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What Happened With the Spanish Peso?
Peru was originally a giant silver mine for the Spanish Empire. Spain exploited this mine to such an extent that they garnered, I think it was something like 30 or 40% of the above ground silver in the world at one point in the 1500s. They created the Spanish peso, which was a standard unit of account for silver. The reason why we even have a dollar sign is because of the Spanish Peso.