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Peruvian New Sol

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Peruvian New Sol
The currency of Peru. It was introduced in 1991, replacing the inti, which had replaced the first sol in 1985. It was issued to stem hyperinflation, which had plagued Peru in the late 1980s. Its inflation rate has historically been very low and it developed a reputation as a reliable South American currency.


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The current economic slowdown exacerbated Banco Wiese's underlying trend of degenerating asset quality, with nonperforming and "refinancing credits" (restructured loans) reaching a worrisome 20% of total loans, while reserve coverage slipped to about 51% despite the allocation of Peruvian new sol (S/) 84 million (approximately US$25 million at S/3.
 
 
 
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