PHP (Philippine Peso)

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.

BREAKING DOWN '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. Currency

    Currency is a generally accepted form of money, including coins ...
  2. Quote Currency

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

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

    The quotation and pricing structure of the currencies traded ...
  5. Forex - FX

    The market in which currencies are traded. The forex market is ...
  6. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
Related Articles
  1. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  2. Investing

    George Soros: 3 Best Investments Ever

    Learn about some of the most successful trades famed investor George Soros has made during his career, including a billion dollar profit against the pound.
  3. Personal Finance

    5 Places Where Your Travel Dollar Goes Furthest

    The dollar is pretty strong right now, but where is it strongest? Canada? South Africa? Europe? Here are five places to travel to right now on a budget.
  4. Retirement

    Retirement Faceoff: The Philippines or Thailand?

    The Philippines and Thailand each offer good quality of life, low cost of living, and many activities to keep you busy during retirement. How to choose?
  5. Investing

    3 Things About International Investing and Currency

    As world monetary policy continues to diverge rocking bottom on interest rates while the Fed raises them, expect currencies to continue their bumpy ride.
  6. Retirement

    The 4 Best Countries for Retiring in Asia

    Whether you're looking to hang out with your fellow expats, or immerse yourself in the local culture, Asia has much to offer retirees.
  7. Investing News

    Chinese Currency Devaluation Hits Global Economy

    China's surprise currency devaluations have sent shock waves through the world. Here’s how they could impact the global economy.
  8. Retirement

    Philippines: A Friendly Country for English Speakers

    Read about one of Asia's top English-speaking countries, and learn about the government policies that have brought English to its students.
  9. Investing

    2 Opportunities Amid Today’s Market Volatility

    As you prepare your portfolio for the market volatility ahead this year, here are a few investing ideas to consider.
  10. Forex

    How 2016 Could Be A Disaster for These Currencies

    Tanking oil prices, slowing BRIC growth, and general instability do not bode well for these currencies.
RELATED FAQS
  1. Is Bitcoin legal in the US?

    The digital currency known as bitcoin was created in 2009 by a person called Satoshi Nakamoto, but whose true identity has ... Read Full Answer >>
  2. Is the Philippines a developed country?

    The Philippines is not a developed country. The nation falls behind on every one of the most common metrics used by economist ... Read Full Answer >>
  3. Who decides when to print money in India?

    The Reserve Bank of India, or RBI, manages currency in India. The bank's additional responsibilities include regulating the ... Read Full Answer >>
  4. How is a block chain network useful for trading goods and assets in virtual currencies?

    Perhaps the most famous quote associated with blockchain technology came from an anonymous virtual currency user, who described ... Read Full Answer >>
  5. What types of companies benefit from reporting results utilizing constant currencies ...

    Any company that does a substantial amount of business in foreign countries, and is therefore subject to foreign currency ... Read Full Answer >>
  6. What are key benefits to a country that has engaged in a policy of currency depreciation?

    In the modern world, most currencies represent fiat money not backed by any commodity or precious metal and whose value is ... Read Full Answer >>
Hot Definitions
  1. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  4. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  5. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
Trading Center