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The sol (Spanish pronunciation:; plural: soles; currency sign: S/) [3] is the currency of Peru; it is subdivided into 100 céntimos ("cents"). The ISO 4217 currency code is PEN . The sol replaced the Peruvian inti in 1991 and the name is a return to that of Peru's historic currency, as the previous incarnation of sol was in use from 1863 to 1985.
The Central Reserve Bank of Peru (Spanish: Banco Central de Reserva del Perú; BCRP) is the Peruvian central bank.It mints and issues metal and paper money, the sol.. Its branch in Arequipa was established in 1871, [citation needed] and it served the city by issuing money as well as maintaining a good reputation for savings accounts in Southern Peru.
The exchange rate is set on a daily basis by the Banco Central de Reserva del Perú (Central Reserve Bank of Peru). The sol is divided into 100 céntimos . The highest-denomination banknote is the 200 soles note; the lowest-denomination coin is the rarely used 5 céntimos coin.
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Peru's gross domestic product at the start of the decade (in constant 2010 USD) was $64.7 billion. By 1990, Peru's gross domestic product had devalued to $58.5 billion. It would take until 1996 for the country's GDP to reach levels higher than those in the 1980s. [ 16 ]
In 1862, the Peruvian government decreed the metric system to be official in Peru. However, several years later the old measurements were still used. In 1869, a new law made the metric system compulsory. In 1875 Peru adhered to the International Bureau of Weights and Measures in Sèvres, France.
The Congress of the Republic of Peru (Spanish: Congreso de la República) is the unicameral body that assumes legislative power in Peru.Due to broadly interpreted impeachment wording in the Constitution of Peru, the President of Peru can be removed by Congress without cause, effectively making the legislature more powerful than the executive branch.
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