The Philippine Peso is the official currency of the
Philippines. In Filipino, it is called as “Piso”. It is usually denoted by "₱" symbol. Other ways of writing the
Philippine peso sign are "PHP", "PhP", "Php",
"P$", or just "P".
Currently, 1 Philippine Peso is equivalent to 0.020 US Dollar.
What can you do/buy for 1 Peso ?
1. For 1 Peso, you can enjoy 4 minutes of internet usage. This was made possible because of the "pisonet" business which is one of the popular business in the Philippines. Just drop your 1 Peso coin in the coin slot of the machine and voila! you can already enjoy playing online games or surf the net.
2. For 1 Peso, you can buy a lollipop at the Sari-sari store. Or you can choose another snack or one piece of bread or junk food which only cost 1 Peso. .
3. Laser/Clear Photocopy for 1 peso. So if you will be required to submit a photocopy of your Identification Card, there are stores who will only ask for 1 peso per photocopy. You can actually see a lot of small copy and print business stores in the Philippines, especially near the schools, malls and government buildings.
4. You can get a cup of water with your 1 Peso. There are small stores or areas in the Philippines which has the "ATM" or the Automatic Tubig Machine ("Tubig" means "water"). Just drop 1 peso on the coin slot of the machine and then prepare your cup or the plastic bag for the hot/cold water.
PHILIPPINES' COINS & BILLS:
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From top: 5 cents, 10 cents, 25 cents, 1 Peso, 5 Peso, 10 Peso Note: 1 cent is also available however it is not included in the photo. |
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Front view of New Generation Currency: 20 Pesos, 50 Pesos, 100 Pesos, 200 Pesos, 500 Pesos & 1000 Pesos |
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Back View of New Generation Currency: 1000 Pesos, 500 Pesos, 200 Pesos, 100 Pesos, 50 Pesos & 20 Pesos |
NOTE:
*"sentimos" means cents.
What is the New Generation Currency?
The New Generation Currency (NGC) is the banknote series launched
and issued by the BSP or Bangko Sentral ng Pilipinas (Central Bank of the Philippines) on December 16, 2010. This will be the only series that can be used as payment for goods and services that
has started on January 1 2016.
The New Generation Currency series will be the only circulating set of notes by April 1, 2017. If you have the old series or the New Design Series you need to have it exchanged or replaced by March 31, 2017.
As stated in the BSP Circular No. 935, Series of 2016,
Effective 01 January 2016, the NDS banknotes shall cease to be legal
tender but may still be exchanged or replaced until 31 March 2017 with
the BSP or its authorized agent banks and financial institutions at par with
the NGC banknotes and without charge. After 31 March 2017, the NDS
banknotes which have not been exchanged shall cease to be a liability of
the BSP and shall be demonetized.
The Philippines has adopted and used the Barter system to trade with neighboring countries such as China, Java,
Borneo long before the Spaniards came. However due to
the inconvenience of the barter system, the Filipinos used the cowry shells as the new medium of exchange. Cowries produced in gold, jade, quartz and wood was the most common and acceptable form of money through many centuries.
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