Philippines Currency & Banknote Values

In 1521, Portuguese explorer Ferdinand Magellan’s expedition arrived in the Southeast Asian archipelago and claimed the islands for Spain before being killed at the Battle of Mactan. In 1543, Spanish explorer Ruy López de Villalobos named the archipelago Las Islas Filipinas, in honor of King Philip II of Spain. The Philippines remained part of the Spanish Empire for more than 300 years.