The Central Bank of the Philippines (CB) is the sole authority empowered to issue currency in the country.

The monetary unit used in the Philippines is the peso (P, correctly spelled piso), divided into 100 centavos (c). The only  foreign currency to have in the Philippines is US dollars - it's no longer true to say that nothing else is considered to exist. The US dollar certainly exists more than most.

The CB seeks to ensure the integrity of the currency and enforces the highest degree of protection for the country’s currency. It provides the highest standard of service to banks and to the public. It makes sure that the demand for currency notes and coins is met  effectively and efficiently.