Lima, Peru – The Peruvian Congress has voted to remove a mandate requiring the country’s central bank to redesign currency with a larger national shield and a specific motto, a move that comes after concerns were raised about the potential costs and logistical challenges. The decision, approved in a first vote on March 6, 2026, shifts the authority to the Banco Central de Reserva del Perú (BCRP) to decide whether to incorporate these elements.
Previously, a law passed during the administration of Dina Boluarte stipulated that the national shield and the phrase “Firme y feliz por la unión” (“Firm and happy for the union”) be included on Peruvian currency. However, the BCRP expressed concerns about the financial implications of modifying its minting machinery to accommodate these changes. The move underscores the central bank’s desire to maintain control over currency design and production.
According to reports, the congressional modification allows the BCRP to determine whether to include the shield and motto on banknotes and coins. “The national motto will be coined on the coins and printed on the banknotes issued by the BCRP, when so agreed by its Board of Directors,” the approved text states, as reported by Gestión.
The BCRP had previously argued that the original law did not account for the operational difficulties of altering the banknotes. Officials also pointed out that there was insufficient space available on current currency designs. Infobae reported that Julio Velarde, head of the BCRP, had previously voiced his concerns about the measure.
The congressional action also eliminates a requirement to change the size of the country’s coins. A second vote is required before the changes become law and are sent to the executive branch for potential enactment, according to La República. The case highlights the ongoing tension between the legislative and monetary branches of government regarding control over national symbols and currency policy.
The approved changes seek to unify and harmonize regulations concerning national symbols, including the use of the coat of arms and national motto on currency. Congreso reported that the new law aims to provide clear guidelines for the use of these symbols.
Diario Expreso and Panamericana TV also reported on the congressional decision.
