Peso << PAY soh >> originally was the name of the old Spanish dollar. It was called the peso de oro when it was made of gold, and the peso de plata when made of silver.
The peso was replaced by the peseta as the standard of value in Spain, and the peseta was later replaced by the euro (see Euro; Peseta). But the peso is still an important money unit in several countries that were formerly Spanish colonies, though its value varies in each country. It is the monetary unit of Argentina, Chile, Colombia, Cuba, the Dominican Republic, Mexico, the Philippines, and Uruguay. The name peso comes from the Latin word pensum, meaning weight.
