The latest on Australian dollar to Philippine peso rates
To learn more about the history of the Philippine peso and its relationship with the Aussie dollar, keep reading below.
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The lowdown on the Philippine peso
When Queen Isabella II approved the creation of the Casa de Moneda de Manila and a proper monetary system in 1857, it had been a long time coming for the Philippines. The Spanish colonial period had seen pesos from around the world flood into the country, causing confusion with their different weights and values.
The system remained until the Philippines gained independence in 1898 that the Spanish-Filipino peso was replaced with the Filipino peso, confirming the country’s new sense of freedom. After being taken over by the United States in 1901, the currency was changed to equal exactly half a US dollar, and it wasn’t until 1949 that the Central Bank of the Philippines was established and the Philippine peso made its comeback.
Today, the Philippine peso can be found in an eye-catching range of colourful banknotes, which bear the images of everyone from the former president, Manuel L. Quezon, to Josefa Llanes Escoda, otherwise known as the ‘Florence Nightingale of the Philippines’.
Available in 20, 50, 100, 200, 500 and 1,000 denominations, the flip-side features striking images depicting some of the Philippines’ most majestic wildlife and natural beauty. The 500 peso note is particularly fetching, displaying an image of a Blue-Naped Parrot set against a backdrop of the Puerto Princesa Subterranean River National Park.
With reports in 2016 confirming the country to be showing the strongest economic growth in Asia during 2016 at 7.1%, things are looking financially positive for the people of the Philippines.
Historic Australian dollar to Philippine peso rates
The exchange rate between the Australian dollar and the Philippine peso has settled between 32.42 and 38.74 for the last two years.
Looking back over the 10-year history, and the difference between the highs and lows have not been quite as drastic as other currencies affected by the economic slump of 2008. At its very lowest point, you would have received 29.54 Philippine pesos for each of your Aussie dollars back in February 2009. Just over two years later, in April 2011, you would have come out with the best deal of the decade, with 47.21 pesos for your dollar.
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