The-genesis-of-Peruvian-Currency

The genesis of Peruvian Currency

26 Sep 2020  Sat

The currency of Peru is sol which is sub-divided into 100 centimos. In 1991, the sol was replaced by the inti. The sol was in circulation from 1863 to 1985. The etymology of sol is derived from the Latin solidus which means ‘sun’ in Spanish.

The Peruvian inti was named after Sun God called Incas.

The 1980s hyperinflation forced the government to abandon the inti and introduce the sol as the country's new currency. The Peruvian Congress voted to bring back sol currency in 2015.

The current coins were introduced in 1991 in denominations of 1, 5, 10, 20, and 50 centimos and 1 sol. The 2 and 5 sol coins were added in 1994.

The obverse of the circulated coins has a coat of arm and surrounded text ‘Banco Central de Reserva del Peru’. The reverse of each coin shows its denomination.

Image Courtesy: Wikipedia.com

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