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 displayed in Sol, often with the symbol S/ . A clear overview of the history, currency, and everyday payment methods helps with planning trips, shopping in Peru, and understanding exchange rates.
At a glance
- Name: Sol
- ISO code: PEN
- Symbol: S/
- Subdivision: 1 Sol = 100 Centimos
- Publisher: Banco Central de Reserva del Perú (BCRP)
- Banknotes (common denominations): 10, 20, 50, 100, 200 Sol
- Coins (common values): 10, 20, 50 centimos and 1, 2, 5 sols
- Important name change: since December 15, 2015, Nuevo Sol has officially been called Sol again.
- Note regarding small coins: 1 and 5 centimos are rarely encountered in everyday life and have been withdrawn from circulation.
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, currency exchange, money transfers, and many financial apps. Everyday price tags usually show S/ before the number, for example, S/ 25 for twenty-five Sol.
A subdivision into 100 centimos per sol still exists. However, small amounts play a less significant role in everyday life because 1- and 5-centimo coins are practically no longer in circulation.
History of the currency in Peru
Sol de Oro as a historical starting point
Peru's monetary history includes several changes closely linked to inflation, stabilization, and economic reforms. A significant historical phase began in 1863 with the Sol de Oro , which served as the national currency for many decades. The name "Sol" remained in the collective memory and later reappeared as a modern unit of currency.
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 a further reform became necessary.
Nuevo Sol from 1991 onwards 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 . Further context is provided by the official BCRP conversion table, which relates older units. This reform was intended to strengthen price stability and confidence in the national currency.
Name change from Nuevo Sol to Sol from December 2015
Since December 15, 2015, the unit has officially been called the Sol again. This included an adjustment to the symbol: the character was changed from S/. to S/ . Existing banknotes and coins bearing the old name "Nuevos Soles" remained valid because their value did not change.
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 centimos, as well as 1, 2, and 5 sols. The coin designs regularly incorporate cultural motifs, including elements from Chan Chan or allusions to the Nazca Lines.
Current coin values in daily circulation
| Value | Material (according to BCRP) | diameter | Weight | Motif note |
|---|---|---|---|---|
| 10 Centimos | Latón | 20.50 mm | 3.50 g | Design elements from Chan Chan |
| 20 cents | Latón | 23.00 mm | 4.40 g | Design elements from Chan Chan |
| 50 Centimos | 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 | Bimetálica | 22.30 mm | 5.62 g | Nazca motif “El Colibrí” |
| 5 Soles | Bimetálica | 24.38 mm | 6.67 g | Nazca motif “El Ave Fragata” |
Note regarding 1 and 5 centimes
Very small coins play virtually no role in practical payments. A gradual withdrawal from circulation has been officially announced, including the delisting of the 5-centimo coin from January 1, 2019. Exchanging them at banks and the BCRP (Bavarian State Office for Currency) remains an option. A similar trend applies to the 1-centimo coin, which is also rarely used in everyday life.
Banknotes in Peru: Values and security features
Banknotes in Peru are commonly found in everyday circulation in denominations of 10, 20, 50, 100, and 200 Sol . The Banco Central de Reserva del Perú describes the features and security details of each note to aid in verification.
Typical values and use
- 10 and 20 Sol: common values for everyday life, transport and simple shopping
- 50 Sol: frequently used at restaurants, on excursions, and for larger purchases
- 100 and 200 Sol: often used for hotels, longer journeys or larger amounts, not always suitable for small transactions
Security features explained in an easy-to-understand way
Several security features are common, including watermarks, security threads, microtext, and color-changing elements. A quick check can be done in three simple steps: holding the banknote up to the light, looking for sharp lines and microtext, and tilting it to observe the changing effects. Further information is available, including details on the durability of banknote materials and features relevant to everyday use.
Everyday tip for cash
Smaller bills make paying easier. A mix of 10 and 20 euro notes reduces arguments about change, especially at markets and smaller shops.
Sol in everyday life: Rounds, change, typical situations
Rounding up when paying in cash
A shortage of very small coins often leads to rounded final amounts in cash payments. This rounding usually only affects the total amount at the register, not the individual item price. A focus on fair rounding in favor of the customer was officially addressed in connection with the withdrawal of the 5-centimo coin.
Dollar prices and Sol payment
In some areas, such as tours, rental cars, or larger purchases, prices are quoted in dollars. However, payment in Sol remains the standard because the Sol is the legal unit of currency. Exchange rates offered in stores may differ from bank rates due to fees and risk factors.
Card payments and cash
Card payments are often accepted in cities, shopping centers, and many hotels. Cash remains important for markets, small restaurants, bus rides, and rural areas. Having a plan that includes both payment methods reduces stress, especially during network outages or when ATMs charge short-term fees.
Exchanging money in Peru: practical and safe
Exchange office, bank or ATM
Several options are available: banks, official exchange bureaus, and ATMs. Comparing rates is worthwhile, as exchange rates and fees vary depending on location and time of day. A reputable provider will offer clearly displayed rates and verifiable documentation.
Security in everyday payment transactions
- Exchanging money at official exchange offices or banks reduces the risk of fraud.
- Withdrawing money from ATMs in busy areas reduces the risk of manipulation.
- Checking the banknote features when receiving change prevents later disputes.
- A small cash reserve in separate amounts 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 common in banking apps, online payments, or international booking systems.
FAQ about the Peruvian Sol
What banknote values are commonly used in Peru?
The usual denominations are 10, 20, 50, 100 and 200 Sol. An overview of the banknotes in circulation is maintained by the BCRP.
Which coins are considered common?
The common coins are 10, 20, and 50 centimos, as well as 1, 2, and 5 sols. The official characteristics of the coins are described in the BCRP's Cono Monetario fact sheets.
Are "Nuevo Sol" banknotes and coins still valid?
The name "Nuevo Sol" dates back to the time before the name change. Its validity as a means of payment remained unchanged because its value did not change.
What is the correct way to write 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 centimos missing from everyday life?
Very low usage led to these coins being withdrawn from circulation. Exchanging them at banks and the BCRP remained an option.
What is the conversion rate between Inti and Sol?
The 1991 reform set 1 Nuevo Sol equal to 1,000,000 Inti. The official BCRP table also shows the relationships to older units such as the Sol de Oro.
Which test provides the fastest results for banknotes?
A combination of holding the note up to the light, checking the watermark and security thread, and tilting the note to observe changing effects provides a reliable quick check. The BCRP provides a detailed description for each banknote denomination.
Sources
- Banco Central de Reserva del Perú (BCRP): Sol, name and symbol change
- Banco Central de Reserva del Perú (BCRP): Ley 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 (10, 20, 50 centimos; 1, 2, 5 sol)
- Banco Central de Reserva del Perú (BCRP): Nota informiva on the withdrawal of the 5 centimos coin
- BBVA Perú: Overview of the security features of Peruvian banknotes