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base info Polygon

Polygon to Peruvian Sol Converter and calculator

Convert 1Polygon (MATIC) to Peruvian Sol (PEN) equals S/. 2.48 | Bitget

PEN information

About the Peruvian Sol (PEN)

What Is the Peruvian Sol (PEN)?

The Peruvian Sol, with the currency symbol: S/ and the ISO 4217 code PEN, is the sole legal tender of Peru. It's subdivided into 100 céntimos. The Sol, a term derived from the Latin 'solidus' and also meaning 'sun' in Spanish, symbolizes continuity from Peru's historic currency and its rich cultural heritage.

The Peruvian Sol is issued by the Central Reserve Bank of Peru (Banco Central de Reserva del Perú). This institution is responsible for the country's monetary policy, including the issuance and regulation of the national currency. The Central Reserve Bank of Peru plays a crucial role in maintaining the stability of the Sol and overseeing the country's financial system.

What Is the History of PEN?

Before Peru's independence in 1821, the Spanish colonial real was the prevalent currency. The Inca Empire, which preceded Spanish rule, used a unique accounting system called quipu instead of physical currency. Post-independence, Peru introduced its version of the real in 1822. However, following the global economic downturn in 1929, Peru faced severe hyperinflation. In 1963, the government introduced the sol, replacing the real. However, due to political instability and economic mismanagement, the sol was replaced by the inti in the 1980s. The late 1980s saw massive hyperinflation, leading to the introduction of the Nuevo Sol in the 1990s by President Alberto Fujimori. This move stabilized the economy, leading to lower inflation and better economic stability. The Nuevo Sol was renamed simply as Sol in 2015..

Notes and Coins of PEN

The Peruvian Sol comprises various denominations in both notes and coins, reflecting a rich blend of cultural and historical significance. Notes are available in denominations of 10, 20, 50, 100, and 200 Soles, each distinctively designed with iconic Peruvian figures, cultural symbols, and landmarks. Coins, on the other hand, come in denominations of 1, 2, and 5 Soles, along with smaller céntimos coins of 5, 10, 20, and 50 céntimos.

Is PEN Pegged to USD?

No, the Peruvian Sol (PEN) is not pegged to the United States Dollar (USD). The Sol operates under a floating exchange rate system, where its value is determined by market forces such as supply and demand in the foreign exchange market. This is in contrast to a pegged exchange rate system, where a country's currency value is fixed or tied to another major currency like the USD. Peru's monetary policy, managed by the Central Reserve Bank of Peru, allows the Sol to fluctuate freely against the USD and other foreign currencies.

Is PEN a Stable Currency?

The Peruvian Sol is recognized as a stable currency, particularly in the context of Latin American economies. As of January 2024, it was hailed as the most stable currency in the region, exhibiting less intense daily fluctuations in its exchange rate compared to its peers. This stability is underscored by the Sol's modest devaluation against the US dollar, with only a 41 Sol cent decrease from November 2018 to November 2023. Contributing to this stability are Peru's strong economic fundamentals, including a trade balance surplus of nearly $15 billion and international reserves approximating $75 billion, equivalent to 28% of its Gross Domestic Product. These factors collectively underscore the Sol's resilience and reliability as a currency in the global market.

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Bitget crypto-to-fiat exchange data shows that the most popular Polygon currency pair is the MATIC to PEN, with for Polygon's currency code being MATIC. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for PEN.

MATIC to PEN conversion rate trend

1D7D1M3M1YAll
In the past 1D, Polygon has changed -3.13% to PEN. Based on the trend and price charts, Polygon(MATIC) has changed -3.13% to PEN while Peruvian Sol(PEN) has changed % to MATIC in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
S/.2.51
0.0001% / 0.0004%vip-iconVIP
Binance
S/.2.51
0.1000% / 0.1000%
Yes
Coinbase Exchange
S/.2.51
0.1000% / 0.1000%
Yes
Kraken
S/.2.51
0.1000% / 0.1000%
Yes
OKX
S/.2.51
0.080% / 0.100%
Yes
Huobi
S/.2.51
0.1000% / 0.1000%
Yes
Gate.io
S/.2.51
0.1000% / 0.1000%
Yes
Bybit
S/.2.51
0.1000% / 0.1000%
Yes
KuCoin
S/.2.51
0.1000% / 0.1000%
Yes
Bitfinex
S/.2.52
0.1000% / 0.1000%
Yes
Last updated 2024/04/17 15:00:28(UTC+0)

What factors influence the conversion rate of Polygon to Peruvian Sol?

