The official currency of the Philippines is the Philippine Peso (symbol: ₱, currency code: PHP). It is issued by the Bangko Sentral ng Pilipinas (BSP) and is subdivided into 100 centavos. The word "peso" comes from the Spanish word for "weight," reflecting the country’s colonial history. The modern peso features colorful banknotes with prominent national heroes, landmarks, and cultural icons. The PHP is widely used for everyday transactions throughout the Philippines and plays a crucial role in remittances, with millions of overseas Filipinos sending money home each year. Travelers and businesses frequently monitor the AUD to PHP exchange rate to get the best value when exchanging currency or making payments..