Peruvian Sol - PEN

Overview

The Peruvian Sol is the currency of Peru, managed by the Central Reserve Bank of Peru. It replaced the inti in 1991 and has been one of Latin America's more stable currencies, supported by strong economic fundamentals and prudent monetary policy.

Economy

  • Peru is a member of Pacific Alliance, UNASUR, OAS, Andean Community, APEC.
  • Main industries include: Mining and refining of minerals, Steel, Metal fabrication, Petroleum extraction and refining, Natural gas and natural gas liquefaction, Fishing and fish processing, Cement, Glass, Textiles.
  • Peru is part of the World Trade Organization.
  • Imports are petroleum and petroleum products, chemicals, manufactured goods, machinery, transport equipment, iron and steel, wheat, corn, soybean products.
  • Major exports include copper, gold, lead, zinc, tin, iron ore, molybdenum, silver, crude petroleum, natural gas.
  • GDP: $242.6 billion (2023 est.).
  • GDP per capita: $7,237 (2023 est.).
  • Unemployment rate: 7.2% (2023 est.).
  • Inflation rate: 6.5% (2023 est.).
  • Main trading partners: China, United States, Brazil, Canada, South Korea, Japan.
  • Trade agreements: Peru-US Trade Promotion Agreement, Pacific Alliance, CPTPP.

History

  • Previous currencies used: Inti, Sol de oro, Historical sol.
  • The current sol was introduced in 1991, replacing the inti at 1,000,000:1. The name 'sol' comes from the Latin word for sun, reflecting the Inca sun god Inti.
  • 1863: First sol introduced
  • 1985: Inti introduced to combat hyperinflation
  • 1991: New sol introduced (1,000,000:1 vs inti)
  • 2015: 'Nuevo' dropped, became simply 'sol'
  • 2020: COVID-19 pandemic economic impact
  • Exchange rate peg: Free floating since 1991.

General Information

  • ISO 4217 Code: PEN
  • Symbols: PEN/S/.
  • Currency Subunits: 100 céntimos
  • Central Bank: Central Reserve Bank of Peru
  • Monetary Policy: Inflation targeting with 2% target (±1% tolerance band). Flexible exchange rate with occasional interventions.
  • Bills: 10 soles, 20 soles, 50 soles, 100 soles, 200 soles
  • Coins: 1 céntimo, 5 céntimos, 10 céntimos, 20 céntimos, 50 céntimos, 1 sol, 2 soles, 5 soles
  • USD Exchange Rate: Variable (approximately 3.7 PEN per USD)
  • Pegged To: None (Floating)
  • Capital: Lima
  • Population: 33,715,471 (2023 est.)
  • Area: 1,285,216 km²
  • Languages: Spanish (official) 82.9%, Quechua (official) 13.6%, Aymara (official) 1.6%, Other native languages 0.8%, Other 1.1%
  • Time Zones: UTC-5 (Peru Time)
  • Government Type: Presidential republic
  • Head of Government: President (head of state and government)
  • Independence: July 28, 1821 (from Spain)
  • Ethnic Groups: Mestizo 60.2%, Amerindian 25.8%, White 5.9%, African descent 3.6%, Other 1.2%, Unspecified 3.3%
  • Religions: Roman Catholic 60%, Christian 14.6%, Other 2.3%, None 21%, Unspecified 2.1%
  • Literacy Rate: 94.5% (2018 est.)
  • Transport: Jorge Chávez International Airport, Pan-American Highway, railways, Amazon river transport, Pacific ports
  • Communications: Good telecommunications, 66% internet penetration, extensive mobile coverage
  • Energy: Natural gas 54%, Hydroelectric 22%, Petroleum 11%, Coal 2%, Renewables 11%
  • Countries Using This Currency: Peru
  • Data Sources: Central Bank: Central Reserve Bank of Peru (bcrp.gob.pe), Economic Data: National Institute of Statistics and Informatics, World Bank, IMF, Trade Data: National Superintendency of Tax Administration, Demographic Data: National Institute of Statistics and Informatics, Geographic Data: National Service of Meteorology and Hydrology, Historical Data: Central Reserve Bank of Peru archives
  • Last Updated: 2025