One of the mysteries of the English language finally explained.
The basic monetary unit of Mexico, several other Latin American countries, and the Philippines, equal to 100 centésimos in Uruguay and 100 centavos elsewhere.
- ‘At the height of vote counting in the Congress last week, the peso tumbled to an all-time low of 56.43 pesos to the U.S. dollar.’
- ‘The Uruguayan peso, whose value has halved since the middle of June, plunged even further when foreign exchange controls were lifted.’
- ‘Mexican pesos and US dollars are interchanged at the general exchange rate of 10 pesos per $.’
- ‘Now, he is told, his savings have been converted into pesos, currently worth a third of a dollar, and he cannot touch them until next year.’
- ‘Cuba now has an odd dual economy in which some stores accept only pesos and others accept only dollars.’
Spanish, literally ‘weight’, from Latin pensum ‘something weighed’, from the verb pendere ‘weigh’.
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