20 Nuevos Soles

Peru's shift to the nuevo sol in 1991 was a direct consequence of hyperinflation so severe that the inti — the currency it replaced — had depreciated to the point where conversion was set at one million intis to one nuevo sol. The 20-sol denomination in this series was printed by Italy's state printing and mint authority, which held several Latin American banknote contracts through the 1990s alongside its primary domestic work.

Security provisions on this series were relatively modest by late-1990s standards — watermark and thread only, without the optical variable devices that the BCRP would incorporate into later redesigns.