Saturday, August 13

Where do dollar and peso symbols come from and how they should be used

What is the difference between dollar symbol and peso symbol

To differentiate and know what type of currency the $ symbol represents, nomenclatures (ISO codes) are used for the official currency of each country, such as, for example, The US dollar uses the USD nomenclature, the Canadian dollar is CAD, the Mexican peso is represented by MXN, the Chilean peso uses CLP and the Argentine peso ARS.

Dolar Second Ola Covid-19 Coronavirus 2.jpg


In this way, the use of the dollar symbol can be accompanied by these nomenclatures to specify the currency. However, when the $ symbol is used together with the letters that indicate the country it represents, it is customary to use the first, the first (2 or 3) letters or the initials of the corresponding country.

For the US dollar use US (for the acronym in English for United States), for example, being US $ 1 a United States dollar, C $ 1 a Canadian dollar, MXN $ 1 a Mexican peso and AR $ 1 an Argentine peso.

Another way to identify the currency that the $ symbol represents is to use the letters mn at the end of the figure to indicate that the value is in the local currency.

What is the origin of the dollar symbol

The dollar symbol originates during the time of colonization of the American continent by the European powers. There are several theories about the origin of the symbol, being that of its Spanish origin the most accepted.

The overseas currency of Spain was called peso and began to be minted in America, for the first time, in 1536. The symbol used to represent the peso was Ps. One of the hypotheses about the origin of the dollar symbol is precisely the combination of the letters P y S.

Another hypothesis, since the initial dollar symbol had 2 vertical stripes crossing the S, is that the S represented the motto of the Spanish Empire of that time plus ultra (“beyond” in Latin) rolled up in the 2 pillars of Hercules (Strait of Gibraltar).

The word dollar is a translation of the English dollar that derives from Old German daler. The English colonies in America translated the Spanish peso as spanish dollar (“Spanish dollar)”.


Niceness: Expansion

After the Independence of the United States in 1776, the peso symbol was officially adopted in 1793 by the Americans to also represent the US dollar, thus becoming the dollar symbol.

One of the hypotheses about the disappearance of one of the vertical stripes of the dollar symbol states that it is due to the configuration of computer systems and keyboards that, nowadays, only present the dollar symbol or peso symbol with a single line.