peso: meaning, definition, pronunciation and examples
C1Formal, Financial
Quick answer
What does “peso” mean?
The basic monetary unit of several Latin American countries and the Philippines.
Audio
Pronunciation
Definition
Meaning and Definition
The basic monetary unit of several Latin American countries and the Philippines.
A coin or banknote representing one peso; used as a standard reference for currency values in specific national economies. Can also refer to the value or purchasing power of this unit.
Dialectal Variation
British vs American Usage
Differences
No significant difference in meaning or usage. Both UK and US English speakers use the term in the same specific, currency-related contexts when referring to the relevant nations.
Connotations
Connotes the economic sphere of specific nations (e.g., Mexico, Chile, Philippines). May carry connotations of emerging markets or specific regional trade.
Frequency
Low frequency in general discourse in both varieties, except in financial news, travel contexts, or discussions involving specific countries.
Grammar
How to Use “peso” in a Sentence
The [COUNTRY] peso [VERB: strengthened/fell/traded at...][AMOUNT] pesos [for/on/in] [ITEM/SERVICE]to exchange [CURRENCY] for pesosVocabulary
Collocations
Examples
Examples of “peso” in a Sentence
verb
British English
- (Not applicable as a verb)
American English
- (Not applicable as a verb)
adverb
British English
- (Not applicable as an adverb)
American English
- (Not applicable as an adverb)
adjective
British English
- (Not applicable as an adjective)
American English
- (Not applicable as an adjective)
Usage
Meaning in Context
Business
Used in international finance, forex trading, and import/export: 'The firm hedged its exposure to the Mexican peso.'
Academic
Used in economics, political science, or history papers discussing Latin American economies.
Everyday
Used when travelling, shopping, or discussing prices in peso-zone countries: 'This souvenir costs fifty pesos.'
Technical
Used in banking and currency exchange with specific ISO codes (e.g., MXN, CLP).
Vocabulary
Synonyms of “peso”
Vocabulary
Antonyms of “peso”
Watch out
Common Mistakes When Using “peso”
- Incorrect pluralisation as 'pesoes' (correct: 'pesos').
- Using 'peso' as a generic term for any foreign currency.
- Misspelling as 'pesso'.
FAQ
Frequently Asked Questions
No, Spain uses the Euro. 'Peso' is the currency of former Spanish colonies like Mexico, Chile, Colombia, and the Philippines.
The plural is 'pesos'. The 's' is pronounced /s/ in both British and American English.
Countable. You can have one peso, fifty pesos. When referring to the currency as a concept (e.g., 'The peso is strong'), it is treated as singular.
Use the currency symbol '$' often preceded by the country code (e.g., MX$100 for Mexican pesos) or the abbreviations 'MXN', 'CLP', etc. In context, simply '$' or 'pesos' is used (e.g., 100 pesos or $100).
The basic monetary unit of several Latin American countries and the Philippines.
Peso is usually formal, financial in register.
Peso: in British English it is pronounced /ˈpeɪsəʊ/, and in American English it is pronounced /ˈpeɪsoʊ/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “Not worth a peso (virtually worthless)”
- “A peso for your thoughts (regional variant of 'penny for your thoughts')”
Learning
Memory Aids
Mnemonic
Think of PAY-SO: you PAY for things in Mexico and SO many other places with the peso.
Conceptual Metaphor
MONEY IS A FLUID ('The peso is flowing out of the country'), MONEY IS A FORCE ('The peso took a pounding on the markets').
Practice
Quiz
In which of these contexts would the word 'peso' be LEAST appropriate?