The currency of the Philippines (officially, Republic of the Philippines) is called the Philippine Peso. Its ISO 4217 code is PHP and it has PhP or $ as symbol. The issuer of the Philippine Peso is the Central Bank of the Philippines (CBF).
The Peso is known in Filipino and Tagalog as "piso" and is divided into 100 cents ("sentimo" in the previous languages).
These currencies are issued by the Central Bank of the Philippines. This Central Bank was created by the Republic Act No. 265 on January 3rd, 1949. It is the BCF that manages the banking operations and the country's credit system. In addition, this Act gives the CBF all the powers to print and mint Filipino money since then.
Banknotes and coins of the Philippine peso in use
The Peso coins are minted in the Security Plant Complex of the Philippines. At present, coins of 1, 5, 10 and 25 cents are in use and those of 1, 2, 5 and 10 pesos are in use.
As for the peso notes, they are printed at the Security Plant Complex or at the National Printing Office. At present time, notes of 20, 50, 100, 200, 500 and 1,000 pesos circulate.
Did you know?
- The Philippines has a population of about 102 million inhabitants, being the 12th most populated country in the world. In addition, 11 million Filipinos are currently living abroad.
- The word "Philippines" derives from the name of King Felipe II of Spain (deformation of "Felipinas"). In addition, the official name of the Philippines has changed several times in the course of its history.
- Before 1967, the language used in the notes and coins of the Philippines was English. Then it was known as "Peso". But a short time later the name was used in Filipino, changing its name to the "Piso" currency.
- The Philippine peso has its origins in the Spanish Real of 8 and in the Mexican peso, which circulated widely throughout the Americas and Southeast Asia during the seventeenth and eighteenth centuries.
Why changing currency with us is better than with your bank?
 Global Exchange | Your high-street bank | |||
|---|---|---|---|---|
| Variety of currencies | We have more than 17 currencies. We are specialists. | Only major currencies. Travel money is just a secondary business for banks. | ||
| Availability of currencies | Immediate availability of currencies in our branches. | If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can have the money on your hands. | ||
| Expenses | We only charge the exchange rate, without commissions. | The bank sets its own margin plus a commission. | ||
| Different denominations available | At Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs. | No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes. | ||
| Delivery options | Airport collect on the day of your trip. All comfort. | You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it. |