Polygon to Peruvian Sol is falling this week.
Polygon's current market price is S/. 2.48 per MATIC, with a total market cap of S/. 24,525,379,784.48 PEN based on a circulating supply of 9,894,742,000 MATIC. The trading volume of Polygon has changed by -33.49% (S/. -508,775,401.21 PEN) in the last 24 hours. Last trading day, MATIC's trading volume was S/. 1,519,068,096.28.
Market cap
$6.56B
24h volume
$270.15M
Circulating supply
9.89B MATIC

Conversion tables

The exchange rate of Polygon is decreasing.
1 MATIC is currently valued at S/. 2.48 PEN , which means buying 5 MATIC will cost S/. 12.39 PEN . Similarly, S/.1 PEN can be traded for 0.4034 MATIC, and S/.50 PEN can be converted to 20.17 MATIC, excluding any platform or gas fees.
The exchange rate of 1 MATIC to Peruvian Sol has changed by -23.95% in the last 7 days. In the last 24 hours, the rate has fluctuated by -3.13%, reaching a high of 2.65 PEN and a low of 2.47 PEN . One month ago, the value of 1 MATIC was S/. 3.88 PEN , which represents a -36.15% change from its current value. Over the last year, Polygon has changed by
-S/.
1.89PEN
, resulting in a change of -43.23% in its value.

MATIC to PEN

Amount
15:43 today
0.5 MATIC
S/.1.24
1 MATIC
S/.2.48
5 MATIC
S/.12.39
10 MATIC
S/.24.79
50 MATIC
S/.123.93
100 MATIC
S/.247.86
500 MATIC
S/.1,239.31
1000 MATIC
S/.2,478.63

PEN to MATIC

Amount15:43 today
0.5PEN0.2017  MATIC
1PEN0.4034  MATIC
5PEN2.02  MATIC
10PEN4.03  MATIC
50PEN20.17  MATIC
100PEN40.34  MATIC
500PEN201.72  MATIC
1000PEN403.45  MATIC
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Today vs. 24 hours ago

Amount15:43 today24 hours ago24h change
0.5 MATIC$0.3314$0.3421
-3.13%
1 MATIC$0.6628$0.6842
-3.13%
5 MATIC$3.31$3.42
-3.13%
10 MATIC$6.63$6.84
-3.13%
50 MATIC$33.14$34.21
-3.13%
100 MATIC$66.28$68.42
-3.13%
500 MATIC$331.39$342.11
-3.13%
1000 MATIC$662.79$684.22
-3.13%

Today vs. 1 month ago

Amount15:43 today1 month ago1M change
0.5 MATIC$0.3314$0.5192
-36.15%
1 MATIC$0.6628$1.04
-36.15%
5 MATIC$3.31$5.19
-36.15%
10 MATIC$6.63$10.38
-36.15%
50 MATIC$33.14$51.92
-36.15%
100 MATIC$66.28$103.84
-36.15%
500 MATIC$331.39$519.18
-36.15%
1000 MATIC$662.79$1,038.36
-36.15%

Today vs. 1 year ago

Amount15:43 today1 year ago1Y change
0.5 MATIC$0.3314$0.5839
-43.23%
1 MATIC$0.6628$1.17
-43.23%
5 MATIC$3.31$5.84
-43.23%
10 MATIC$6.63$11.68
-43.23%
50 MATIC$33.14$58.39
-43.23%
100 MATIC$66.28$116.78
-43.23%
500 MATIC$331.39$583.92
-43.23%
1000 MATIC$662.79$1,167.85
-43.23%

FAQ

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