27/07/2020: Transition to Sol
Peru announced the removal of 'Nuevo' from the currency's name, making it officially known as the Sol once again.
20/03/2020: Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.
20/06/2016: Adoption of Flexible Exchange Rate Policy
The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.
15/12/2015: Introduction of New Sol Banknotes
New series of banknotes featuring improved security features and designs were introduced for the Nuevo Sol.
29/05/1999: Transition to Democratic Governance
Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.
01/10/1995: Introduction of Nuevo Sol
The Peruvian Sol was revalued and renamed as the Nuevo Sol, with a new currency code of PEN.
12/06/1993: Introduction of the Third Nigerian Naira
The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.
01/07/1991: Return to the Sol
Peru reintroduced the Sol as its official currency, replacing the Inti at a rate of 1 million Intis to 1 Sol.
01/02/1985: Creation of the Inti
The Peruvian Inti was created to replace the Sol as the official currency as part of an economic reform plan.
31/12/1984: Implementation of the Structural Adjustment Program
The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.
01/07/1979: Adoption of the Second Nigerian Naira
The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.
01/07/1973: Introduction of decimal currency
The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.
01/07/1880: Adoption of the Sol de Oro Standard
Peru adopted the Sol de Oro standard, pegging the Sol to gold at a fixed rate.
23/11/1850: Introducción of Peruvian Sol
The Peruvian Sol was introduced as the official currency of Peru to replace the Spanish real.