peso

Peso is a monetary unit used in several countries, named from Spanish for weight. It originated in the Spanish Empire in the 16th century, referring to a coin weighing about 28 grams of silver—the peso de ocho reales, or piece of eight. The peso circulated broadly in the Americas and the Philippines, becoming a familiar standard of value and coinage in colonial and early national economies. Over time, many places adopted their own peso currencies.

Today, several independent nations use peso as their official currency, with each country issuing its own coins and banknotes and a subdivision of 100 centavos (or rarely another unit). Major examples include the Mexican peso (MXN), Argentine peso (ARS), Chilean peso (CLP), Colombian peso (COP), Philippine peso (PHP), and Uruguayan peso (UYU). Other examples include the Dominican peso (DOP) and Cuban peso (CUP). The exact value and stability of these currencies vary widely, reflecting local economic conditions and monetary policy.

The peso often uses similar symbols or the standard currency codes (ISO 4217) MXN, ARS, CLP, COP, PHP, DOP, CUP, UYU. In practice, many pesos are written with a dollar-like sign ($), leading to occasional confusion with the United States dollar. Regardless of denomination, the peso remains a common historical and contemporary unit across the Spanish-speaking world and beyond.