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The sol (Spanish pronunciation:; plural: soles; currency sign: S/) [3] is the currency of Peru; it is subdivided into 100 céntimos ("cents"). The ISO 4217 currency code is PEN . The sol replaced the Peruvian inti in 1991 and the name is a return to that of Peru's historic currency, as the previous incarnation of sol was in use from 1863 to 1985.
The sol, later sol de oro (English: gold sol), was the currency of Peru between 1863 and 1985. It had the ISO 4217 currency code PES. It was subdivided into 10 dineros or 100 centavos. It also had two different superunits over its circulation life, the inca (1881–1882) and later the gold pound (1898–1931, abbreviated Lp.
The nuevo sol ("new sol") was adopted on 1 July 1991, replacing the inti at an exchange rate of a million to one. Thus: 1 new sol = 1,000,000 intis = 1,000,000,000 soles de oro. Inti notes and coins are no longer legal tender in Peru, nor can they be exchanged for notes and coins denominated in the current nuevo sol.
The Central Reserve Bank of Peru (Spanish: Banco Central de Reserva del Perú; BCRP) is the Peruvian central bank.It mints and issues metal and paper money, the sol.. Its branch in Arequipa was established in 1871, [citation needed] and it served the city by issuing money as well as maintaining a good reputation for savings accounts in Southern Peru.
The numismatic series Wealth and Pride of Peru ("Riqueza y Orgullo del Perú" in Spanish) were minted by the Central Reserve Bank of Peru with the aim of promoting a numismatic culture and disseminate the cultural heritage of Peru.
The National Mint of Peru (Spanish: Casa Nacional de Moneda), also known as the Mint of Lima (Spanish: Casa de Moneda de Lima), is a mint located in the neighbourhood of Barrios Altos, in the city of Lima, Peru. Its origin dates back to 1565. [1] [2]
On February 1, 1985, the sol was replaced by the inti with a value of 1,000 soles, although the monetary transition concluded only in January 1986. [ 11 ] Additionally, a diplomatic crisis between Cuba and Peru began when six Cubans made their way into the Peruvian embassy in the country on April 1, 1980, seeking political asylum .
The peseta was a short-lived denomination issued by Peru between 1880 and 1882. The peseta was subdivided into 2 reales, with 5 pesetas equal to 1 sol.The sol continued to be produced during this period and was not replaced by the peseta.