The Peruvian nuevo sol is the official currency of Peru, divided into 100 centimos. Banknotes range from 10 to 200 soles, and coins include 1, 5, 10, 20, 50 centimos, and 1, 2, 5 soles. Introduced in 1991, the nuevo sol replaced the highly devalued inti at a rate of 1 nuevo sol = 1 million intis. Coins were introduced in 1991, while banknotes followed after about six months. The sol, used since 1863, means "sun" in Spanish, symbolizing Peru. The new currency, meaning "new sun," was introduced when Peru's economy was at its lowest in South America in 1990.