DEFINITION of 'Managed Currency' Any currency that can have its exchange rate

affected by the intervention of a central bank. This is opposed to a currency that

is determined solely by the forces of supply and demand in the world market.
Currency whose exchange rate is not determined by the free-market forces of
demand and supply but instead is maintained at a certain level by the
government's intervention through the country's central bank

Banknotes of the Philippine peso are issued by the Bangko Sentral ng

Pilipinas (Central Bank of the Philippines) for circulation in the Philippines. The
smallest amount of legal tender in wide circulation is 20 pesos and the largest is
1000 pesos. The front side of each banknote features prominent people along
with buildings, and events in the country's history while the reverse side depicts
landmarks and animals.

A country's official, paper currency that is circulated for transaction-related

purposes. The printing of paper money is typically regulated by a country's central
bank/treasury in order to keep the flow of money in line with monetary policy.
Monetary policy is the process by which the monetary authority of a country, like
the central bank or currency board, controls the supply of money, often targeting
an inflation rate or interest rate to ensure price stability and general trust in the
currency.

Other textile materials made be used or incorporated, but linen and abaca are the
most commonly used fibers. The new Philippine banknotes / paper currencies are
made of 80% cotton and 20% abaca. The use of abaca instead of linen is a fitting
material for our own currency since abaca is one of our raw products