noun
definition
A former unit of currency in Spain and Spain's colonies, worth 8 reales; the Spanish dollar.
definition
The currency of various countries, including but not limited to Argentina, Chile, Mexico and the Philippines.
Examples of peso in a Sentence
The peso is also the name of the Mexican dollar.
The silver peso weighs 25 grammes, .900 fine.
A half, fifth and tenth of a peso are coined in silver, in addition to bronze coins.
By a law of the 9th of December 1904, promulgated by an executive decree of the 25th of March 1905, the gold standard was adopted, and the silver peso, 9027 fine and containing 24.438 grammes of pure silver, was made the monetary unit with a valuation of .75 grammes of gold.
Before the introduction of the decimal monetary system the peseta was the fifth part of a peso dare, which was equal to 20 re i/es de velion, or rather more than a 5-franc piece.
The Argentinian peso was pegged to the dollar and was made freely convertible.
Being no longer current it has been replaced by the paper peso.
The gold value of the currency peso (75 = £1 in 1903, 70 = £I in 1904, 58 = £1 in 1905) fluctuates between limits so wide that conversion into sterling (especially for a series of years), with any pretension to accuracy, is impracticable.
The monetary unit is the silver peso or dollar of too cents, which weighs 25 grammes, .900 fine.
The value of the paper peso fluctuates; in 1904 the premium on gold stood at 640%.
The value of the silver peso in fractional silver money is about nineteen pence; in a single coin about twenty pence.
In 1895 a conversion law was passed in which the sterling value of the peso was reduced to 18d., at which rate the outstanding paper should be redeemed.
The conversion law of 1895 made the currency convertible at this rate, although the gold peso was rated at 48d.
The monetary unit, the gold peso, does not form a part of the actual coinage.
The silver coins are the peso of loo centavos and its fractional parts of 20, 10 and 5 centavos.
Uncertainty in regard to the value of the peso led the compiler to omit the equivalents in U.S. gold, but according to foreign trade returns these totals represent gold values, which at 4s.
This depreciation (10,000) was equivalent to a loss of 99% of the nominal value of the currency, a paper peso of loo centavos being worth only one centavo gold.
And devaluing the peso could boost inflation, as imported goods will become much more expensive.
But the decision in 1991 to peg the peso to the US dollar boosted confidence - investors deemed dealing in greenbacks a safer bet.
At one point, the exchange rate reached 28 pesos to the convertible peso in a number of provinces.
The argentine peso has been linked at one-to-one to the US dollar since the early 1990s as part of an effort to beat hyperinflation.
There is no Uruguayan gold coin in circulation, but the theoretical monetary unit is the gold peso national, weighing 1.697 grammes, .917 fine.
The old " peso " is no longer used except in accounts, and is reckoned at 4 bolivares, being sometimes described as a " soft " dollar.
It is legally equivalent to the silver peso, which continues in circulation.
The coinage of Mexico, now concentrated at the mint in the capital (all others having been closed) is based (since November 28, 1867) on the decimal system - the peso being divided into 100 centavos - and consists of gold, silver, nickel and bronze coins, whose weight and fineness are determined by the monetary law of 1904.
Fractional silver coin is not legal tender above 20 pesos, and bronze and nickel coins not above 1 peso, but the government maintains conversion offices where such coins can be converted into silver pesos without loss.
The silver peso, or dollar, of 100 centavas is the monetary unit, weighs 25 grammes.