Peru Banknotes: The Sol, the Inti & Collecting Guide
Between 1985 and 1991 Peru left the sol, adopted the inti, watched it collapse in one of the worst hyperinflations ever recorded, and returned to the sol, nine zeros lighter. Few collecting areas pack that much monetary drama into six years of paper.
Last updated: July 2026
Peru's currency today is the sol, issued by the Central Reserve Bank of Peru, but from 1985 to 1991 the country used the inti, a currency destroyed by hyperinflation in barely six years. When the nuevo sol arrived on 1 July 1991, one new sol equaled 1,000,000 intis, and one billion of the soles that had circulated before 1985. That collapse left behind the high-denomination inti notes that make Peru such a compelling collecting area. This hub covers the currency history, the verified numbers, and how to build a Peru collection.
What is the history of the Peruvian sol and inti?
Peru introduced the sol in 1863, replacing the real, and the sol, later officially the sol de oro, served the country for more than 120 years. By the mid-1980s inflation had hollowed it out, and on 1 February 1985 Peru replaced it with the inti at 1,000 soles de oro to 1 inti. The name was a deliberate echo: sol is Spanish for sun, and the inti was named after Inti, the sun god of the Incas, so Peru's money kept its solar identity even as the zeros piled up.
| Currency era | Years in use | What collectors look for |
|---|---|---|
| Sol (sol de oro) | 1863 to 1985 | The long-lived classic era, over a century of Peruvian paper ending in the inflationary notes of the early 1980s. |
| Inti | 1985 to 1991 | The hyperinflation currency. High-denomination notes up to 5,000,000 intis are the signature Peru collectible. |
| Nuevo sol | 1991 to 2015 | The stabilization currency that ended the crisis, replacing the inti at 1,000,000 to 1. |
| Sol (current) | 2015 to present | The same currency renamed, with a modern series from 2021 honoring Peruvian writers, artists, and scientists. |
How bad was Peru's hyperinflation?
Bad enough to enter the record books twice. The Hanke-Krus World Hyperinflation Table (Cato Institute), the standard reference for hyperinflation episodes, lists two Peruvian entries, both under the inti. The first was a one-month episode in September 1988, when monthly inflation hit 114 percent. The second ran through July and August 1990 and peaked at 397 percent per month in August 1990, with prices doubling roughly every 13 days. That August peak ranks 12th among all the hyperinflations in the table, and it came in the very month the incoming government of Alberto Fujimori launched the shock stabilization Peruvians remember as the Fuji shock, freeing controlled prices in a single stroke.
To see where Peru's episodes sit against Zimbabwe, Hungary, Germany, and the rest of the record book, read our full ranking in every hyperinflation ranked.
What was the 1991 nuevo sol reform?
On 1 July 1991 Peru replaced the inti with the nuevo sol at 1,000,000 intis to 1 nuevo sol. Because the inti had itself replaced the sol de oro at 1,000 to 1, a single nuevo sol equaled one billion of the old soles. The transition was so lopsided that from January to July 1991 Peru used a temporary accounting unit, the inti millon, worth exactly one million intis, to keep the arithmetic manageable.
The reform stuck. The nuevo sol stabilized, and in November 2015 Peru's Congress voted to shorten the name to simply sol. Today the Central Reserve Bank of Peru issues notes from 10 to 200 soles, and the series introduced from 2021 celebrates figures such as the singer and composer Chabuca Granda and the writer Jose Maria Arguedas.
Which Peruvian banknotes are most collectible?
The high-denomination inti notes are the headline pieces. As inflation accelerated, the Central Reserve Bank of Peru kept adding zeros, and the top of the range tells the story on its face. The 1,000,000 intis note, featuring the physician and independence-era statesman Hipolito Unanue, was first printed in January 1990. The 5,000,000 intis note, featuring the scientist Antonio Raimondi, followed the same month, with a second variant printed in January 1991. Run the conversion and the punchline lands: when the nuevo sol arrived, that 5,000,000 intis note, the largest of the era, converted to just five nuevos soles.
Because the redenomination retired the inti quickly, many notes reached collectors crisp and unspent, so Uncirculated examples are more available than the era's chaos might suggest. Condition still drives value, so learn the ladder in our banknote grading guide, and keep our banknote glossary handy for terms like UNC and demonetized.
Where can you buy Peruvian banknotes?
Buy from a source-first dealer that documents where its notes come from and stands behind them in writing. Planet Banknote's inventory changes constantly, so rather than promise specific Peruvian notes, we point you to the live categories: browse the full country directory to see what is in stock, or start with a curated hyperinflation set that puts notes from history's great monetary collapses side by side. If you want independent confirmation of grade and authenticity, graded banknotes certified by PMG or PCGS arrive sealed in tamper-evident holders. And before buying inti notes anywhere, know the basics of spotting counterfeit banknotes.
Frequently asked questions
What currency does Peru use today?
Peru uses the sol, issued by the Central Reserve Bank of Peru. It was introduced on 1 July 1991 as the nuevo sol, replacing the inti at 1,000,000 to 1, and Peru's Congress voted to shorten the name to simply sol in November 2015. Current notes run from 10 to 200 soles.
What was the Peruvian inti?
The inti was Peru's currency from 1985 to 1991. Introduced on 1 February 1985 at 1,000 soles de oro to 1 inti, it was named after Inti, the sun god of the Incas, echoing the Spanish word sol, meaning sun. Hyperinflation destroyed its value within a few years, and the nuevo sol replaced it on 1 July 1991.
How bad was Peru's hyperinflation?
The Hanke-Krus World Hyperinflation Table (Cato Institute) records two Peruvian episodes, both under the inti: one in September 1988 that peaked at 114 percent monthly inflation, and one in July and August 1990 that peaked at 397 percent per month, with prices doubling roughly every 13 days. The August 1990 peak ranks 12th among all hyperinflations in the table.
How many intis equaled one nuevo sol?
One million. The nuevo sol replaced the inti at 1,000,000 intis to 1 nuevo sol on 1 July 1991. Because the inti had itself replaced the sol de oro at 1,000 to 1 in 1985, one nuevo sol equaled one billion of the old soles. In the first half of 1991 Peru even used a transitional accounting unit, the inti millon, worth exactly one million intis.
Are Peruvian inti banknotes worth collecting?
Yes. The inti era lasted barely six years and ended in a million-to-one redenomination, so its high-denomination notes, including the 1,000,000 intis note featuring Hipolito Unanue and the 5,000,000 intis note featuring Antonio Raimondi, are classic hyperinflation collectibles. The notes are demonetized, so value comes from condition, scarcity, and story rather than face value.
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