How many soles are 5 million intis equivalent to today and what could you buy?

The 1980s were a very difficult period for the Peruwell, in addition to the social problems that the country was experiencing, In those years, Peruvians suffered the worst economic crisis in our history.. So much so that it was very difficult for most citizens to raise enough money to complete the basic family basket.

Thus, activities that currently seem daily, such as going to the market and buying food for one or several days, were an almost impossible mission for the people of that time, who bitterly remember the inti, since they had to carry huge wads of these bills to buy products.

the history of inti

The inti entered into circulation on February 1, 1985, almost at the end of the government of Fernando Belaunde Terry, as a solution to the devaluation that the golden sun had suffered. The monetary unit was made official by means of Law No. 24064, although only the coins. The first banknotes, on the other hand, began to circulate in December of the same year, already with Alan García as President of the Republic.

At the time of its creation, a thousand soles of gold were equivalent to one inti. “1,000 gold soles were gathered and the inti was born. In 1985, a dollar was worth 13,000 soles. From then on, it would be worth 13 intis,” said the economic historian of the PUCPCarlos Contreras.

The devaluation of the inti

Unfortunately, the inti would go down in history as the worst currency that Peru hadsince its rapid devaluation, due to the hyperinflation caused by the government of Alan García, made people feel little sympathy for him. Peruvians had to carry many bills, which were worth less daily.

The country was in a critical situation, so, finally, the inti disappeared after only six years of circulation, in January 1991with the publication of Law No. 25295, which established as the new monetary unit of Peru the new Sun.

What can you buy with 5 million intis?

Although it may seem incredible, at the moment of his disappearance, one million intis was equivalent to a nuevo sol. This is maintained until now, according to the Central Reserve Bank of Peru (BCRP). Therefore, 5 million intis would be 5 soles, currently. Consequently, with that amount You could buy half a kilo of chicken, half a kilo of eggs, a kilo of apples, an empanada, a snack, among other products.

This situation was unthinkable for those who lived through, and suffered from, the intis between 1985 and 1991, since 5 million intis It constituted a relatively appreciable sum in those years. Following the numerical relationship, 500,000 intis equals 50 cents and 100,000 intis equals 10 centswith which you could barely buy a candy.

Is it possible to make transactions with intis today?

According to BCRP, neither the inti nor the gold sol can be exchanged for current sol bills and coins, which are the only monetary units that serve as a means of payment for transactions. That is to say, the intis in these times only have value for collectors in the numismatic market.