The Philippine peso is the currency of the Philippines. Our records show the Philippine peso is the 19th most traded currency with us. The banknotes are printed on paper. The Bangko Sentral ng Pilipinas (BSP) is responsible for issuing the Philippine banknotes. Before the implementation of an official currency, Philippines participated in a gold barter system that eventually evolved into “piloncitos” which translates to “small pieces of gold”. In 1949, the Central Bank of the Philippines established a formal Filipino currency.