Peruvian Sol: Currency in Peru
The Peruvian Sol is the official currency of the Republic of Peru. Prices in restaurants, supermarkets, taxis, hotels, and online shops in the country are usually in Sol, often with the symbol S/.
A clear overview of its history, cash, and daily payment practices helps in planning trips, shopping in Peru, and understanding exchange rates.
At a Glance
Brief Overview: What is the Sol?
The Sol is Peru's legal currency and is managed by the Banco Central de Reserva del Perú. The ISO code PEN is used in banking, exchange offices, transfers, and many financial apps. The price tag in everyday life usually shows S/ before the number, such as S/ 25 for twenty-five Sol.
A subdivision into 100 Céntimos per Sol still exists. However, small amounts play a minor role in everyday life because 1 and 5 Céntimos coins are practically no longer in circulation.
History of Currency in Peru
Sol de Oro as a historical starting point
Peru's currency history includes several re-denominations closely linked to inflation, stabilization, and economic reforms. An important historical phase began in 1863 with the Sol de Oro, which was used as the national currency for many decades.
Inti and the years of high inflation
The 1980s in Peru were marked by high inflation. A currency reform in 1985 led to the introduction of the Inti. The Inti remained the official unit until June 30, 1991, before another reform became necessary.
Nuevo Sol from 1991 with clear conversion
The year 1991 brought the next major change. The Nuevo Sol came into force on July 1, 1991, replacing the Inti at a ratio of 1 Nuevo Sol = 1,000,000 Inti.
Name change from Nuevo Sol to Sol from December 2015
Since December 15, 2015, the unit has officially been called Sol again. The symbol was changed from S/. to S/. Existing banknotes and coins with the old designation "Nuevos Soles" remained valid.
Coins in Peru: Values, Motifs, Characteristics
Everyday cash transactions in Peru primarily use coins for smaller amounts. A common combination consists of 10, 20, and 50 Céntimos, as well as 1, 2, and 5 Sol.
Current coin values in daily circulation
| Value | Material according to BCRP | Diameter | Weight | Motif Note |
|---|---|---|---|---|
| 10 Céntimos | Brass | 20.50 mm | 3.50 g | Design elements from Chan Chan |
| 20 Céntimos | Brass | 23.00 mm | 4.40 g | Design elements from Chan Chan |
| 50 Céntimos | Alpaca | 22.00 mm | 5.45 g | Laurel and Oak, Casa Nacional de Moneda |
| 1 Sol | Alpaca | 25.50 mm | 7.32 g | Marca País Perú and geometric elements |
| 2 Soles | Bimetallic | 22.30 mm | 5.62 g | Nazca motif "El Colibrí" |
| 5 Soles | Bimetallic | 24.38 mm | 6.67 g | Nazca motif "El Ave Fragata" |
Note on 1 and 5 Céntimos
Very small coins hardly play a role in practical payments. A gradual withdrawal from circulation was officially communicated, including the withdrawal of the 5 Céntimos coin from circulation as of January 1, 2019.
Banknotes in Peru: Values and Security Features
Banknotes in Peru are found in everyday life in denominations of 10, 20, 50, 100, and 200 Sol. The Banco Central de Reserva del Perú describes the features and security details for each note.
Typical values and use
- 10 and 20 Sol: common values for everyday use, transport, and simple purchases
- 50 Sol: common for restaurants, excursions, and larger purchases
- 100 and 200 Sol: common for hotels, longer journeys, or larger amounts
Security features explained clearly
Several security levels are common, including watermarks, security threads, microtext, and color-changing elements when moved. A quick check can be done by holding it up to the light, looking at sharp lines, and tilting the banknote.
Everyday tip for cash
Small denominations make payment easier. A mix of 10 and 20 Sol notes reduces discussions about change, especially in markets and smaller shops.
Sol in Everyday Life: Rounding, Change, Typical Situations
Rounding for cash payments
A lack of very small coins in practice leads to rounded final amounts for cash payments. Rounding usually only affects the total amount at the checkout, not the individual item price.
Dollar prices and Sol payment
In some areas such as tours, car rentals, or larger purchases, dollar prices occur. However, payment in Sol remains standard because the Sol is the legal unit.
Card payment and cash
Card payments often work in cities, shopping centers, and many hotels. Cash remains important for markets, small restaurants, bus rides, and rural areas.
Exchanging Money in Peru: Practical and Secure
Exchange office, bank, or ATM
Several options are available: banks, official exchange offices, and ATMs. A price comparison is worthwhile because rates and fees vary depending on the location and time of day.
Security in daily payment transactions
- Exchanging money at official exchange offices or banks reduces the risk of fraud.
- Withdrawing from ATMs in well-frequented areas reduces the risk of manipulation.
- Checking banknote features when receiving change prevents later discussions.
- A small cash reserve in separate amounts helps in case of loss or theft.
Invoices and short notations
The short notation S/ regularly appears on menus, receipts, and price tags. The code PEN is more likely to appear in banking apps, online payments, or international booking systems.
Relevant PeruMagazin Pages
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Follow PeruMagazinFAQ about the Peruvian Sol
What banknote denominations are common in Peru?
The common denominations are 10, 20, 50, 100, and 200 Sol. An overview of the banknotes in circulation is maintained by the BCRP.
What coins are considered common?
The common coins are 10, 20, and 50 Céntimos, as well as 1, 2, and 5 Sol.
Are "Nuevo Sol" notes and coins still valid?
The designation "Nuevo Sol" dates from before the name change. Its validity as a means of payment remained because the value has not changed.
What is the correct spelling for the symbol?
The current spelling is S/ without a period. The change was officially described in connection with the name change.
Why are 1 and 5 Céntimos missing in everyday life?
Very low usage led to these coins being withdrawn from circulation.
What conversion applies between Inti and Sol?
The 1991 reform set 1 Nuevo Sol equal to 1,000,000 Inti.
What check helps fastest with banknotes?
A combination of holding it up to the light, checking the watermark and security thread, and tilting the note provides a solid quick check.
Sources
- Banco Central de Reserva del Perú (BCRP): Sol, Name and Symbol Change
- Banco Central de Reserva del Perú (BCRP): Law N° 30381, Name Change from Nuevo Sol to Sol
- Banco Central de Reserva del Perú (BCRP): Nuevo Sol, Introduction and Validity
- Banco Central de Reserva del Perú (BCRP): Inti, Period of Validity
- Banco Central de Reserva del Perú (BCRP): Tabla de equivalencias, Conversion of older units
- Banco Central de Reserva del Perú (BCRP): Familia de billetes, Banknotes in Circulation
- Banco Central de Reserva del Perú (BCRP): Cono monetario, Information sheets on coins
- Banco Central de Reserva del Perú (BCRP): Nota informativa on the withdrawal of the 5 Céntimos coin
- BBVA Perú: Overview of Security Features of Peruvian Banknotes
