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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 Inti million was a currency unit adopted on 1st January 1991, by the Supreme Decree n.º 326-90-EF [1] accepted on 16th December 1990. This unit was in force until 1 July 1991. Both prices and accounting records were expressed in millions of Intis with all the zeros removed. [2]
Peru's sol has become Latin America's most stable currency, shaking off political turmoil in the nation that's had five presidents in as many years and seen deadly protests. That has in turn ...
Peru's had switched its currency twice from 1985 to 1990. In 1985, President Alan Garcia introduced the Peruvian inti, a short-lived currency that valued 1000 Peruvian soles. Banknotes were initially printed in values of 10, 50, and 100 intis, however banknotes subsequently were printed in larger quantities due to continued hyperinflation ...
North Peru issued 1 ⁄ 2, 1, and 8 reales, 1 ⁄ 2, 1, 2, 4 and 8 escudos whilst South Peru issued 1 ⁄ 2, 2, 4 and 8 reales, 1 ⁄ 2, 1 and 8 escudos. In 1856, production of all coins ceased. Smaller 1 ⁄ 2 and 1 real coins were introduced in 1858 and 1859, respectively, along with 50 centimos in 1858 and then 25 and 50 centavos in 1859.
As a result of chronic inflation, the Peruvian currency, the sol, was replaced by the inti in mid-1985, which itself was replaced by the nuevo sol in July 1991; the new currency had an equivalent value of one billion old soles. During García's administration, the per-capita annual income of Peruvians fell to $720, which was below 1960 levels ...
Counterfeit money is currency produced outside of the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery , and is illegal in all jurisdictions of the world.