inti
1
9.9
- noun
- Literature
- In 1985, the Peruvian government introduced the Inti as a new currency to address hyperinflation.
- devaluation of the inti
Examples
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Following public opposition to the devaluation of the Inti in December 1987 and January 1988, Garcia began to backtrack.
Academic text (1994) -
By 1985, the official exchange rate had reached more than 10,000 soles per dollar, and in February, a new currency—the Inti—was introduced at a value of 1,000 soles per Inti.
Academic text (1991) -
The greater the supply of narcodollars, the lower the value of the Inti/dollar exchange rate expected in the black market.
Academic text (1991) -
The year of 1987 began with a plan to devalue the Inti by 2.2% per month in the various foreign exchange categories, but this goal had to be abandoned in July.
Academic text (1991) -
Deep recession and the unmanageable foreign debt burden, which resulted in rapid monetary expansion, kept downward pressure on the Inti.
Academic text (1991) -
As official reserves decline, the Inti is expected to devalue relative to the dollar because the reserve outflow results in a greater scarcity of foreign exchange.
Academic text (1991) -
That is to say, the main factor contributing to the devaluation of Peru's Inti relative to the US dollar was the greater rate of growth of Peru's aggregate price level.
Academic text (1991) -
The greater the difference between Peruvian and US prices (i.e., the relative rate of Peruvian inflation), the greater the devaluation of the Inti (i.e., more Intis per dollar).
Academic text (1991) -
By 1985, the official exchange rate had reached more than 10,000 soles per dollar, and in February, a new currency—the Inti—was introduced at a value of 1,000 soles per Inti.
Academic text (1991) -
After years of economic turmoil, the value of the Inti plummeted against foreign currencies, causing widespread hardship.
Surface Forms
Etymology
The word inti comes from Quechua and means 'sun', and it was the name of Peru's money from 1985 to 1991. A helpful way to remember this is to think of the 'sun' as a bright, central symbol for the country, so naming the currency inti linked the idea of the 'sun' to the nation's money.