philippine peso
Definition
- Noun:
- The basic unit of money in the Philippines; equal to 100 centavos: The Philippine peso is the official currency of the Republic of the Philippines. It serves as the standard monetary unit for all transactions within the country.
Usage Examples
- Noun:
- The price of the souvenir is one hundred Philippine pesos.
- She exchanged her dollars for Philippine pesos at the airport.
- The contract was valued at several million Philippine pesos.
Advanced Usage
- In financial contexts: Often abbreviated as PHP (Philippine Peso) in international finance and currency markets to distinguish it from other peso currencies.
- The exchange rate is 56 PHP to 1 US Dollar.
- Historical reference: The term can be used when discussing the economic history of the Philippines.
- The design of the Philippine peso has changed several times since its introduction.
Variants and Related Words
- Peso: The general term for the currency unit used in several countries. The Philippine peso is a specific type of peso.
- Centavo: A subunit of the Philippine peso, where 100 centavos equal 1 peso.
- PHP: The official ISO 4217 currency code for the Philippine peso.
Synonyms
- Philippine currency: A general term for the money used in the Philippines.
- Piso: The Filipino name for the peso.
Related Phrases
- Peso sign: The symbol (₱) used to denote the Philippine peso.
- The amount was written as ₱1,000.
Noun
-
the basic unit of money in the Philippines; equal to 100 centavos
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