20 Nuevos Soles

The P#173 series was issued as Peru transitioned out of the economic stabilization period that had defined the 1990s — the "nuevo sol" itself was introduced in 1991 specifically to replace the inti after hyperinflation had rendered that currency practically worthless. BA International, the Montreal-based successor to the venerable British American Bank Note Company, printed this series during what turned out to be the company's final decades of operation before its 2012 closure.

Security on this issue is relatively modest by the standards of its era — watermark and thread only, without the optical variable devices that were becoming common in regional issues at the time.