The official currency of Peru is the Peruvian sol (ISO code PEN), written with the symbol S/ and divided into 100 céntimos. As of 2026, one US dollar trades for roughly 3.75 soles, and the sol stands out as one of the most stable currencies in South America thanks to decades of disciplined monetary policy.
The Sol at a Glance
The word sol means "sun" in Spanish, a fitting name for a country whose ancient Inca civilization worshipped the sun god Inti. The currency is issued and managed by the Central Reserve Bank of Peru (Banco Central de Reserva del Perú, or BCRP), founded in 1922 and widely respected for keeping inflation low and predictable.
- Name: Sol (plural: soles)
- ISO code: PEN
- Symbol: S/
- Subunit: céntimo (1/100 of a sol)
- Issuing authority: Central Reserve Bank of Peru (BCRP)
Today's sol is the product of hard-won economic reform. Where Peru once endured runaway price increases, the modern sol now anchors a relatively low-inflation economy, and the BCRP routinely targets inflation in the low single digits.
From the Inti to the Sol: A History of Reinvention
Peru's monetary story is one of repeated reinvention. The original sol dates back to 1863, but persistent inflation in the early 1980s led the government to replace it with the inti in 1985. The inti proved disastrous: during the late 1980s Peru suffered hyperinflation that at its peak exceeded several thousand percent per year, wiping out savings and making everyday prices nearly impossible to track.
In 1991, as part of sweeping market reforms, the government introduced the nuevo sol ("new sol") to replace the collapsed inti at a rate of one million intis to one nuevo sol. The reform succeeded. Fiscal discipline and an independent central bank restored confidence, and the currency held its value year after year. By 2015 the economy had been stable for so long that authorities officially dropped the word "nuevo," returning the currency to its historic name: simply the sol.
Banknotes and Coins
Peruvian banknotes circulate in denominations of S/10, S/20, S/50, S/100, and S/200, each honoring a national figure from culture, science, religion, or the military:
- S/10 — José Abelardo Quiñones, a celebrated military aviator
- S/20 — Raúl Porras Barrenechea, historian and diplomat
- S/50 — Abraham Valdelomar, writer and poet
- S/100 — Jorge Basadre, historian
- S/200 — Santa Rosa de Lima, the first canonized saint of the Americas
The reverse sides showcase Peru's natural and archaeological heritage, from native wildlife to important historic sites. Coins come in denominations of S/1, S/2, and S/5, along with smaller céntimo pieces. The S/1 coin features the national coat of arms, which includes a vicuña, the wild Andean relative of the llama. The BCRP has also issued popular commemorative coin series celebrating Peru's regions and landmarks, which have become collector favorites.
Using Money in Peru: Practical Tips
Peru remains a largely cash-based society, especially once you leave Lima and the main tourist hubs. While cards are accepted in upscale hotels, restaurants, and shops in big cities, you will need physical soles for markets, taxis, small eateries, and rural travel through the Sacred Valley or around Machu Picchu.
- Carry small bills. Breaking a S/100 or S/200 note can be difficult; vendors often lack change.
- US dollars are widely accepted at hotels and tour agencies, particularly in Cusco, but you will usually get a better deal paying in soles.
- Withdraw from ATMs in cities, where they are plentiful, and stock up on cash before heading into mountain or jungle regions where machines are scarce.
- Watch for counterfeits. Counterfeit notes do circulate, so learn the security features and inspect any bills you receive as change.
- Tipping of around 10% is appreciated at restaurants and for guides, though not always mandatory.
For more on visiting the country, exchange habits, and regional travel, see our peru country guide.
Why the Sol Matters to Peru's Economy
The sol's stability is more than a convenience for tourists; it reflects a broader economic transformation. After the chaos of the 1980s, Peru built one of the region's more credible monetary frameworks, and the currency's steadiness has supported foreign investment, mining exports, and tourism alike. Decades of low inflation have made the sol a symbol of how sound policy can rebuild trust after a crisis, which is why so many Peruvians now treat it as a dependable store of value, even if some still keep savings in dollars out of long habit.
Frequently Asked Questions
What is the currency symbol for the Peruvian sol?
The Peruvian sol uses the symbol S/, placed before the amount. For example, fifty soles is written S/50. Its international ISO code is PEN.
How many soles are in a US dollar?
As of 2026, one US dollar is worth roughly 3.75 soles, though the rate fluctuates daily with market conditions. Always check a current exchange rate before traveling or making a large purchase.
Can I use US dollars in Peru?
Yes, US dollars are accepted at many hotels, tour operators, and businesses in tourist areas like Cusco and Lima. However, you will generally get better value paying in soles, and small local vendors expect local currency.
Why is the Peruvian currency called the sol?
Sol means "sun" in Spanish. The name echoes the Inca reverence for the sun god Inti and reflects Peru's deep pre-Columbian heritage. The current sol replaced the hyperinflated inti in 1991.