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History of the Philippine Monetary System
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History of the Philippine Monetary System

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Questions and Answers

The Philippine currency, Peso, reflects its colourful history through its name. Peso is derived from the Spanish peso or pieces of ______.

eight

Before the Spaniards came and conquered the Philippines, the precolonial Filipino tribes conducted their businesses and trades through the ______ system.

barter

Chinese merchants traded porcelain, silk, and some metalwork in exchange for the Filipinos’ gold, pearls, beeswax, and medicinal plants, leading to the adoption of gold rings as a medium of ______.

exchange

The Piloncitos are recognized as the earliest ______ in the country, dating back to the Spanish period.

<p>coinage</p> Signup and view all the answers

When Magellan’s expedition landed in the Philippine shores in 1521, he brought with him the Spanish silver ______.

<p>peso</p> Signup and view all the answers

The Columnarias were machine-minted coins containing fine ______.

<p>silver</p> Signup and view all the answers

In 1852, the first Filipino bank note was printed. It was called pesos ______.

<p>Fuertes</p> Signup and view all the answers

The Mexican Pillar Dollar or the Columnarias had twin crowned globes representing the Spanish rule over the Old and the New ______.

<p>World</p> Signup and view all the answers

The barillas were produced by the Ayuntamiento or the municipality of ______.

<p>Manila</p> Signup and view all the answers

The 1896 Cry of Balintawak headed by Andres Bonifacio signalled the start of the Philippine Revolutionary ______.

<p>period</p> Signup and view all the answers

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