PHP

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PHP

The ISO 4217 currency code for the Philippines Peso.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

PHP

ISO 4217 code for the Philippine peso. While its origins date to 1852, the modern peso came into being following the independence of the Philippines in the 1940s. It was originally pegged to silver and gold, but overprinting and hoarding of currency caused it to become a floating currency in 1964. Since independence, the Philippines government has consistently devalued the peso in order to reduce the nation's debt in domestic terms. This has made it a weak currency.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Mohammed Idris, CFO of PHP Group stated, “We are already realizing benefits from this implementation which is ensuring optimization and flexibilities matching our needs and standardization of our core financial business processes.”
Md Abdullah Farid, AGM - IT and Project Manager of the PHP Group further noted, "IBCS-PRIMAX has proved their capability and successfully completed all contractual obligations of the project and assignment to our full satisfaction with a tremendous effort.”
PHP Group, founded in 1969 in a different name, has investment in several diversified import-substitute concerns in different sectors like steel, power, glass, shipping, commodity trading and agro-based concerns and is among the highest contributors to Government exchequer.