The Philippine peso, symbol P or Php, code PHP, is also commonly known as the piso, in the native Philippine language of Tagalog. The Philippine peso is the official currency of the South East Asian country of the Republic of the Philippines, a nation of over 92.3 million inhabitants. It is subdivided into 100 centavos or sentimos in Filipino. The peso or piso is currently managed and minted by the Bangko Sentral ng Philipinas in Manila. As of January 2013, 1 USD was equal to 40.85 PHP.
During its Spanish colonial era, the Philippines saw the use of the teston and then the Manila, created in 1547. A Manila decimal system was introduced in the mid 1800s, while a domestic Philippine mint was built and began to operate in 1862. During its time as an American colony, the country fell under the Philippine Coinage Act of 1903, valuing the native currency at half of that of the US dollar. Throughout the Japanese occupation of the Philippines during World War II, Japanese currency was circulated alongside secretly made guerilla currencies. Upon gaining independence from the US in 1946, the Philippine bank was built and began minting independent notes and coins in 1949. The Philippine peso or piso has been allowed to float since the mid 1960s.
Name: peso, Filipino: piso
Symbol: P, Php, PHP
Decimal Unit: centavos, Filipino: sentimo
Coins: 25 sentimo; 1, 5, 10 pisos; rarely used: 1, 5, 10 sentimo
Notes: 20, 50, 100, 200, 500, 1,000 pisos; rarely used: 5, 10 pisos
Central Bank: Bangko Sentral ng Philipinas
Country(ies): Republic of the Philippines
The Philippine peso or piso is currently circulated in coin values of 25 sentimos, as well as 1, 5, and 10 pisos. 1, 5, and 10 sentimo coins are rarely used. The piso banknotes currently in circulation include 20, 50, 100, 200, 500, and 1,000 piso denominations, as well as the rarely used 5 and 10 piso notes. English was used on currency units of the Philippine peso prior to 1967. Today, the Philippine peso is printed bearing the Tagalog language, one of the Philippines two official lanugages, (the other being English). All peso banknotes are printed in different colors according to denomination of value, and depict important Philippine figures on their front side, and native wildlife on their reverse.