peso

noun

Etymology: Etymology tree Spanish pesobor. English peso Borrowed from Spanish peso.

1. A former unit of currency in Spain and Spain's colonies, worth 8 reales; the Spanish dollar.
2. The circulating currency of various Spanish-speaking American countries (Argentina, Chile, Colombia, Cuba, the Dominican Republic, Mexico, and Uruguay) and the Philippines.

   “The value of the peso has plummeted 858% against the US dollar over the past five years as the central bank printed more of the currency to help the country’s spendthrift government avoid defaulting on its debts. […] To dollarize its economy, Argentina would need to exchange all pesos held by its people and businesses for US dollars, and assign a dollar value to all of its assets and contracts.”