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Philippines Currency Guide: History and
 Exchange Rate
The Peso or Piso, its Filipino name, is the official currency of the country of the Philippines. Its SIO
currency code is PHP, and this is its symbol: ₱. As foreigners say, this is Filipino money.

Like other currencies around the globe, the value of the Philippine Peso is intertwined with trading and
 sovereignty of a country.

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 History of the Philippine Peso

The brief history lesson about the Philippine Peso can be divided into six different periods according to
compareremit.com: Pre-Hispanic Era, Spanish Occupation, Revolutionary Period, American Occupation,
Japanese Occupation, and the Philippine Republic.

Pre-Hispanic Era
Piloncitos were the first pieces of gold that came into coinage. Before this, the barter system was
imposed, and then cowry shells were used for buying and selling in the early days.

The Spanish Occupation

During 1521-1897, the Spanish introduced coins to the Philippines. They also brought the first paper
money in. Pesos Fuertes was the first paper money in circulation, which was issued by the first bank in
the Philippines: El Banco Español Filipino de Isabel II.

Revolutionary Period
In the period 1898-1899, the Spanish-Filipino was replaced. Emilio Aguinaldo, the first Philippine
president, issued independent coins and paper currency under the Malolos Constitution.

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
The American Occupation
After the 1898 Declaration of Independence of the Philippines, the United States took over in 1901.
 During this period, the Philippine pesos was based on the gold standard. Of course, it was also pegged
to the American Dollar. From 1903 to 1946, the exchange rate was 2 Philippine pesos per 1 USD.

El Banco Español Filipino was then renamed Bank of the Philippine Islands in 1912. It should also be
noted that the language being used for the currency was changed from Spanish to American English.

The Japanese Occupation
 The time of the Japanese Occupation was also the time of World War II. This was the time that
“Mickey Mouse” money emerged. Such money were big in denominations but it has no backup
reserves.

But, there were provinces that created their own currency as an act of resistance to the Japanese
government.

The Philippine Republic

Finally, the Filipino Currency was reintroduced in 1949, the same time that the Central Bank of the
Philippines was established. Initially, the banknotes were issued in English, but in 1960s, the currency
integrated Filipino in its issuances.

As the Philippines regained and maintained its sovereignty, it had full control on the Philippine peso.
The latest update was the New Generation Currency (NGC) Banknotes that was first issued in 2010
and is still in circulation as of today. But, recently, BSP has issued new polymer banknotes which they
say will be more durable compared to the NGC.

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The Foreign Exchange Rate

Practically, when it comes to investment or in doing business, people care about the exchange rate.
According to Investopedia, exchange rate is generally defined as a rate or the equivalent value of one
currency as exchanged to another. The exchange rate is affected by trade and money movement in
each individual country.

As mentioned above, 1 USD used to be exchanged for 2 Philippine pesos. As of writing, the value of
one US Dollar is equivalent to more than 55 Philippine pesos.

In trading, however, there are two exchange rates to know about. The buying rate and the selling rate.
The buying rate, known as “bid”, is the price at which a buyer is willing buy or acquire a currency. The
selling rate or “ask” is the price at which a seller is willing to sell or let go of a currency. The difference
or the gap between these two is called the spread.

Usually, the “bid” is lower than the “ask” so the formula to compute the spread is:

ask – bid = spread

Knowing the difference of ask and bid can help someone who is into foreign exchange investment. To
have profit in this, you have to know when to buy and when to sell a currency.
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But speaking of investments, one that’s good to have is real estate. How may I help you today? 
 How many pesos would you need to acquire real property?
Making a real property investment can come in different forms. You may be buying personal property
or a rental property. Real estate transactions range from acquiring raw land and undeveloped property
to having to purchase one’s dream home or luxury house.


To find the best luxury houses in the Philippines or luxury condo, make sure that you are dealing with a
trustworthy and reputable developer or realtor like Brittany Corporation. Get a virtual tour of Brittany
homes through our YouTube channel.

Residential Real Estate

Start investing your pesos into residential real estate. If you are not yet into acquiring a house or a
luxury condo, you can begin with acquiring vacant land at Lausanne at Crosswinds. Luxury lots ranging
from 322 to 596 sqm are waiting for you to build your dream home here.

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If you’re looking to spend your peso for single-family homes, there are several types of luxury house by
 Brittany Corporation. Guaranteed, you are to find the best luxury houses in the Philippines here.
Suggested Read: The Impact of Inflation Rate on Real Estate Investors
Suggested Read: Why Developers Buy Real Estate in Bitcoin and Ethereum

Visit Vista Alabang for Italian inspired house and lot for sale. For a feel of the American countryside,
choose to dwell in Sta. Rosa, Laguna. For those in search of luxury condo or luxury house that feels like
you are in the Swiss Alps, easily find a property that suits you at Crosswinds Tagaytay.

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
You may also view the complete list of properties here: Brittany Property Listings


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
With almost everyone putting up their own business, getting to invest in commercial real estate is a
 good path to take. You can opt to buy buildings or develop one and have it available for rental. Rental
property is a good source of passive income. Rent can come in if a building is developed as an office
 building, a shopping center, or more.

Although it comes with many challenges, like managing tenants or collecting rent, it remains a
profitable investment, especially since the market is growing as competitive as ever.

A Peek into the Real Estate Market in Other Countries

For sure, you are getting more curious about the real estate industry. Houses in the Philippines may not
be enough, and now you may want to know what it is like in other countries since we talked about
exchange rates. So, let’s take a peek at the real estate market in some of them.

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
In New York, the average price of housing is at $779,000. In Paris, a house costs 8,017 Euros per sqm
 on average. In Italy, housing starts at 18,670 EUR. In London, the average house price is £708,713.
These sale prices may be out of reach for most, but living in this area is more than fulfilling. So, start
 your computation now as to how many Philippine pesos you would need to save in order to purchase a
house abroad. It would not hurt anyone to dream big once in a while.

Yet, if you are craving a distinctive living experience, you can always choose to own one of the beautiful
Brittany homes.

You may also stay updated with our events and happenings: Brittany News and Updates

Be Part of Brittany’s Real Estate Professionals

Looking to produce income through real estate? Look no further than Brittany’s Real Estate
Professionals! We are a group of experienced buyers, investors, and property developers who are
passionate about helping others succeed in the real estate industry.

In addition to helping our clients choose the ideal house, we also provide guidance and advice about
investments. Don’t be afraid to contact our team on Facebook; our team has the expertise to support
your success in the real estate sector.

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 Brittany the premier name in luxury real estate development in the Philippines, is a subsidiary of Vista Land & Lifescapes, the largest and most
successful homebuilder in the Philippines and pioneer in themed real estate development. With Brittany's Old World European and American-themed
projects, Brittany creates masterpieces of upscale living for sophisticated home buyers with a taste for artful living. Brittany offers a fine selection
of home designs in excellent locations: Portofino in Alabang, La Posada in Sucat, Georgia Club in Sta. Rosa, Laguna and Crosswinds in Tagaytay.

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