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The newest peso originated in the rule of Ferdinand II away from Aragon (1479–1516), and some see a similarity between one of his true regal icons, that has been shed to your bill, as well as the dollar sign. Particular features for this reason speculated your symbol emerged while the a stylistic type to your Arabic numeral 8, whether or not no files features appeared that show 8 being used to help you indicate the brand new Foreign language dollars. Its name is actually peso de ocho reales (otherwise “bit of 8 reales”), and you may, as its label implies, it actually was worth 8 systems of your own real, the former basic.
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