Why does the dollar sign ($) look like an 'S'? It originally abbreviated which currency?

Question

AhaDaily · Accepted Answer

Spanish Peso It originally evolved from the standard abbreviation of the Spanish peso, written as 'Ps' in merchants' ledgers. Many believe '$' stands for 'U.S.' layered together, but it actually originated in the late 18th century as a scribal abbreviation for Spanish pesos ('Ps'). The 'P' and 's' merged over time into '$'.

Why does the dollar sign ($) look like an 'S'? It originally abbreviated which currency?

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