The term PESO is used to refer to the currency of several countries, including Mexico, Argentina, and the Philippines. It is derived from the Spanish word for weight, and is also known as a COIN (4 letters) or DURO (4 letters). In Mexico, the peso is divided into 100 centavos, while in Argentina it is divided into 100 centesimos. The peso is the official currency of many Latin American countries, and is also used in some Caribbean nations.