Philippine peso (PHP)

The Philippine peso (ISO code: PHP, symbol: ₱) is the official monetary unit of the Philippines, administered by Bangko Sentral ng Pilipinas. Rooted in Spanish colonial silver coinage, the peso became a decimal currency under American administration in 1903. Subdivided into 100 sentimos or centavos, the peso abandoned its fixed peg to the US dollar in 1970 and currently functions under a flexible, market-determined float regime.