- Nuevo Sol
- History of the nuevo sol
- Nuevo sol banknotes and coins
- Euro to Peruvian Nuevo Sol rate
- Where to exchange Peruvian nuevo soles in Spain
- Where to make a transfer of euros to Peruvian soles
The Sol, also called Nuevo Sol, is the official currency of Peru since 1991. It is subdivided into 100 cents. Its ISO 4217 code is PEN and its symbol is S /, which is always written before the quantity. Sol in Spanish means sun, and nuevo means new. So, Nuevo sol, stands for “New Sun”.
As of January 2020, the equivalence of the Nuevo Sol of Peru with respect to the euro is 1 euro = 3.66 PEN.
History of the nuevo sol
The currency of Peru has been changing over time, and with each change, a new name came (golden sun, inti and new sun). In the twentieth century these have been the most recent changes by time period.
- Between April 1931 and January 1985, the monetary unit of Peru was called the Sol de oro.
- Between January 1985 and June 1991, the monetary unit in force in Peru was the inti. During its short life the inti was divisible into 100 cents and one year after its launch, in January 1986 it was the unit of account in the accounting of Peruvian public and private companies. In May 1985 came the first currencies expressed in intis, and in December the first banknotes were put into circulation in December of that year.
- The nuevo sol was established in 1991 as the official monetary unit of Peru, replacing the inti. At first, the coin was called “Nuevo Sol” to differentiate it from the “old” Sun (1931-1985).
- Finally, since December 2015, the Peruvian government imposed and issued the denomination of Sol for the official currency of the country. In spite of that, the notes and coins with the denomination “nuevos soles” continue to be accepted as a means of payment and, although they are being withdrawn little by little, they circulate simultaneously with the new bills and coins denominated in Soles.
Nuevo sol banknotes and coins
The issuance of banknotes and coins of nuevos soles is the responsibility of the Central Reserve Bank of Peru, based in the capital of the country, Lima.
Peruvian Nuevo sol coins
The Sol or Nuevo Sol (S /) is divided into 100 cents (c). Currently, the following Nuevo Sol coins and their cents are in circulation:
- Cents coins of nuevos soles: 10, 20 and 50 cents.
- Coins of nuevos soles: 1, 2 and 5 nuevos soles.
The 10 and 20 cent coins are made of brass, while those of 50 cents and S / 1 are made with an alloy of copper, zinc and nickel called alpaca.
On the reverse of all Peruvian currencies the Coat of Arms of Peru is represented in the center next to the legend Central Reserve Bank of Peru and the year of issue. The obverse shows the face value of the coin, although the decorative motifs are varied. For example, in the 10 and 20 cent coins, designs found in the pre-Columbian citadel of Chan Chan are reproduced, in those of 50 cents and 1 Sun there is a stem of oak and laurel leaves.
On the other hand, the currencies of S / 2 and S / 5 are bimetallic. The outer ring is made of stainless steel, while in the inner disk, of copper, nickel and aluminum, emblematic figures of the Nazca Lines (the hummingbird and the frigate bird respectively) are represented. The value of the currency of S / 5 equals approximately a little more than one euro.
Coins of 1 cent of brass and aluminum were withdrawn from circulation in 2011. Nor are coins of 5 cents already minted, which, although still valid, are actually very scarce.
Peruvian nuevo sol banknotes
To date, the Central Reserve Bank of Peru has issued two series of banknotes, one in 1991 and another in 2011. The values of these banknotes in circulation (in brackets their color) are:
- 10 Nuevo sol banknote (green color): S / 10
- 20 Nuevo sol banknote (brown color): S / 20
- 50 Nuevo sol banknote (orange color): S / 50
- 100 Nuevo sol banknote (blue color): S / 100
- 200 Nuevo sol banknote (green-violet color): S / 200
These are the five banknotes of nuevos soles that are legally in circulation today:
10 Peruvian Nuevo sol banknote
On the obverse of this banknote appears the effigy of José Abelardo Quiñones Gonzales, a Peruvian aviator, declared a National Hero of Peru after immolating himself on an air mission against the enemy lines during the 1941 War.
On the reverse is the citadel of Machu Picchu, the most famous archaeological monument in the country, declared a World Heritage Site by UNESCO. The current exchange value of this note in Spain is about 2.50 euros.
20 Peruvian Nuevo sol banknote
Another Peruvian hero stars in the obverse of the 20 soles banknote: Mr Raúl Porras Barrenechea. Politician, historian, lawyer and diplomat, Porras was a key figure in the history of Peru in the twentieth century.
On the reverse is the Huaca del Dragon, a pre-Hispanic religious monument located in the citadel of Chan Chan. Its current exchange value in Spain is below 5 euros.
The first series of 20 nuevos soles notes was orange, a chromatic tone very similar to that of the 50 soles banknote, which is why they could be confused. For this reason, it was decided in the 2011 series to differentiate between the two banknotes, corresponding to the 20-soles brown color as in the image shown above.
