What is peruvian escudo?

The Peruvian Escudo was the currency of Peru from 1863 until 1985 when it was replaced by the Nuevo Sol. It was subdivided into 100 céntimos. The Peruvian Escudo was introduced to replace the Peruvian Peso, which had been the national currency since 1826. The Peruvian Escudo was initially pegged to the British Pound Sterling, but in 1931 it was devalued to half its previous value and pegged to the US Dollar. In 1961, the Peruvian Escudo was revalued and pegged to the US Dollar at a rate of 1 USD = 3.5 PEI, which was later changed to 1 USD = 10 PES. The Peruvian Escudo is no longer in circulation, and its use is now limited to historical reference.