BER Currency News

BER Home/s

  1. Guides
  2. Currencies (A-Z)
  3. Philippine Peso (PHP)

Philippine Peso (PHP) - Currency Guide

In this currency guide we look at :


  1. PHP General Info
  2. PHP Recent Performance
  3. PHP Market View
  4. PHP Cross Rates

Philippine Peso General Info

The three letter currency code for the Philippine Peso is PHP and the symbol is ₱. It is the domestic currency in Philippines.

The Philippine peso is termed an ‘exotic’ currency, which means that there is far less participation in the market for pesos than in the market for more established currencies, such as euros or Australian dollars. For this reason, the price paid to change your money into or from pesos (the price being equivalent to the market bid-ask spread) is far higher relative to the amount of money being changed than it would otherwise be.

‘Liquidity’ in the peso market, or the level of participation, is also far less than in many other emerging market currencies, including the Indian rupee, the South African rand, the Brazilian real and even the Thai baht, among others. In fact, even though the Philippine peso is the world’s thirty-third most traded currency (as of 2016), peso trading contributes to just 0.1% of the foreign exchange market’s total daily turnover.

As an exotic currency, the peso is considered riskier than currencies from major developed nations, which means that its value will fall against the FX majors (especially JPY, USD, CHF, GBP and EUR) during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.

Since 2000, the peso’s lowest valuation against the US dollar came in April 2004 when USD/PHP reached 57.72. Its post-2000 high occurred in January 2000 when USD/PHP fell to just 39.28.

PHP Foreign Transfers PHP Travel Money Read our Travel Guide to Philippines

Philippine Peso - Recent Performance

By mid-October, the peso remained Asia’s worst performing currency of the year. It stood at historically weak levels.

Against the dollar, during the two-month period between mid-August and mid-October, the peso tested the major 51.60 level multiple times. A breach of August’s USD/PHP high of 51.66 would take the peso to its weakest level in eleven years. At the time of this report, USD/PHP had settled back in the 51.30s.

Within the same period against the euro, the peso was little changed at rates close to 61.5 but it was also close to multi-year lows (EUR/PHP highs).

2017’s peso weakness has been driven predominantly by a deterioration in the Philippines’ current account, which is showing a deficit for the first time in fifteen years. The deficit is forecast to be USD 600 million in 2017 but is expected to balloon to levels above USD 1.5 billion in 2018.

Forecasts for the peso remain gloomy; the most recent being September’s prediction by Alpari’s chief analyst, Thomasz Wisniewski, that the peso would weaken to 53.0 per dollar by the end of the year. During an interview with the ANC’s Market Edge program, Wisniewski described his forecast as a “sure bet.”


PHP/USD Chart and Calculators


Popular PHP Cross Rates
View Full List (A-Z)
1PHP=

Philippine Peso - Best Rate Calculators

Compare PHP Foreign Transfers Compare PHP Travel Money

Popular Currency Guides

Euro (EUR)

British Pound Sterling (GBP)

US Dollar (USD)

Australian Dollar (AUD)

Full List (A-Z)

BER logo Best Exchange Rates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers


Level 2, AMP Tower, 50 Bridge Street, Sydney, NSW 2000, Australia

Disclaimer | Copyright | Privacy Statement


DISCLAIMER

Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website. Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service



COPYRIGHT

This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.