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Q: Currency conversion. ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: Currency conversion.
Category: Business and Money
Asked by: jackthlion-ga
List Price: $2.00
Posted: 16 May 2005 07:05 PDT
Expires: 15 Jun 2005 07:05 PDT
Question ID: 522153
Having found a Peruvian ten "intis" note, I am curious to see how
extremely little it is worth in United States Dollars. My calculator
can't handle the math. The intis changed to Nuevos Soles in 1990 I
believe.

1 Nuevo Sole = 1,000,000 Intis
1 USD = 3.255 Peruvuan Nuevos Soles

Thanks!
Answer  
Subject: Re: Currency conversion.
Answered By: livioflores-ga on 16 May 2005 07:54 PDT
Rated:5 out of 5 stars
 
Hi!!

I found that the Law Nš 25295 from January, 1991 established as
monetary currency the Nuevo Sol in Peru.
The exchange ratio between yhe Inti and the Nuevo Sol is (as you stated):

1.00 Nuevo Sol = 1,000,000.00 Intis
http://www.bcrp.gob.pe/espanol/WTesoreria/normas-legales/ley_25295.htm

The exchange ratio between the Nuevo Sol and the US Dollar varies
slightly from one day to other, but it is in the range of the ratio
stated by you:

1.00 USD = 3.255 Nuevos Soles
or
1.00 Nuevo Sol = 1.00/3.255 USD = 0.30722 USD
"U.S. Dollar to Peruvian Nuevo Sol Exchange Rate - Yahoo! Finance":
http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=PEN


If 1.00 Nuevo Sol = 1,000,000.00 Intis, then:
1.00 Inti = 1.00 / 1,000,000.00 Nuevos Soles = 0.000001 Nuevos Soles

Then:
10.00 Intis = 10.00 * 0.000001 Nuevos Soles = 0,00001 Nuevos Soles

0,00001 Nuevos Soles = 0,00001 * 0.30722 USD = 0.0000030722 USD


So we have that:
10.00 Intis = 0.0000030722 USD (= 1/325,500 USD)


Note that you can buy a 10 intis bank note at 1.00 USD aprox. :
"Peru 10 Intis 1987 P-129":
http://www.mccrawstamps.com/product/BN_PERU_129

"eBay Item: 3972138478 (Ends 05-05-2005 12:13:48 MYT) - Peru 10 Intis
1987 Bank Note":
http://www.ebay.com.my/viItem?ItemId=3972138478

Search strategy:
inti "nuevo sol"
"nuevo sol" dollar
"10 intis bank note"


Hope that this helps you. Feel free to request for a clarification if you need it.

Regards.
livioflores-ga
jackthlion-ga rated this answer:5 out of 5 stars
Great answer! Thanks for the info on how you found it. I know it was a
fairly simple calculation, but the zeros were making me dizzy! :P

Comments  
Subject: Re: Currency conversion.
From: livioflores-ga on 16 May 2005 08:40 PDT
 
Thank you for the good rating and comments.

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