Discover the currency and exchange rate in Peru. Up-to-date information for sound financial decisions. Get to know the new Peruvian Sol!

The sol (currency symbol: S/ is Peru's legal tender since 1991, it is divided into 100 cents. The ISO 4217 currency code is PEN. The symbol S/ is written in front of the figure.

The sol replaced the inti in 1991. The name is a return to that of Peru's historical currency, as the previous incarnation of the sol was used from 1863 to 1985. Although sol in this usage derives from the Latin solidus ('solid'), the word also designates the star of the Solar System. Thus, there is continuity with the ancient Peruvian inti, named after Inti, the Sun God of the Incas.

At its introduction in 1991, the coin was officially called nuevo sol. However, on November 13, 2015, the Peruvian Congress voted to rename it simply sol.

Peruvian coins

All Peruvian coins have the Peruvian coat of arms on one side and on the other the denomination number, accompanied by different motifs usually alluding to some special place in the country such as the Nazca Lines, its fauna or its natural resources.

• 10 cent coin: this is the smallest coin in Peru. It is golden, has motifs of the pre-Columbian citadel of "Chan Chan" in Trujillo and its edges are smooth.
• 20 céntimos coin: A little larger than the 10 céntimos coin, it is also golden, has smooth edges and motifs of the citadel of "Chan Chan".
• 50 cent coin: Colloquially called "china", it is used to pay for short trips in public transportation. Two of them add up to 1 Sol. It is smaller than the 1 Sol coin and its edges are ribbed.
• 1 sol coin: this is the most popular coin. It has ribbed edges and depending on the year of issue has different reliefs.
• 2 soles coin: Its edge is silver and its interior is golden. The reverse shows the number 2 and the image of two hummingbirds of the Nazca Lines. Its edge is intercalated with striated and smooth sections.
• 5 soles coin: it is the highest denomination coin in Peru, its edge is golden and completely smooth, it is slightly smaller in diameter than the 1 sol and has a relief of the "Ave Fragata", another of the Nazca Lines.

What about the 5 cent coin? It is a very small, silver coin that is not accepted in almost any establishment. If you get one, keep it as a souvenir or exchange it at the bank. Supermarkets are the only places that accept this monetary unit.

The Central Reserve Bank of Peru has issued several different series. In recent years they minted coins in tribute to the endangered wildlife of Peru, so if you come on a trip you can take some very special coins as souvenirs.

Naturally, you can find banknotes and coins in circulation from different years at the same time. Knowing how to identify them so as not to overpay or underpay is part of the travel experience.

We also recommend you to exchange your money for the official currency in Peru, only in authorized places such as formal exchange houses and banks.

Banks work Monday through Friday from 9 am to 6 pm and on Saturdays until noon. They do not work on Sundays, but some exchange houses do.

You can use your debit and credit cards in Peru to withdraw cash from ATMs. You can also use them in some stores, but not all of them accept them.

Keep in mind that you will be charged a commission for the use of your foreign card. The most widely accepted are VISA, MasterCard, Diners, and American Express.

Peruvian banknotes

Banknotes of 10 soles: they have a green tonality. On one side, there is the figure of the aviator José Abelardo Quiñones Gonzales and on the back, the citadel of Machu Picchu.

• 20 soles banknotes: it is brown and bears the face of the Peruvian diplomat and historian Raúl Porras Barrenechea, and an illustration of La Huaca del Dragón in the adobe citadel of Chan Chan on the reverse.
• 50 soles banknotes: it is orange in color. The obverse shows the face of the writer Abraham Valdelomar and on the reverse the Templo Nuevo Chavín de Huantar in Huaraz.
• 100 soles banknotes: they are blue and have the figure of the historian Jorge Basadre and the illustration on the back corresponds to a façade of the Gran Pajaten archaeological site.
• 200 soles banknotes: they are pink and have the image of Santa Rosa de Lima with a crown of flowers on the front and on the back the drawing of the Sacred City of Caral.

IMPORTANT: Although this 200 soles bill circulates normally, it is not very common, so if you receive one on your trip you will probably find it difficult to pay with it, because many small stores do not accept it.

Although, at the exchange rate, 200 soles are not even 100 US dollars, you can buy a lot with that amount, so you should not lose sight of the fact that if they do not accept a 200 soles bill you will be losing money.

EXCHANGE RATE

The exchange rate (ER) is the rate at which the currency of one country is exchanged for the currency of another. There are two exchange rates: nominal and real.

The first is defined as the relative price of two currencies, expressed in monetary units. The second is the relative price of two consumption baskets and is used to measure the purchasing power of a currency abroad. In addition, the exchange rate can be measured in relation to another currency (bilateral exchange rate) or to a group of currencies (multilateral exchange rate).

In Peru, the exchange rate is measured by indicating the amount of local currency (nuevos soles) that must be paid to buy one unit of foreign currency (e.g. dollars). Therefore, when the exchange rate rises (falls) there is a depreciation (appreciation) of the local currency, since more (less) soles are needed to buy the same amount of dollars.

Likewise, domestic goods become relatively cheaper (more expensive) than foreign goods, which favors the export (import) of goods and services.