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The most generally approved theory retains that the indicator grew out in the Spanish and Spanish American scribal abbreviation "ps" for pesos. A analyze of late 18th- and early 19th-century manuscripts exhibits that the s gradually came for being penned over the p, developing into an in depth comparable to the "$" mark.
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The dollar sign almost certainly originated as shorthand to the Spanish peso, morphing in the emblem We all know currently.
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From the sixteenth and 18th centuries, a Spanish silver coin often known as a “real” was the currency of reference for environment trade. Through this time, the American colonies—which regularly traded with Spain—adopted the Spanish peso (or “peso de ocho reales”) as their own.
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It’s also been employed to be a image of greed — critics of enormous businesses may possibly make their place by introducing the dollar indicator into the identify of an organization.
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In composed data, the peso was typically abbreviated as “Ps”. As time passes, nevertheless, merchants and scribes began producing the "S" in excess of the "P" in haste, finally making a image that strongly resembled the fashionable dollar indicator.