50 Peruvian Nuevo sol banknote
The 50 soles red banknote presents the effigy of Abraham Valdelomar on the obverse, a leading figure in Peruvian literature.
On the reverse is the New Chavín de Huántar Temple. The counter value of this 50 soles banknote in Spain is approximately 12 euros.
100 Peruvian Nuevo sol banknote
The 100 soles bill, whose value in Sapin at currency providers is approximately 24 euros, is blue. The character that decorates its obverse is Jorge Basadre, Peruvian politician and intellectual of the twentieth century. On the reverse is an image of the Andean archeological site known as El Gran Patajén.
A 100 soles banknote is equivalent in Spain to about 25 euros.
200 Peruvian Nuevo sol banknote
The 200 soles banknote is the one with the highest value that currently exists in Peru. Its exchange value in Spain today would be of around 50 euros.
It has an undefined color that varies between violet and green, depending on the incidence of light on its surface. The main figure on the obverse is the image of Santa Rosa de Lima, while on the reverse the Santo Domingo Convent is represented, in the capital of the country.
Euro to Peruvian Nuevo Sol rate
The euro to Peruvian Nuevo sol rate is quite stable, with moderate fluctuations. If you search on Google for “euro to peruvian nuevo sol” rate, you will find dozens of websites (“currency converters”) that offer a “price” of the day. You will also see this graph with the rates of that pair of Google Finance currencies. Something like that (January 2020):
As you can see, the exchange rate in recent years has fluctuated between 3.3 PEN and 4.1 PEN per euro. But we must bear in mind that this graph represents the value of the Peruvian currency against the euro, and not that of the real paper currency, which is lower. In fact, in the currency exchange providers in Spain you can buy Peruvian soles at an exchange rate between 3.38 and 3.26 PEN for each euro depending on where you change your currency. Nothing to do with the currency euro to Peruvian sol rate.
So, when you see these values on Google and other currency converters with your mobile, you should keep in mind the following:
- It is an unofficial price, and therefore unreliable. That is, if you click on the “Disclaimer” link, you get this Google Finance warning:“Google cannot guarantee the accuracy of the exchange rates shown. Confirm the current rates before making a transaction that may be affected by changes in exchange rates. ”
- These rates you see on your phone are usually wholesale prices of the Peruvian Nuevo Sol currency against the Euro currency (currency and paper currency are not the same).
- This rate can only be accessed by banks with each other. That is, it is impossible to have these rates as a private individual. That is why it is also known as the interbank exchange rate.
If you need Nuevos soles paper currency you will have to go through the retail banknote market (bank or currency provider). This market means that Peruvian soles have had to be “transported” by someone for you to enjoy them (or bought from travelers from Peru passing through Spain previously). In other words, moving notes from one place to another has logistic costs that will make its selling price more expensive (the exchange rate that will be applied to you by the seller).
The Peruvian Nuevo Sol is not a very abundant currency in Spain. As a result of its shortage, its price is more expensive in Spain than in Peru. If you decide to buy nuevos soles in Spain, it is good to anticipate the purchase and order them online to get better rates.
To know the Euro to Peruvian Nuevo Sol exchange rate, the best thing you can do is use our currency comparator.
- Change euro to Peruvian nuevo sol (EUR-PEN)
- Change Peruvian nuevo sol to euro (PEN-EUR)
Where to exchange Peruvian nuevo soles in Spain
The three most popular places to change nuevos soles in Spain are banks, currency providers and the airport.
Of these, the least recommended place to buy is the airport and any business that charges you a commission in addition to a “margin rate” (difference between the price for which they paid the currency and the price they sell it to you).
Where to make a transfer of euros to Peruvian soles
If what you want is to make a euro to nuevo sol transfer or vice versa, then you will really be making a currency exchange and not a paper money currency exchange. In this case, the operation is different. The money does not move physically in banknotes but instead transfers balance between bank accounts expressed in different denominations: euros and soles in this case.
First of all, ask your bank what they will charge you for a currency transfer from your Euro account to another account in Peru (we assume) in Nuevo sol. Then apply the exchange rate to the amount to be sent and subtract the commission from the bank. This way you will get a final amount in soles to be received by the recipient of your euro to nuevo sol transfer.
And then compare that rate and the final soles that reach the transfer recipient with the price of a couple of companies specializing in currency transfers such as Transferwise and Currencies Direct, which collaborate with Cambiator with adjusted prices.
For example, on January 25, 2020, Transferwise applies an exchange rate of 1 euro = 3.605 soles to currency transfers with a fixed commission for 1000 euros of 16.12 euros.
And the other banks in Spain apply a less interesting rate and / or higher commissions as you can see in this table with the prices of BBVA international transfers. On the right you have the amount in Nuevos soles that the recipient of your transfer will receive with each possible player.
Therefore, we recommend clicking on our menu above, in the Transfers tab and simulating prices with Transferwise and with Currencies Direct before transferring euros to soles with your usual bank.
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