PHP to RSD

PHP - Philippine Piso (₱)

The Philippine peso is the official currency of Philippines. It is commonly depicted by the symbol ₱. Written abbreviations include: PhP, Php, P$, or P. The official currency code for the peso is PHP.

The Peso is the foreign currency of the Philippines. It's subdivided into one hundred centavos. Prior to 1967, English was used on all notes and coins, hence the term “peso” was used as the name of the currency in the Philippines. When Filipino was introduced as a written language, the term used on notes and coins became “piso”.

The Philippine Peso is the currency in Philippines (PH, PHL). The symbol for PHP can be written P. The Philippine Peso is divided into 100 centavos. The exchange rate for the Philippine Peso was last updated on Today from The International Monetary Fund. The PHP conversion factor has 6 significant digits.

Economy

• The Philippines is estimated to be the 45th largest economy in the world, with a GDP of USD$216 billion (2011). Major exports includes semiconductors and other electrical components, transport equipment, clothing, copper and petroleum products and fruits.
• In recent times, the Philippines has been transitioning from a agricultural-based economy to one that increasingly relies on services and manufacturing. Agriculture now only accounts for roughly 30% of the workforce and about 14% of GDP.
• The economy of the Philippines was the second largest in East Asia after World War II. However the economy stagnated until the 1990s, based on economic policies and political volatility, and other Asian countries surpassed the Philippines in terms of GDP growth.
• In the 1990s, a new program of economic liberalization was introduced, leading to economic recovery until the 1997 Asian Financial Crisis.

History

• Prior to the introduction of a formal currency, trade in the Philippines was performed using a barter system, and later on “piloncitos” (small pieces of gold) and gold barter rings.
• The Spanish introduced coins to the Philippines when they colonized the country in 1521. However, the coins used by Filipino people were minted in various Spanish countries around the world, leading to major inconsistencies in purity and weight.
• In 1861, the first mint was established in order to standardized coinage.
• After the Philippines gained independence in 1898, the country’s first local currency was introduced, replacing the Spanish-Filipino Peso.
• The United States captured the Philippines in 1901, and established a new unit of currency that was pegged to exactly half of a US Dollar in 1903.
• During World War II, the Philippines was occupied by Japan, and new notes were introduced yet again.
• The Central Bank of the Philippines was established in 1949, leading to the reintroduction of a formal Filipino currency.

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RSD - Serbian Dinar (РСД)

Serbian Dinar

The Dinar is the foreign currency used in Serbia since the disintegration of the Federal Republic of Yugoslavia in 2003. Earlier versions of the Serbian Dinar existed prior to World War I and during German occupation in World War II. The earliest use of the term Dinar dates back to 1214.

The Serbian Dinar is the currency in Serbia (RS, SRB). The Serbian Dinar is also known as Serbe Dinar. The exchange rate for the Serbian Dinar was last updated on May 24, 2019 from Yahoo Finance. The RSD conversion factor has 5 significant digits.

Economy

• Serbia’s GDP of ~US$11,079 (PPP) makes it one of the smaller economies in Europe, though globally it is considered an upper-middle economy. GDP Growth has been strong in recent years; its ~8.7% GDP growth in 2008 put Serbia amongst the fastest growing economies in the region.
• Serbia’s rate of unemployment is quite high, reaching 23.7% in February 2012.
• Serbia has a very large trade deficit. Being a landlocked country with very limited natural resources, most necessities are imported from neighboring countries. Serbia has free trade agreements with the European Union, Russia, and Belarus.
• Raspberries are one of the largest exports for the country. Serbia grows and provides nearly 1/3 of the world’s raspberries.
• Serbia is an associate member of the EU.

History

• The first mention of a Serbian Dinar is connected with the reign of Stefan Nemanjić in 1214. Serbian Dinar coins were minted by many of the rulers in the region until the fall of Stefan Lazarević in 1459.
• For the next few centuries, several varying currencies were used in the the Serbian area. The first modern Serbian Dinar coins were minted in 1868, and the first Dinar banknotes were issued in 1876.
• In 1920, following World War I, the Serbian Dinar was replaced by the Yugoslav Dinar (at par).
• Following the German occupation of Yugoslavia, the region was again split into Serbia and Montenegro. At this time, the Yugoslav Dinar was replaced by the Serbian Dinar in 1941, at a rate of 1 Yugoslav Dinar = 20 Serbian Dinars.
• In 1944, the reconstitution of Yugoslavia occurred and the Serbian Dinar was again replaced by the Yugoslav Dinar at the same rate of 1 Yugoslav Dinar = 20 Serbian Dinars.
• In 2003, following the final dissolution of Yugoslavia, the Serbian Dinar became the official currency of Serbia, replacing the Yugoslav Dinar at par.

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