Peruvian Sol: Currency in Peru

Brief Overview: What is the Sol?

The Sol is the legal currency of Peru and is controlled by the Banco Central de Reserva del Perú. The ISO code PEN is used in banking, at exchange offices, for transfers, and in many financial apps. Everyday price tags usually show S/ before the number, for example, S/ 25 for twenty-five Sol.

A subdivision of 100 Céntimos per Sol still exists. However, small amounts play a minor role in daily 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 revaluations, 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 led to the introduction of the Inti in 1985. 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 effect on July 1, 1991, replacing the Inti at a rate 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, Features

Everyday cash transactions in Peru mainly 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

Note on 1 and 5 Céntimos

Very small coins play almost no role in practical payment. A gradual withdrawal from circulation has been 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 daily life in denominations of 10, 20, 50, 100, and 200 Sol. The Banco Central de Reserva del Perú describes features and security details for each note.

Typical Values and Usage

• 10 and 20 Sol: common denominations 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 Simply

Several security levels are common, including watermarks, security threads, microtext, and color-changing elements when tilted. 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 at markets and smaller shops.

Sol in Everyday Life: Rounding, Change, Typical Situations

Rounding for Cash Payments

A lack of very small coins leads in practice 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 Payments 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 Safe

Exchange Office, Bank, or ATM

Several options are available: banks, official exchange offices, and ATMs. It's worth comparing prices, as rates and fees vary depending on location and time of day.

Security in Daily Payments

• Exchanging money at official exchange offices or banks reduces the risk of fraud.
• Withdrawing from ATMs in well-frequented areas lowers the risk of tampering.
• Checking banknote features when receiving change prevents later discussions.
• Keeping a small amount of cash in separate portions helps in case of loss or theft.

Invoices and Abbreviations

The abbreviation 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