Peruvian Currency

The nuevo sol is the Peruvian currency, which is divided into 100 centavos, and has its origins in the world crisis of 1929. Economic and monetary difficulties led the Peruvian government of the time to create the Central Reserve Bank of Peru. The objective of this body was clear: to replace the currency of the time (the “inti”) with the new sol, with a view to stabilization.

At the time of the substitution, one new sol was equal to one million intis (one billion old soles). The old sol itself has a fascinating history. Originally created as an official currency in the 1860s, it was replaced by other currencies during the Chilean occupation of Peru. It was reintroduced in the 1930s and replaced by the inti in the 1980s.

The value of the Nuevo Sol
If you’re wondering how your currency would be valued in Nuevo Soles, the conversion is simple. One US dollar is equivalent to 3.71 Soles. Meanwhile, one Canadian dollar will cost you about 2.76 Soles. The Australian dollar is equivalent to a little less, currently worth 2.42 Soles, and the Euro is equivalent to 4.10 Soles.

Denominations of the Nuevo Sol
Today, the nuevo sol comes in a variety of banknotes and coins:

Banknotes: Denominations include 10, 20, 50, 100, and 200 soles. Each note features important historical figures like Túpac Amaru II, Abraham Valdelomar, and María Rostworowski, as well as iconic landscapes and archaeological sites.

Money: The money in circulation includes 10, 20, and 50 céntimos and 1, 2, and 5 soles. Peruvian money also features cultural and natural symbols, such as the vicuña and the potato.

Symbolism on Peruvian coins

Peruvian coins bear different symbols on the obverse. The 10-cent coin, for example, shows ancient reliefs discovered at the archaeological site of Chan Chan, the largest pre-Columbian city in the Americas and the capital of the Chimú culture. The 20-cent coin also bears these ancient reliefs. The obverse of the 50-cent coin is different. The left side of the denomination bears a delicate laurel and oak branch and the right side features the Mint logo.

Tips for using money in Peru
If you plan to visit Peru, here are some valuable tips:

Currency exchange: To avoid issues with counterfeit bills, it’s recommended to exchange money at authorized exchange houses or banks. Airports also offer exchange services, though at less favorable rates.
ATMs: ATMs are available in almost every city, and they allow you to withdraw soles directly from your bank account. However, be aware of the fees your bank may charge.
Credit/debit cards: These are widely accepted at most tourist establishments, hotels, and restaurants, but it’s always handy to have some cash, especially in rural areas.

Be cautious with damaged currency
When planning your trip to Peru, it’s essential to know that many places will only accept bills that are in good condition. To avoid issues when making payments, try not to accept torn, heavily worn, or taped-up bills.

Damaged US dollars are also not accepted in Peru. Merchants will reject foreign bills that are dirty or damaged, so it’s best to carry clean bills, both in soles and dollars. If you end up with damaged bills, you can exchange them for free at the Central Reserve Bank (BCR) or the Banco de la Nación in any city.

Symbols on Peruvian Banknotes

Peruvian Banknotes As mentioned above, all banknotes feature images of Peruvians who have left their mark on their country’s history and/or culture. Like the soles and nuevos soles, the banknotes have undergone many design changes, although they retain the images of the key historical figures they represent.

The 10 nuevos soles banknote features José Abelardo Quiñones Gonzáles, a famous Air Force captain and celebrated national hero. The reverse of the banknote features the beautiful archaeological site of Machu Picchu.
The 20 banknote features the historian, professor, politician and diplomat, Raúl Porras Barrenechea on the obverse and the Huaca wall (an adobe pyramid from the ancient city of Chan Chan).
The 50 banknote features an image of the famous Peruvian poet, Abraham Valdelomar Pinto on the obverse and the New Temple of Chavín de Huantar on the reverse.
The 100 Soles note bears the image of Pedro Paulet, an engineer and architect (to name just a few of his many professions), while the reverse features the image of the wonderful spatula-tailed hummingbird (a hummingbird only found in the northern Andes of Peru).
The 200 Soles note features Saint Rose of Lima (the patron saint of Lima, the Philippines, Latin America, and India) on the obverse and the Sacred City of Caral on the reverse.

Tipping in Peru
While using credit cards is recommended in Peru, it’s also helpful to carry some cash, especially for tipping. Tipping is less common in Peru, so having local currency on hand can be convenient. You can’t always add a tip to your bill, so keep that in mind. Generally, about 10% of the service cost is left as a tip.

Peru’s currency is colorful, creative, and deeply symbolic. Each note and banknote tells of the achievements of notable Peruvians and/or the beauty of the Peruvian landscape. Each image inspires further research, due to its symbolic meaning. The entire collection of coins tells the story of a land with a fascinating history and a rich cultural and natural heritage.