10 Nuevos Soles

This note belongs to the Nueva Serie issued after Peru's 1991 currency reform, which replaced the catastrophically inflated Inti at a rate of one Nuevo Sol to one million Intis — a ratio that captures just how thoroughly the APRA government's economic policies had unraveled by the late 1980s. Giesecke & Devrient's Leipzig facility, which had operated continuously through the GDR period under state ownership, was restored to private hands following reunification and resumed international contracts shortly thereafter.

The watermark is the sole listed security feature, which by 1995 was already considered minimal for a circulating denomination.