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. Although sol in this usage is derived from the Latin solidus (English: solid), the word also means "sun" in Spanish.
The sol was introduced in 1863 when Peru completed its decimalization, replacing the real at a rate of 1 sol = 10 reales. The sol also replaced the Bolivian peso, which had circulated in southern Peru, at the rate of 1 sol = 1.25 Bolivian pesos. Between 1858 and 1863, coins had been issued denominated in reales, centavos and escudos.
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Due to the bad state of economy and hyperinflation in the late 1980s, the government was forced to abandon the inti and introduce the sol as the country's new currency. The new currency was put into use on July 1, 1991, by Law No. 25,295, to replace the inti at a rate of 1 sol to 1,000,000 intis. Coins denominated in the new unit were introduced on October 1, 1991, and the first banknotes on November 13, 1991. Since that time,[when?] the sol has retained an inflation rate of 1.5%, the lowest ever in either South America or Latin America as a whole.[failed verification] Since the new currency was put into effect, it has managed to maintain a stable exchange rate between 2.2 and 3.66 per United States dollar.
The current coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 céntimos and 1 sol. The 2- and 5-sol coins were added in 1994. Although one- and five-céntimo coins are officially in circulation, they are very rarely used. For this reason the aluminium one-céntimo coin, introduced in December 2005, was removed from circulation on May 1, 2011. Also, five-céntimoscoin was removed from circulation on January 1, 2019. For cash transactions, retailers must round down to the nearest ten céntimos or up to the nearest five. Electronic transactions will still be processed in the exact amount. An aluminium five-céntimo coin was introduced in 2007. All coins show the coat of arms of Peru surrounded by the text Banco Central de Reserva del Perú ("Central Reserve Bank of Peru") on the obverse; the reverse of each coin shows its denomination. Included in the designs of the bimetallic two- and five-sol coin...
Banknotes for 10, 20, 50, and 100 soles were introduced in 1990. The banknote for 200 soles was introduced in August 1995.All notes are of the same size (140 x 65 mm) and contain the portrait of a well-known historic Peruvian on the obverse.
Silver Sol. I think that the article should be divide in two: silver sol and Gold sol. Silver Sol or Sol de Plata, was the money from 1863 until 1898. After that, sol was only a 1/10 equivalent of the Peruvian Libra. I write an article in wiki in spanish about Sol de Plata. You can see here.
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 inti = 1,000,000,000 old soles. 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.
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After the country experienced 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, at which time the new sol had a cumulative value of one billion old soles.
Peruvians (Spanish: peruanos) are the people of Peru.There were Andean and coastal ancient civilizations like Caral, who inhabited Peruvian territory for several millennia before the Spanish conquest in the 16th century; Peruvian population decreased from an estimated 5–9 million in the 1520s to around 600,000 in 1620 mainly because of infectious diseases.
An ancient god of Mesopotamian origin, he was introduced (c.220) into Roman religion as Sol Invictus by emperor Heliogabalus. His worship remained an important cult of Rome until the rise of Christianity.