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The Philippine monetary unit is spelled as "peso."
The types of monetary standards are: Commodity Standard or Metallic Standard and Non-Commodity Standard or Fiat Standard
The main laws to do with the Philippine monetary system involve interest rates and taxation. The government can alter interest rates to increase or decrease money flows.
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Philippine Population in 2009: 92.227 Million Source: International Monetary Fund- 2011 World Economic Outlook
The monetary system in the Philippines is quite diverse. It has changed over time and has even gone through periods of inflation.
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Brown's New Monetary Standard - 1913 was released on: USA: 9 August 1913
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A monetary standard is what gives money value. Paper or coin currency has no inherent value; its value comes from the standard backing it up. For example, the monetary system in the United States runs on a gold standard. This means that all the money and commerce in the United States can be backed up with the gold the United States possesses. The monetary standard is important in that it allows the economy to function and for goods and servies to be bought and sold.
gold standard