MON to PEN Converter and calculator
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Conversion rates
Convert MON to PEN
Convert PEN to MON
MON to PEN chart
MON to PEN conversion data: Volatility and price changes of Monad (mainnet arc) in PEN
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 0.001200 PEN | -- PEN | -- PEN | -- PEN |
Low | 0.0006734 PEN | -- PEN | -- PEN | -- PEN |
Average | 0 PEN | 0 PEN | 0 PEN | 0 PEN |
Volatility | % | % | % | % |
Change | +0.73% | -- | -- | -- |
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Monad (mainnet arc) information
MON to PEN market statistics
Current MON to PEN exchange rate
Monad (mainnet arc) to Peruvian Sol is falling this week.More info about Monad (mainnet arc) on Bitget
Peruvian Sol information
About the Peruvian Sol (PEN)
What Is the Peruvian Sol (PEN)?
The Peruvian Sol, with the currency symbol: S/ and the ISO 4217 code PEN, is the sole legal tender of Peru. It's subdivided into 100 céntimos. The Sol, a term derived from the Latin 'solidus' and also meaning 'sun' in Spanish, symbolizes continuity from Peru's historic currency and its rich cultural heritage.
The Peruvian Sol is issued by the Central Reserve Bank of Peru (Banco Central de Reserva del Perú). This institution is responsible for the country's monetary policy, including the issuance and regulation of the national currency. The Central Reserve Bank of Peru plays a crucial role in maintaining the stability of the Sol and overseeing the country's financial system.
What Is the History of PEN?
Before Peru's independence in 1821, the Spanish colonial real was the prevalent currency. The Inca Empire, which preceded Spanish rule, used a unique accounting system called quipu instead of physical currency. Post-independence, Peru introduced its version of the real in 1822. However, following the global economic downturn in 1929, Peru faced severe hyperinflation. In 1963, the government introduced the sol, replacing the real. However, due to political instability and economic mismanagement, the sol was replaced by the inti in the 1980s. The late 1980s saw massive hyperinflation, leading to the introduction of the Nuevo Sol in the 1990s by President Alberto Fujimori. This move stabilized the economy, leading to lower inflation and better economic stability. The Nuevo Sol was renamed simply as Sol in 2015..
Notes and Coins of PEN
The Peruvian Sol comprises various denominations in both notes and coins, reflecting a rich blend of cultural and historical significance. Notes are available in denominations of 10, 20, 50, 100, and 200 Soles, each distinctively designed with iconic Peruvian figures, cultural symbols, and landmarks. Coins, on the other hand, come in denominations of 1, 2, and 5 Soles, along with smaller céntimos coins of 5, 10, 20, and 50 céntimos.
Is PEN Pegged to USD?
No, the Peruvian Sol (PEN) is not pegged to the United States Dollar (USD). The Sol operates under a floating exchange rate system, where its value is determined by market forces such as supply and demand in the foreign exchange market. This is in contrast to a pegged exchange rate system, where a country's currency value is fixed or tied to another major currency like the USD. Peru's monetary policy, managed by the Central Reserve Bank of Peru, allows the Sol to fluctuate freely against the USD and other foreign currencies.
Is PEN a Stable Currency?
The Peruvian Sol is recognized as a stable currency, particularly in the context of Latin American economies. As of January 2024, it was hailed as the most stable currency in the region, exhibiting less intense daily fluctuations in its exchange rate compared to its peers. This stability is underscored by the Sol's modest devaluation against the US dollar, with only a 41 Sol cent decrease from November 2018 to November 2023. Contributing to this stability are Peru's strong economic fundamentals, including a trade balance surplus of nearly $15 billion and international reserves approximating $75 billion, equivalent to 28% of its Gross Domestic Product. These factors collectively underscore the Sol's resilience and reliability as a currency in the global market.
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MON to PEN Conversion tables
Amount | 23:16 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 MON | S/.0.0005820 | S/.-- | +0.73% |
1 MON | S/.0.001164 | S/.-- | +0.73% |
5 MON | S/.0.005820 | S/.-- | +0.73% |
10 MON | S/.0.01164 | S/.-- | +0.73% |
50 MON | S/.0.05820 | S/.-- | +0.73% |
100 MON | S/.0.1164 | S/.-- | +0.73% |
500 MON | S/.0.5820 | S/.-- | +0.73% |
1000 MON | S/.1.16 | S/.-- | +0.73% |
MON to PEN FAQ
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Popular exchange rates — Crypto-to-Fiat converter
The price of Monad (mainnet arc) in the US is $0.0003338 USD. Additionally, Monad (mainnet arc)’s price is €0.0002841 EUR in the eurozone, £0.0002477 GBP in the UK, C$0.0004599 CAD in Canada, ₹0.02940 INR in India, ₨0.09475 PKR in Pakistan, R$0.001777 BRL in Brazil, and more.
The most popular Monad (mainnet arc) currency pair is the MON to Peruvian Sol(PEN). The price of 1 Monad (mainnet arc) (MON) in Peruvian Sol (PEN) is S/.0.001164.
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