Currency Rate
Peruvian Nuevo Sol to USD
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Buying rate
PEN 0.255883
Selling rate
PEN0.297832
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The Peruvian sol (symbol: S/.; code: PEN) is the official currency of Peru.
Currency Details
- Country code PE
- Symbol PEN
- ISO Code PEN
- Subunits 1 Sol = 100 Céntimos
Coins
- 10 céntimos
- 20 céntimos
- 50 céntimos
- 1 sol
- 2 soles
- 5 soles
Banknotes
- 10 soles
- 20 soles
- 50 soles
- 100 soles
- 200 soles
The Peruvian Sol, abbreviated as PEN and symbolized as "S/", is the official currency of Peru. Divided into 100 céntimos, it represents one of South America's most stable currencies. Introduced in 1991 as the "nuevo sol" (replacing the hyperinflated inti), it was renamed simply "sol" in 2015, marking Peru's economic recovery and renewed confidence.
History and Background
The sol's name harks back to Peru's 19th-century currency, revived after the economic crisis of the 1980s when inflation peaked at 7,000%. The 1991 currency reform (1 nuevo sol = 1,000,000 intis) was a turning point in Peru's financial history. Today's banknotes feature iconic Peruvians like writer Abraham Valdelomar (S/10) and saint Santa Rosa de Lima (S/200), while coins display Peru's rich biodiversity including the llama and vicuña.
The sol's name harks back to Peru's 19th-century currency, revived after the economic crisis of the 1980s when inflation peaked at 7,000%. The 1991 currency reform (1 nuevo sol = 1,000,000 intis) was a turning point in Peru's financial history. Today's banknotes feature iconic Peruvians like writer Abraham Valdelomar (S/10) and saint Santa Rosa de Lima (S/200), while coins display Peru's rich biodiversity including the llama and vicuña.
Economic Significance
Managed by the Central Reserve Bank of Peru, the sol benefits from Peru's strong macroeconomic policies and mineral wealth (world's #2 copper producer). Unlike some neighbors, Peru has avoided dollarization - the sol accounts for about 70% of loans and deposits. Its stability makes it a regional outlier, with inflation consistently low (under 3% since 2014). The sol's value correlates with mineral prices, especially copper and gold exports that drive Peru's economy.
Managed by the Central Reserve Bank of Peru, the sol benefits from Peru's strong macroeconomic policies and mineral wealth (world's #2 copper producer). Unlike some neighbors, Peru has avoided dollarization - the sol accounts for about 70% of loans and deposits. Its stability makes it a regional outlier, with inflation consistently low (under 3% since 2014). The sol's value correlates with mineral prices, especially copper and gold exports that drive Peru's economy.
Usage and Exchange
Soles are essential throughout Peru, though US dollars are accepted in tourist areas and for large purchases. ATMs dispense both currencies, but local transactions use soles. Best exchange rates are found at authorized casas de cambio in Lima, Cusco, and Arequipa rather than hotels. Unique features: • Polymer notes (S/10 and S/20) resist Peru's humid climate • The S/1 coin is called a "sol" while bills are "soles" • Vendors may scrutinize large bills (S/100 or S/200) for authenticity
Conclusion The Peruvian sol mirrors the nation's journey - from ancient Inca wealth to colonial silver pesos, through economic turmoil to current stability. Whether bargaining at Lima's markets or visiting Machu Picchu, handling soles connects visitors to Peru's living history. As Peru balances mineral wealth with sustainable development, its currency remains a proud symbol of resilience in the Andean economy.
Soles are essential throughout Peru, though US dollars are accepted in tourist areas and for large purchases. ATMs dispense both currencies, but local transactions use soles. Best exchange rates are found at authorized casas de cambio in Lima, Cusco, and Arequipa rather than hotels. Unique features: • Polymer notes (S/10 and S/20) resist Peru's humid climate • The S/1 coin is called a "sol" while bills are "soles" • Vendors may scrutinize large bills (S/100 or S/200) for authenticity
Conclusion The Peruvian sol mirrors the nation's journey - from ancient Inca wealth to colonial silver pesos, through economic turmoil to current stability. Whether bargaining at Lima's markets or visiting Machu Picchu, handling soles connects visitors to Peru's living history. As Peru balances mineral wealth with sustainable development, its currency remains a proud symbol of resilience in the Andean economy.