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The Philippine peso (Filipino: peso, ISO 4217 currency code: PHP) is the legal tender of the Philippines, and 1 Philippine peso is equal to 100 centavos (Filipino: sentimo). Currency: 1、2、5、10、25、50 cents and 1、2、5、10、20、50、100、200、500 and 1000 pesos.
The United States Dollar, referred to as USD, is the official currency of the United States and one of the most widely used currencies in the world. The U.S. dollar plays an important role in international trade, financial markets and the global economic system, affecting global economic operations. The following provides an in-depth look at the history, characteristics, usage, and international and domestic impact of the U.S. dollar. The history of the dollar The history of the dollar can be traced back to the American Revolutionary War at the end of the 18th century. At the time, the various forms of currency circulating throughout the United States led to economic chaos. In order to establish a unified monetary system, the U.S. government established the U.S. Mint in 1792 and began to mint unified coins. However, in the early 19th century, there were still multiple local currencies in the United States, leading to currency chaos. In 1862, the U.S. federal government issued the first banknotes, known as "greenback notes." These notes were originally used to raise funds to pay for Civil War expenses, but have since evolved into the primary form of currency in the United States. In 1913, the United States established the Federal Reserve System, which was responsible for issuing and managing U.S. dollars. Characteristic currency code of the US dollar: The currency code of the US dollar is USD, which is a code specified according to the international standard ISO 4217. Coins and banknotes: US dollar coins include denominations of 1 cent, 5 cents, 10 cents, 25 cents, 50 cents and 1 dollar, while banknotes come in 1 dollar, 5 dollars, 10 dollars, 20 dollars, 50 dollars U.S. dollars and $100 equal denominations. Designs and Elements: U.S. dollar coins and banknotes feature U.S. historical figures, national symbols, presidential portraits, important buildings and other cultural elements. Usage of the U.S. dollar The U.S. dollar is widely used in the United States for various economic transactions and daily consumption. It is used to pay for goods and services, pay wages, make investments and savings, etc. The U.S. dollar is the cornerstone of the U.S. economy and also plays an important role internationally. The international impact of the US dollar The US dollar is one of the world's major reserve currencies and is widely used in international trade and financial markets. Many countries store their foreign exchange reserves in U.S. dollars and conduct international trade settlements in U.S. dollars. In addition, the U.S. dollar also serves as the main currency for foreign exchange transactions and bond issuance internationally. The international status of the dollar allows the United States to influence the economic policies of other countries and global financial stability. However, the international status of the U.S. dollar also brings some challenges, including the possible impact of U.S. exchange rate fluctuations on the economies of other countries, and the possible impact of U.S. monetary policy on the stability of global financial markets. Challenges and Prospects of the U.S. Dollar The U.S. dollar faces challenges such as exchange rate fluctuations, inflation, and fiscal policies. These factors may have an impact on the U.S. economy and the international financial system. In addition, with the rise of other countries' currencies and changes in the international economic landscape, the international status of the U.S. dollar may also face changes. In short, as one of the most important currencies in the world, the US dollar plays an important role in the international and domestic economy. Its stability and changes will have a major impact on the global economy and financial markets, so the movement of the US dollar has attracted the attention of governments, central banks and investors.
Renminbi (Renminbi), referred to as CNY, is the official currency of the People's Republic of China and one of the most widely used currencies in the world. The renminbi plays an important role in China's domestic and international use, and it plays a key role in promoting economic development, strengthening international cooperation, and enhancing China's influence in the global economy. The following is an in-depth introduction to the history, characteristics, domestic and foreign usage of RMB, and its status in the international financial system. History of the RMB The history of the RMB can be traced back to 1948, when the Central People's Government began to issue a new currency to replace the currency issued by the old Chinese Nationalist government on the eve of the founding of the People's Republic of China. In 1955, the renminbi replaced the old currency as China's only legitimate legal tender. Characteristics of RMB Currency code: The currency code of RMB is CNY, which is a code specified according to the international standard ISO 4217. Currency unit: The currency unit of RMB is "yuan", which is divided into jiao and fen, but the use of jiao and fen is not common in actual transactions. Coins and banknotes: RMB coins include 1 yuan, 5 jiao, 1 jiao and other denominations, while banknotes have 1 yuan, 5 yuan, 10 yuan, 20 yuan, 50 yuan, 100 yuan and other denominations. Patterns and elements: RMB coins and banknotes are printed with Chinese historical figures, scenic spots, national culture and other elements, reflecting China's cultural traditions and modern development. The Use of the Renminbi Within China, the Renminbi is the only legal tender used to pay for goods and services, wages, investments, savings and other economic transactions. Its position in the Chinese economy is irreplaceable, and it directly affects the domestic economic operation and the stability of the financial system. International influence of RMB In recent years, the use and influence of RMB in the world has gradually increased. The Chinese government promotes the internationalization of RMB and encourages the international use of RMB for trade settlement, investment and bond issuance. The RMB has also become one of the currencies in the Special Drawing Rights (SDR) basket of the International Monetary Fund (IMF), further consolidating its international status. RMB's international financial status RMB's status as an international reserve currency has gradually increased, and many countries have begun to hold RMB in their foreign exchange reserves. The international use of RMB further promotes the opening of China's financial market and international financial cooperation. Challenges and Prospects of the RMB Although the use of the RMB continues to expand internationally, it still faces some challenges. These include issues such as RMB exchange rate fluctuations, the process of opening up the financial system, and the international trust of the RMB. The Chinese government actively responds to these challenges and continues to promote the internationalization of the RMB.
