Country ISO code: PH

Official language: Filipino

Language ISO code: fil

Current official currency: Philippine Peso

Currency ISO code: PHP

Complete Financial History of the Republic of the Philippines

Current official currency: Philippine Peso (₱)

• ISO code: PHP

• Symbols: ₱, PHP

• Singular name: Piso

• Plural name: Piso

• Monetary subdivision: 1 Piso = 100 Sentimo

• Fraction singular name: Sentimo

• Fraction plural name: Sentimo

• Initial production date: 1852 (silver coins during Spanish colonial period)

• Final production date: Still in circulation

• Initial circulation date: 1903 (modern Philippine peso introduced by the United States)

• Final circulation date: Still in circulation

• Mint: Bangko Sentral ng Pilipinas (Central Bank of the Philippines)

• Issuing bank: Bangko Sentral ng Pilipinas

Coin denominations

• 1 Sentimo

• 5 Sentimo

• 10 Sentimo

• 25 Sentimo

• 50 Sentimo

• 1 Piso

• 5 Piso

• 10 Piso

Banknote denominations

• 20 Piso

• 50 Piso

• 100 Piso

• 200 Piso

• 500 Piso

• 1000 Piso

Economic and historical context

• During the Spanish colonial period, the currency used was the Spanish real and later the Spanish peso fuerte issued by El Banco Español Filipino de Isabel II.

• In 1903, under American administration, the modern Philippine peso was introduced, based on the US dollar, replacing earlier currencies.

• The Philippine peso has undergone several monetary reforms, including the introduction of new series of coins and banknotes to combat inflation and modernize the monetary system.

• The Bangko Sentral ng Pilipinas was established in 1993, succeeding the Central Bank of the Philippines founded in 1949, and assumed responsibility for currency issuance and regulation.

• The Philippine peso is a floating currency subject to exchange rate fluctuations and is widely used in all economic transactions in the country.

Minting and production locations

• Coins and banknotes are produced by the Bangko Sentral ng Pilipinas, with printing and minting carried out at national facilities and occasionally by contracted international suppliers.

Designs and symbols on coins and banknotes

• Coins feature historical Filipino figures, national symbols such as the sun and stars from the flag, and cultural elements.

• Banknotes depict portraits of national heroes (such as José Rizal, Manuel Roxas, Andrés Bonifacio), presidents, historical monuments, and natural and cultural elements of the country.

Production volumes, honorees, and seals

• The Central Bank periodically publishes data on coin and banknote issuances.

• Commemorative coins and banknotes have been issued to celebrate national events and historical personalities.

Commemorative coins and curiosities

• The Philippines issues commemorative coins for independence anniversaries, historical figures, and cultural events.

Current circulation status

• The Philippine peso is the sole legal tender and is actively circulating throughout the country.

Issuing authority

• Bangko Sentral ng Pilipinas (Central Bank of the Philippines)

Relevant monetary legislation

• Currency issuance and regulation are governed by Republic Act No. 7653 (New Central Bank Act of 1993) and its amendments.

Names and titles of banknote signatories

• Banknotes bear the signatures of the Governor of the Bangko Sentral ng Pilipinas and the Secretary of the Treasury of the Philippines.

Persons honored on coins and banknotes

• Historical figures such as José Rizal, Manuel Roxas, Andrés Bonifacio, and other national heroes are featured on Philippine coins and banknotes.

Official language recognized by the state for administrative, legislative, judicial, monetary, and educational use:
Filipino (based on Tagalog) is the predominant official language used in all official domains including administration, legislation, judiciary, finance, and education.