- published: 16 Jun 2015
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The peso (Filipino: piso) (sign: ₱; code: PHP) is the currency of the Philippines. It is subdivided into 100 centavos (Filipino: sentimo, Visayan: sentabo). Before 1967, the language used on the banknotes and coins was English and so "peso" was the name used. The language was then changed to Filipino, so that the name of the currency as written on the banknotes and coins is now Piso.
The peso is usually denoted by the symbol "₱". This symbol was added to the Unicode standard in version 3.2 and is assigned U+20B1 (₱). The symbol can be accessed through some word processors by typing in "20b1" and then pressing the Alt and X buttons simultaneously. Other ways of writing the Philippine Peso sign are "PHP", "PhP", "P", or "P" (strike-through or double-strike-through uppercase P), which is still the most common method, however font support for the Unicode Peso sign has been around for some time.
The coins and banknotes are made at the Security Plant Complex of the Bangko Sentral ng Pilipinas.
Trade among the early Filipinos and with traders from the neighboring islands was conducted through barter. The inconvenience of barter later led to the use of some objects as medium of exchange. These objects included piloncitos and gold barter rings. Piloncitos are small bead-like gold bits, and they are considered by the local numismatists as the earliest coin of the ancient Filipinos.