuevos soles; currency sign

Currency sign

A currency sign is a graphic symbol used as a shorthand for a currency's name, especially in reference to amounts of money. They typically employ the first letter or character of the currency, sometimes with minor changes such as ligatures or overlaid vertical or horizontal bars...

: S/.) is the currency

Currency

In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...

 of Peru

Peru

Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....

. It is subdivided into 100 cents, called céntimo

Céntimo

The céntimo was a currency unit of Spain and other countries which were historically influenced by Spain or Portugal . The word derived from the Latin Centum meaning "hundred"...

s in Spanish. The ISO 4217

ISO 4217

ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...

 currency code is PEN. It is most commonly referred to just as sol

The name is a return to that of Peru's historic currency, the sol

Peruvian sol

The sol, was the currency of Peru between 1863 and 1985. It had the ISO 4217 currency code PEH. It was subdivided into 10 dineros or 100 centavos.-History:...

 in use from the 19th century to 1985. Although the derivation of sol is the Latin solidus

Solidus (coin)

The solidus was originally a gold coin issued by the Romans, and a weight measure for gold more generally, corresponding to 4.5 grams.-Roman and Byzantine coinage:...

, the word also happens to mean sun in Spanish. There is a continuity therefore with the old Peruvian inti

Peruvian inti

The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.-History:The inti was...

, which was named after Inti

Inti

According to the Inca mythology, Inti is the sun god, as well a patron deity of the Inca Empire. His exact origin is not known. The most common story says he is the son of Viracocha, the god of civilization.- Worship :...

, the Sun God of the Incas.

History

Because of the bad state of economy in the 1980s and hyperinflation

Hyperinflation

In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...

 in the late 1980s the government was forced to abandon the inti

Peruvian inti

The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.-History:The inti was...

and introduce the nuevo sol as the country's new currency. 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. 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%. Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 2.3 and 3.65 nuevo soles per United States dollar

United States dollar

The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

.

Out of all the currencies of the Latin-American region, the Peruvian nuevo sol has been one of the most stable and reliable currencies, 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 was trading at 2.94 nuevos soles per USD. For most of 2011 the Peruvian Nuevo Sol was trading at 2.75 against the USD. As of October 25 2011 the Peruvian Nuevo Sol was trading at 2.71 per USD.

Coins

The current coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 cents and 1 nuevo sol. The 2 and 5 nuevo sol coins were added in 1994. Although 1- and 5- cent coins are officially in circulation, they are very rarely used. For this reason, the 1-cent coin will be removed from circulation as of May 1, 2011. For cash transactions, retailers must round down to the nearest zero, or up to the nearest 5. Electronic transactions will still be processed in the exact amount. An aluminum one-cent coin was introduced in December 2005., and a five-cent coin in 2007. All coins show the coat of arms of Peru

Coat of arms of Peru

The coat of arms of Peru is the national symbolic emblem of Peru. Four variants are used: the coat of arms per se ; the national coat of arms, or national shield ; the great seal of the state ; and the naval coat of arms .-Description:All four share the same escutcheon or shield,...

 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 nuevo sol coins are the hummingbird & Ave Fragata (Frigatebird) figures from the Nazca Lines

Nazca Lines

The Nazca Lines are a series of ancient geoglyphs located in the Nazca Desert in southern Peru. They were designated a UNESCO World Heritage Site in 1994. The high, arid plateau stretches more than between the towns of Nazca and Palpa on the Pampas de Jumana about 400 km south of Lima...

.

Image	Value	Diameter	Thickness	Mass	Composition	Edge
	5 céntimos	18 mm	1.50 mm	1.02 g Gram The gram is a metric system unit of mass....	Aluminium	Smooth
	10 céntimos	20.5 mm	1.26 mmi	3.50 g Gram The gram is a metric system unit of mass....	Brass	Smooth
	20 céntimos	23 mm	1.26 mm	4.40 g Gram The gram is a metric system unit of mass....	Brass	Smooth
	50 céntimos	22 mm	1.65 mm	5.45 g Gram The gram is a metric system unit of mass....	Cu–Zn–Ni	Reeded
	1 nuevo sol	25.5 mm	1.65 mm	7.32 g Gram The gram is a metric system unit of mass....	Cu–Zn–Ni	Reeded
	1 nuevo sol	25.5 mm	1.65 mm	7.32 g Gram The gram is a metric system unit of mass....	Cu–Zn–Ni	Reeded
	1 nuevo sol	25.5 mm	1.65 mm	7.32 g Gram The gram is a metric system unit of mass....	Cu–Zn–Ni	Reeded
	2 nuevos soles	22.2 mm	2.07 mm	5.62 g Gram The gram is a metric system unit of mass....	Bi-metallic Outside ring: Steel Centre: Cu–Zn–Ni	Smooth
	5 nuevos soles	24.3 mm	2.13 mm	6.67 g Gram The gram is a metric system unit of mass....	Bi-metallic Outside ring: Steel Centre: Cu–Zn–Ni	Reeded (since 2009)

Banknotes

In 1990, banknotes for 10, 20, 50 and 100 nuevos soles were introduced. The banknote for 200 nuevos soles was subsequently 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.

Obverse	Reverse	Value (S/.)	Dimensions	Main colour	Depicted person (obverse)
		10	140 × 65 mm	Green	José Quiñones Gonzáles José Quiñones Gonzáles José Abelardo Quiñones Gonzáles was a Peruvian military aviator and national aviation hero. He sacrificed his life crashing into an Ecuadorian battery during the Battle of Zarumilla in the Ecuadorian–Peruvian war.-Combat History:Lieutenant Quinones was a fighter pilot...
		20		Orange	Raúl Porras Barrenechea Raúl Porras Barrenechea Raúl Porras Barrenechea was a Peruvian historian. He was born in Pisco, Peru on March 23, 1897 and died in Lima, Peru on September 27, 1960. He was a teacher at the Anglo-Peruvian School. As a student during the 1950s Mario Vargas Llosa worked with Porras for four and one-half years and learned a...
		50		Brown	Abraham Valdelomar Pinto Abraham Valdelomar Pedro Abraham Valdelomar Pinto was a Peruvian narrator, poet, journalist, essayist and dramatist; he is considered the founder of the avant-garde in Peru, although more for his dandy-like public poses and his founding of the journal Colónida than for his own writing, which is lyrically...
		100		Blue	Jorge Basadre Grohmann Jorge Basadre Jorge Basadre Grohmann was a Peruvian historian known for his extensive publications about the independent history of his country...
		200		Pink	Saint Rose of Lima

External links

• The Economist Peru Economic Profile
• High resolution image of a Peruvian 2 sole coin