Peruvian inti

Infobox Currency
currency_name_in_local =
image_1 = Peru 100 Awers.jpg
image_2 = Peru 100 Rewers.jpg
image_title_1 = Obverse of 100 intis
image_title_2 = Reverse of 100 intis
iso_code = PEI
using_countries = Peru
inflation_rate =
subunit_ratio_1 = 1/100
subunit_name_1 = céntimo
symbol = I/.
plural = intis
used_banknotes = 5 000, 10 000, 50 000, 100 000, 500 000, 1 000 000, 5 000 000 intis
issuing_authority = Central Reserve Bank of Peru
issuing_authority_website = www.bcrp.gob.pe
obsolete_notice = YThe inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was "PEI" and its abbreviation in local use was "I/.". Although they soon became worthless, the inti was divided into 100 céntimos.

The inti was named after Inti, the Inca sun god, to maintain the solar connection in the naming of Peru's currency (although, "sol" in the currency sense was actually ultimately derived from the Latin Solidus).

History

The inti was introduced on 1 February 1985, replacing the sol which had suffered from high inflation. One inti was equivalent to 1,000 soles. Coins denominated in the new unit were put into circulation from May 1985 and banknotes followed in June of that year.

By 1990, the inti had itself suffered from high inflation. As an interim measure, from January to July 1991, the "inti en millones" (I/m.) was used as a unit of account. One inti en millones was equal to 1,000,000 intis and hence to one new sol. The "nuevo sol" ("new sol") was adopted on 1 July 1991, replacing the inti at an exchange rate of a million to one. Thus: 1 new sol = 1,000,000 inti = 1,000,000,000 old soles.

Inti notes and coins are no longer legal tender in Peru, nor can they be exchanged for notes and coins denominated in the current "nuevo sol".

Coins

Coins were introduced in 1985 in denominations of 1, 5, 10, and 50 centimos, plus 1 and 5 intis. 20-céntimo coins were introduced in 1986. The 1 céntimo coin was issued only in 1985. The 5-céntimo coins were issued until 1986. All the other denominations were issued until 1988.

Banknotes

In 1985, notes were issued in denominations of 10, 50, 100 and 500 intis. The next year, 1,000 intis notes were added, followed by 5,000 and 10,000 in 1988. 50,000 and 100,000 intis notes were added in 1989. 500,000 intis denominations were added in early 1990, 1 million intis denominations were added in mid-1990, and 5 million intis in August of 1990. The obverses featured:
*10 intis - Ricardo Palma, writer
*50 intis - Nicolás de Piérola, President, finance minister
*100 intis - Ramón Castilla, President, Army Marshal
*500 intis - Túpac Amaru II, revolutionary leader
*1,000 intis - Andrés Avelino Cáceres, President, Army Marshal
*5,000 intis - Miguel Grau, Navy admiral
*10,000 intis - César Vallejo, writer
*50,000 intis - Victor Raúl Haya de la Torre, politician
*100,000 intis - Francisco Bolognesi, Army colonel
*500,000 intis - Ricardo Palma
*1,000,000 intis - Hipólito Unanue, medical doctor, nationalist
*5,000,000 intis - Antonio Raimondi, scientist

ee also

* Economy of Peru

External links

Standard numismatics external links
world_coin_gallery_1_url = Peru
world_coin_gallery_1_name = Peru
banknote_world_1_url = peru
banknote_world_1_name = Peru
dollarization_1_url =
dollarization_1_name =
gfd_1_url = Peru
gfd_1_name = Peru
show_gfd_excel = Y