What you know about Peso?

Several nations in the Americas, including the Philippines, use the peso as their currency. The word peso, which has its roots in the Spanish Empire, means “weight”. The peso uses the same symbol, “$,” as many other currencies with the same name. In the Philippines, the symbol “₱” is employed.

The Philippine PESO is the monetary unit of many countries in the Americas. The word “peso” means “weight” and comes from the Spanish Empire. The peso, like many other currencies with the name “dollar,” uses the same symbol, “$,” in most countries. The Philippines uses the sign “₱”.

From the 16th century to the 19th century, the silver peso, which was worth eight reales and was also known in English as a Spanish dollar or a “piece of eight,” was a common international trade coin.

Peso rises to new six-month high vs dollar

Monday saw THE PESO reach a new six-month high against the US dollar as falling US inflation in December 2022 stoked expectations of more gradual US Federal Reserve interest rate increases as early as this month.

According to data from the Bankers Association of the Philippines, the local currency rose 31.50 centavos from Friday’s closing price of P54.89 to settle at P54.575 against the US dollar on Monday.

The peso closed at its highest level since June 22, 2022, when it reached P54.47.

The peso began trading on Monday at P54.90 to the dollar, which was already a low point for the day. Its intraday high versus the US dollar was P54.475.

Dollars exchanged decreased from $1.37 billion on Friday to $1.27 billion.

Indonesian rupiah, Philippine peso lead Asian FX lower on China slowdown

After China’s top trading partner and global manufacturing powerhouse recorded one of its lowest annual growth rates in nearly half a century, a fall in emerging Asian currencies was led by the Indonesian rupiah and the Philippine peso.

China’s economy, the second largest in the world, expanded by 2.9% between October and December. However, the country’s annual growth of 3.0% was significantly below the official target of “around 5.5%” due to strict COVID controls and a slump in the property market.

After the data were released, the Shanghai Composite Index.SSEC and the yuan CNY=CFXS both lost 0.4 percent against the dollar.

However, analysts are encouraged by China’s sudden shift toward lifting restrictions on mobility and reopening international borders.

Few countries currency comparison to PESO

Omani Riyal to Philippine PESO

The Philippine peso derived from the Spanish silver coin Real de a Ocho or Spanish dollar, in wide circulation in the Americas and South-East Asia during the 17th and 18th centuries. The Philippine peso was introduced on May 1, 1852.

OMR 1.000 = 142.032 PHP