Hong Kong dollar
The Hong Kong dollar (abbreviation: HKD) is the official currency unit of the Hong Kong Special Administrative Region. The following are some introductions about Hong Kong dollars: Issuing institutions: The right to issue Hong Kong dollars is held by the Hong Kong Special Administrative Region Government, and the Hong Kong Monetary Authority (HKMA) is responsible for implementing monetary policy and supervising the financial system. Currency Symbol: The currency symbol for the Hong Kong dollar is "HK$". Currency Unit: The currency unit of the Hong Kong dollar is divided into several denominations, including banknotes and coins. The denominations of banknotes are 10 yuan, 20 yuan, 50 yuan, 100 yuan, 500 yuan and 1000 yuan. Coin denominations include 10 cents, 20 cents, 50 cents, 1 yuan, 2 yuan and 5 yuan. Connection with the US dollar: The currency system of the Hong Kong Special Administrative Region is linked to the US dollar, that is, there is an exchange rate link between the Hong Kong dollar and the US dollar. This means that the value of the Hong Kong dollar is somewhat correlated to the U.S. dollar, and because of this connection, the exchange rate of the Hong Kong dollar is somewhat affected by fluctuations in the U.S. dollar exchange rate. Stability and scope of circulation: The Hong Kong dollar is considered to be one of the relatively stable currencies in the international financial market, with a wide scope of circulation. Hong Kong is an international financial center and the Hong Kong dollar is used globally for business transactions and investment activities. Anti-counterfeiting measures: The Hong Kong Special Administrative Region Government is committed to ensuring the anti-counterfeiting performance of Hong Kong dollars. Hong Kong dollar banknotes and coins are equipped with various anti-counterfeiting technologies to prevent counterfeiting. In short, as the official currency of the Hong Kong Special Administrative Region, the Hong Kong dollar plays an important role in Hong Kong and the international economy, and has stability and circulation. When it comes to the Hong Kong dollar, there are some other important aspects to know: Linked exchange rate system: Hong Kong's monetary policy uses the linked exchange rate system, which means that the exchange rate between the Hong Kong dollar and the US dollar fluctuates within a certain range. The Hong Kong dollar fluctuates between HK$7.75 and HK$7.85 to the US dollar, and if the exchange rate falls outside that range, the Hong Kong Monetary Authority will intervene to maintain stability. Foreign exchange reserves: The Hong Kong Special Administrative Region has a large amount of foreign exchange reserves, which is to support the stability of the Hong Kong dollar exchange rate. Foreign exchange reserves can be used to intervene in the market to prevent large fluctuations in the Hong Kong dollar exchange rate. Internationalization of Hong Kong dollar: Hong Kong dollar not only circulates widely in Hong Kong, but also plays an important role in international trade and finance. Many international companies have established offices in Hong Kong, as well as Hong Kong's geographical location and developed financial system, all of which have contributed to the widespread use of Hong Kong dollars in international business transactions. Financial Center Status: As an international financial center, Hong Kong has a well-developed financial system and market. As one of the main currencies for financial transactions in the region, the Hong Kong dollar has attracted investors and financial institutions from all over the world. Hong Kong dollar and RMB relationship: With the rise of China's economy, Hong Kong has played an important role in the internationalization of RMB. Although the Hong Kong dollar and the renminbi are two different currencies, the renminbi is also widely accepted in Hong Kong and the exchange between the two currencies is relatively easy. In general, the Hong Kong dollar plays an important role in Hong Kong's economy, financial system and international trade. Its stability, liquidity and link to the U.S. dollar make the Hong Kong dollar a highly-watched currency.
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USDC is another stablecoin backed by the US dollar. It operates in a transparent and compliant manner, providing secure digital currency transfer and stored value solutions.
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Bitcoin is the first cryptocurrency and represents the origin of blockchain technology. As digital gold, BTC has the characteristics of limited supply, decentralization and global recognition, and is widely used for value storage and transactions.
1、PassTo provides what services?
PassTo is the simplest solution for finding and comparing currency exchange rates. It provides real-time quotes from banks and currency exchange dealers. PassTo updates exchange rate quotes from nearby money changers and banks in real-time, making it easy for you to find the latest and best rates for cash exchange nearby.
2、 How can merchants join us as our quoting partners?
Please contact us via WhatsApp (+44 7491771091) and we will arrange for a dedicated person to follow up with you.
3. What are the differences between PassTo certified merchants
Merchants with certification labels are merchants who have entered into special cooperation with the platform. They will be stationed in merchant customer service and provide real-time online consultation services. Such merchants have conducted real exchange cooperation with the platform and have higher transaction security guarantees.
4、Can I directly make an appointment for exchange with the merchant through the PassTo platform
In contact with merchants, please stay tuned...
5、How to find the most suitable currency exchange dealer
You can determine which exchange merchant to choose based on the following dimensions: exchange rate price, distance, etc. Additionally, we provide two ways to help you find a suitable exchange merchant:1) Exchange - select the currency pair you want to exchange and view the list of merchants that offer exchange services. Choose a suitable merchant;2) Map - select the currency pair you want to exchange and view the location of merchants who offer exchange services on the map, as well as their quotes and distances. Choose a suitable exchange merchant.
6、 How to check the exchange rate and available amount for a target currency pair
Switch to the exchange or map page, select the currency you have in hand and the currency you want to receive/pay. You can then view the best exchange rate provided by merchants included on our platform, as well as the amount of currency you will receive/pay. If a merchant is able to provide an exchange service for the currency you have selected, it will be displayed in the merchant list. The platform will calculate the amount of currency you will receive/pay based on the exchange rate published by merchants.
7、The source of PassTo's merchant quotes and whether they are genuine
PassTo's merchants include currency exchange shops and banks, and their exchange rates are derived from collecting and organizing the rates published by merchants through various channels. As currency exchange rates fluctuate, the exchange rates displayed by PassTo's merchants are for reference only. The actual exchange rate will be based on the rate displayed at the merchant's store after arrival.