Simplify the following text for a Grade 6 native English-speaking person.
Original: In 1905 , the peso was replaced by United States currency .
Simplified: A second currency , the franco , was issued between 1891 and 1897 but did not replace the peso . However , in 1905 , the peso was replaced by the U.S. dollar , at a rate of 5 pesos to the dollar .