The law of 15 December 2015 established the change of the name of the monetary unit from “nuevo sol” to “sol.” The changeover is happening in two stages:

1. All documents and contracts dated before 2016 expressed in “nuevos soles” are to be understood as done in “soles.” During 2016 and 2017 both names can be used indistintly.
2. After 1 January 2018 all prices, contracts and documents must be expressed only in “soles.”

Current banknotes will continue to be legal tender, and notes denominated in “soles” will be printed as current stocks are exhausted.

Source: Banco Central de Reservas del Peru.

©2017 Monetary Research Institute