Hello this is Talk Academy in Baguio City, Philippines.
This time I would like to introduce about the local currency of Philippines, Peso.
There are coins of 1, 5, 10 and 25 centavos and bank notes of 20, 50, 100, 200, 500 and 1000 pesos. Four 25 centavos is equivalent to 1 peso.
For your information, a hundred dollars is about 5200 pesos if you change your money.
First, this is the biggest paper bill, 1000 Pesos.
A small tip to Talk Academy students: use a large amount of money when you go to big shopping malls or franchise stores because there is often no change when you go to the wet market, small convenience stores, or when riding a taxi so better take spare small bills always.
The second biggest amount of paper bill is 500 Pesos.
In the Philippine currency, the Philippine presidents and heroes are imprinted on the surface.
This is 100 Pesos.
Since December 2010, the Philippine Central Bank has replaced the old bank notes. The Central Bank first announced that the old bank notes are demonetized since January 1, 2017 so if you want to change your money to Philippine currency from Korean bank before coming to the Philippines, it is a must to check the money and make sure that you get the new bills, because the Philippines does not use the old currency anymore.
These paper bills are mostly used in the Philippines; 50 pesos and 20 pesos.
As I mentioned above, it is good to prepare small amount of money always.
From the left side, those are 10, 5, 1 peso and 25, 10, 0.5 centavo.
Last year, 2018 there was a change in the design of 5 peso and 10 peso but despite that, both new and old coins are accepted in the market.
The new 10 peso and 5 peso are both colored silver like the 1 peso so students are getting confused. You must check them well when using it.
Philippines does not only use paper bills, but also coins so it is recommended to take a coin purse!