PHP (Philippine Peso)

AAA

DEFINITION of 'PHP (Philippine Peso)'

The currency abbreviation or currency symbol for the Philippine peso (PHP), the currency of the Philippines. The Philippine peso is made up of 100 centavo or sentimo and is often represented with a symbol that looks like the capital Latin letter "P" with two horizontal slashes through the circular top half, a "P" with one horizontal slash, or just P.

INVESTOPEDIA EXPLAINS 'PHP (Philippine Peso)'

The peso was originally created in 1852 as a replacement for the Spanish dollar. Through revolution, colonialism, and war, the peso survived. However, it did suffer many devaluations and demonetizations. The Central Bank of the Philippines was created in January of 1949, and the colonial pesos which were being hoarded rather than surrendered were demonetized in 1964. From 1964 on, the exchange rate has been allowed to float. It has undergone many more devaluations since being allowed to float.

RELATED TERMS
  1. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  2. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  3. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  4. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  5. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  6. Currency

    A generally accepted form of money, including coins and paper ...
Related Articles
  1. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  2. What Is Bitcoin's Intrinsic Value?
    Economics

    What Is Bitcoin's Intrinsic Value?

  3. Basics For Buying And Investing In Bitcoin
    Investing Basics

    Basics For Buying And Investing In Bitcoin

  4. The Best Places To Exchange Currency
    Savings

    The Best Places To Exchange Currency

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center