Apr
9
2011

Philippine’s Money And Economy

A visitor requested more information about our people, etc., in her planned trip to Manila…let me start with our economy and money.

Economy

Philippine economy is agriculture-based, with vast farmlands planted to staples such as rice and corn.  The country is also the world’s largest producer of coconuts.  Other sectors like mining, fishing, manufacturing, electronics, and other industries contribute significantly to the economy of the nation.

Money

The unit of currency is the Philippine peso (P).  Notes are issued by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) in denominations of P5, P10, P20, P50, P100, P500, and P1,000.  Coins come in 5c,(centavos), 10c, 25 c, P1, P2 and P5.

Foreign currency may be exchanged at any hotels, most large department stores, banks, and authorized money changing shops accredited by the Central Bank of the Philippines.  International credit cards such as Visa, Diners Club, Bank of Americard, Master Card, and American Express are accepted in major establishment.

Nicetas

About the Author: Nicetas Juanillo

Writing makes me happy away from home. My website is where you can find my tips about lifestyle, health and other issues. I also have books on my site that you can read to know more

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