Symbolically written as ₱. 1 peso = 100 centavos. Monetary policy in the Philippines is conducted by the Bangko Sentral ng Pilipinas (BSP), established on July 3, 1993, as the central bank.
The Philippine peso is derived from the Spanish peso, or eights (Spanish dollar - a silver coin about 38 mm in diameter and worth eight Spanish reales), brought in large quantities from Spanish America by Manila galleons from the 16th to 19th centuries.
