PEN (Peruvian Nuevo Sol)

DEFINITION of 'PEN (Peruvian Nuevo Sol)'

The currency abbreviation or currency symbol for the Peruvian nuevo sol (PEN), the currency of Peru. The Peruvian nuevo sol is made up of 100 céntimo and is often represented by the symbol S/. The word "sol" is Spanish for "sun," and its use here is meant to give power to the Peruvian people.

BREAKING DOWN 'PEN (Peruvian Nuevo Sol)'

The high inflation in Peru during the 1980's forced the country to revalue their currency. The nuevo sol replaced the previous currency, the inti, at a rate of 1,000,000 to 1. A currency referred to as the old sol was used before the inti. It was replaced by the inti for the same reason the nuevo sol replaced the inti - hyperinflation.

RELATED TERMS
  1. PEN

    In currencies, this is the abbreviation for the Peruvian Nuevo ...
  2. ARS (Argentinian Nuevo peso)

    The currency abbreviation, or currency symbol, for the Argentinian ...
  3. Currency Symbol

    A graphical symbol used as a substitute for the actual name of ...
  4. Hard-Coded Stock

    This is a term that refers to a company's stock symbol or ticker ...
  5. UYU (Uruguayan Peso)

    The currency abbreviation for the Uruguayan peso (UYU), the currency ...
  6. JPY

    The currency abbreviation or the currency symbol for the Japanese ...
Related Articles
  1. Investing

    4 Failed Currencies and Why They Crashed

    It’s unusual for a currency to fail so badly that it has to be replaced. But history provides a few painful examples.
  2. Retirement

    Can You Retire In Spain With $200,000 of Savings?

    How far will a modest nest egg take you in Spain? Here's a look at the cost of retiring on the Costa del Sol, or in one of Spain's culturally rich cities.
  3. Retirement

    Want to Retire In Spain? 3 Regions to Check Out

    Explore well beyond the Costa del Sol before deciding to make Spain your retirement home.
  4. Retirement

    How Much Money Do You Need to Retire in Spain?

    A soft Spanish real-estate market and the strong U.S. dollar make Spain considerably more affordable for American retirees than most of the United States.
  5. Financial Advisor

    The Best 4 Places To Invest In Latin America

    Far from stagnant growth, crushing inflation or political instability, these Latin American nations deserve consideration for your investment dollars.
  6. Markets

    Infrastructure Investment & Institutional Reforms

    There has been a lot of buzz in the market lately about the prospect for growth and stability in Latin America.
  7. Trading

    Simulator How-To Guide: Ticker Symbol Look Up

    As you noticed while you were buying shares of Wal-Mart, all brokerages (simulated or not) require you to input the company's stock symbol to place any trade. In fact, all stock exchanges employ ...
  8. Trading

    Keeping Securities Clear With Ticker Symbols

    A ticker symbol is a group of characters that represent a specific, publicly traded security that’s listed on an exchange.
  9. Retirement

    How Much Money Do You Need to Retire in Peru

    Peru has a low cost of living so you can live cheaply there – or enjoy a lavish lifestyle for far less than at home.
  10. Investing

    Understanding The 2010 Options Symbology

    There is a wealth of information in the expanded option symbols, but they should make things easier for traders.
RELATED FAQS
  1. Do hedge funds have ticker symbols?

    Discover whether or not hedge funds have ticker symbols, where you can find ticker symbols and the significance of a ticker ... Read Answer >>
  2. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  3. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency. ... Read Answer >>
  4. Why do forex traders use a currency converter?

    All currencies are quoted in pairs - one country's currency against another country's currency. A currency converter is used ... Read Answer >>
  5. Why do some stock symbols have three letters while others have four? What is the ...

    Stocks found on the New York and American Stock Exchange will normally have symbols with three letters or fewer. On the other ... Read Answer >>
  6. What is foreign exchange?

    Foreign exchange, or Forex, is the conversion of one country's currency into that of another. In a free economy, a country's ... Read Answer >>
Hot Definitions
  1. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center