Definition

1. Noun:
   • A monetary unit: The "peso" is the basic unit of currency in several countries, primarily in Latin America and the Philippines. It is subdivided into 100 smaller units, which are typically called centavos or centésimos.

Usage

• The word "peso" is used to refer to the official currency of a specific nation. It functions as both a singular and plural noun (e.g., one peso, fifty pesos).
• It is commonly preceded by a country identifier when context is needed (e.g., the Mexican peso, the Philippine peso).

Examples

• Noun:
  • The price of the souvenir was one hundred Mexican pesos.
  • She exchanged her dollars for Chilean pesos at the bank.
  • The inflation rate has affected the value of the peso.

Advanced Usage

• "Peso problem": An economic term referring to a situation where market expectations about a currency's future value (like the peso) lead to persistent interest rate differentials, even if a devaluation does not immediately occur.
  • The persistent high interest rates were analyzed as a classic peso problem.

Variants and Related Words

• Centavo (n): A fractional monetary unit, equal to 1/100 of a peso in several countries (e.g., Mexico, Philippines).
  • The coin is worth twenty centavos.
• Centésimo (n): A fractional monetary unit, equal to 1/100 of a peso in countries like Chile and Uruguay.
  • It costs five pesos and fifty centésimos.

Synonyms

• Currency: The system of money used in a particular country.
• Monetary unit: A standard unit of value of a country's currency.

Related Phrases

• Peso convertible: Specifically refers to the Cuban convertible peso (CUC), a former currency used alongside the regular Cuban peso.
  • Tourists were required to use the peso convertible.
• Peso fuerte: A historical term meaning "strong peso," sometimes used to refer to specific stable currency issues in Latin American history.

Noun

1. the basic unit of money in Chile; equal to 100 centesimos
2. the basic unit of money in Colombia; equal to 100 centavos
3. the basic unit of money in Cuba; equal to 100 centavos
4. the basic unit of money in the Dominican Republic; equal to 100 centavos
5. the basic unit of money in Guinea-Bissau; equal to 100 centavos
6. the basic unit of money in Mexico; equal to 100 centavos
7. the basic unit of money in the Philippines; equal to 100 centavos
8. the basic unit of money in Uruguay; equal to 100 centesimos