20 Nuevos Soles

The P#167 series was produced by three separate security printers across two continents — BA International in Canada, the Fábrica Nacional de Moneda y Timbre in Spain, and the Istituto Poligrafico e Zecca dello Stato in Rome — an unusually distributed print contract for a single denomination. Each printer's output is essentially identical in design but can sometimes be distinguished by minor paper and ink characteristics. Peru's central bank had relied on foreign security printers throughout the hyperinflationary collapse of the late 1980s and the subsequent "nuevo sol" stabilization of 1991, and continued splitting contracts as a hedge against supply disruption.