Currency Rates for Peruvian nuevo sol
Currency Exchange Rates for Peruvian Nuevo Sol- Currency Information on PEN- Peruvian nuevo sol – S/. The foreign exchange currency code for PEN represents the Peruvian Nuevo Sol exchange rate.
HISTORY OF PERUVIAN NUEVO SOL
The Peruvian Nuevo Sol is the official currency of the people of Peru a Latin American country. The name was coined from the Spanish word Nuevo Sol meaning new sun. The Peruvian Nuevo Sol usually referred to as the PEN was first introduced as the countries acceptable means of payment and exchange in the 1860s. It was briefly dropped during the Chilean takeover in the country early nineteenth century but was again reintroduced in the 1930s. It continued to be in use till 1985 when in an effort to curb high inflation in the country the country currency was changed to Inti (the name of the Incas sun god). The Inti was in use till early 1991 when again the government decided to switch over to a new Sol in order to stop high inflation in the country. The new currency introduced to replace Inti was renamed the Nuevo Sol or simply put the New Sol. It has been in use ever since. The Peruvian Nuevo Sol replaced the Inti at the ratio of 1 million Inti to 1 PEN. The Central Reserve Bank of Peru or Banco Central de Reserva Del Peru is the sole authority issuing this currency in the country. The PEN has since stabilized in the exchange market as it has now been strengthened against the Dollar at the rate of around 2 to 4 PENS to a Dollar.
COINS AND NOTES
This currency is available in coins and notes. The coins are known as centimos and have the following subunits 5, 10, 20, 50 centimos plus 1, 2, 5 soles all in coins units. The notes are in the following denominations 10, 20, 50, 100, and 200 soles. One Sol is made up of 100 centimos. The coins are much more in use than the notes. The notes are beautifully adorned with faces of great men and women of the countries origin. All the coins have the portrait of a well-known Peruvian historian on one side and they all have the same size.
The currency of Peru has been in circulation since 1991, when it replaced the inti at a ratio of 1 million inti: 1 nuevo sol.
GBP to PEN
Send Money Transfer to Peru. Coins in circulation include denominations of 10, 20, and 50 centimos, 1, 2,and 5 nuevo soles, banknotes are available in denominations of 10, 20, 50 and 100 nuevo soles, 200 nuevo soles notes are available but are rarely used.