10 Nuevos Soles

Peru's switch to the nuevo sol in 1991 was itself a redenomination response to the catastrophic hyperinflation of the late 1980s, when the inti had collapsed so thoroughly that a 1,000,000-intis note had entered circulation. The 10 nuevos soles denomination sat at a useful middle register during the mid-1990s stabilization years under Fujimori's economic reforms, when annual inflation had finally been brought below 20 percent after peaking near 7,500 percent in 1990.

The Istituto Poligrafico e Zecca dello Stato, the Italian state printing house better known for producing euro coins and Italian postage, has held Peruvian banknote contracts across multiple series. Watermark security on this issue is relatively modest by the standards of later BCR emissions.