{
 "id": "peru-1988-1990",
 "country": "Peru",
 "currency": "Inti",
 "periodStart": "1988",
 "periodEnd": "1990",
 "peakInflation": "397%",
 "peakMonthlyPct": 397,
 "peakMonth": "August 1990",
 "doubling": "13.1 days",
 "hkEpisode": "Sep 1988 · Jul – Aug 1990",
 "currencyReform": "1 nuevo sol = 1,000,000 intis",
 "cause": "Price controls, a deficit paid by the central bank",
 "resolution": "The \"Fujishock\" (Aug 1990), then the nuevo sol (1991)",
 "url": "https://hyperinflation.rogzy.org/peru-1988-1990/",
 "summary": "The inti was created in 1985 to replace a sol already worn down by inflation. Under price controls, a debt-service cap and deficits financed by the central bank, it went into hyperinflation twice: 114 % in September 1988, then 397 % in August 1990 — the month of the stabilisation shock itself — with prices doubling every 13.1 days (H&K). In 1991 one nuevo sol replaced a million intis.",
 "timeline": [
  {
   "date": "1 Feb 1985",
   "event": "The inti replaces the sol de oro at 1,000 : 1."
  },
  {
   "date": "Sep 1988",
   "event": "A devaluation package; prices rise 114 % in the month (H&K)."
  },
  {
   "date": "28 Jul 1990",
   "event": "Alberto Fujimori takes office."
  },
  {
   "date": "Aug 1990",
   "event": "Prices rise 397 % in the month (H&K)."
  },
  {
   "date": "1 Jul 1991",
   "event": "The nuevo sol replaces the inti at 1 : 1,000,000."
  }
 ],
 "banknotes": [
  {
   "label": "1 million intis (5 Jan 1990)",
   "image": "https://hyperinflation.rogzy.org/assets/bills/web/1_million_Intis.jpg"
  }
 ],
 "exchangeRates": {
  "unit": "Intis per 1 USD",
  "approximate": true,
  "notes": "Two hyperinflation episodes: September 1988 (114%) and July–August 1990, peak 397% in August 1990 (Hanke & Krus). The nuevo sol replaced 1,000,000 intis on 1 July 1991. Approximate series, kept for its shape; individual points are not sourced one by one.",
  "sources": [
   "Banco Central de Reserva del Perú"
  ],
  "points": [
   {
    "date": "1988-01",
    "rate": 33
   },
   {
    "date": "1988-06",
    "rate": 250
   },
   {
    "date": "1988-09",
    "rate": 900
   },
   {
    "date": "1988-12",
    "rate": 2000
   },
   {
    "date": "1989-03",
    "rate": 5500
   },
   {
    "date": "1989-06",
    "rate": 15000
   },
   {
    "date": "1989-09",
    "rate": 35000
   },
   {
    "date": "1989-12",
    "rate": 75000
   },
   {
    "date": "1990-03",
    "rate": 145000
   },
   {
    "date": "1990-06",
    "rate": 250000
   },
   {
    "date": "1990-07",
    "rate": 350000
   },
   {
    "date": "1990-08",
    "rate": 500000
   }
  ]
 },
 "sources": [
  "Hanke & Krus (2012) — episodes, peak, doubling time.",
  "Wikipedia, \"Peruvian inti\" (read 2026-10-05): https://en.wikipedia.org/wiki/Peruvian_inti"
 ],
 "licence": "Text and data: MIT (c) 2026 Rogzy. Banknote images (c) David St-Onge, not covered by the MIT licence."
}