Peru currency changes name from “nuevo sol” to “sol” on 15.12.2015

According to an article on Gestión dated 14 December 2015, the Peruvian congress has passed a law changing the name of the country’s currency from nuevo sol (new sun) to sol (sun, symbol S/). On 1 July 1991, the nuevo sol replaced the inti at a rate of 1:1,000,000, effectively making the new sol worth 1 trillion “old” soles.This latest renaming was done to streamline economic transactions and adapt to economic reality.

No word yet on when the the Banco Central de Reserva del Perú intends to issue new notes denominated in sols.

Courtesy of Juan Carlos.

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