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    Philippines - Philippine peso - Currency Guide

     

    Foreign exchange guide to Philippines and the Philippine peso (PHP)

         

    USD/PHP Trend (90-day)

    USD to PHP at 50.42 has risen 3.6% above its 90-day average, range 47.50-50.95.
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    The below interactive chart displays the USD/PHP trend and UP DOWN HIGH LOW alerts

     
    USD to PHP Currency Trend Chart

    General Currency Info - Philippine peso

    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 Forecasts and Trends

    USD/PHP – the Philippine Peso weakened against the broad-based, overall stronger US Dollar. Philippine Vice-President Leni Robredo made an urgent plea for vaccinations to speed up amidst a rise of the delta strain of coronavirus cases. PHP Forecasts

    US dollar to Philippine peso - Historical Rates

    USD/PHPChangePeriod
    19 Jul 2021
    50.9357
    1.1% 1 Week
    26 Jun 2021
    48.5452
    3.7% 30 Days
    27 Apr 2021
    48.4089
    4% 90 Days
    26 Jul 2020
    49.3499
    2% 1 Year
    27 Jul 2016
    47.1806
    6.7% 5 Years
    29 Jul 2011
    42.1726
    19.4% 10 Years

    USD/PHP rate change to 26-Jul-2021 → 50.3504

     

    $1,000 USD
    =
    ₱50,401 PHP

    Converted at USD/PHP interbank rate, compare Send Money and Currency Exchange exchange rates.

    USD to PHP - Quick Amounts

    Sell USD   →   Buy PHP
    USD PHP
    $ 1 50.40
    $ 5 252.00
    $ 10 504.00
    $ 20 1,008
    $ 50 2,520
    $ 100 5,040
    $ 250 12,600
    $ 500 25,200
    $ 1,000 50,400
    $ 2,000 100,800
    $ 5,000 252,000
    $ 10,000 504,000
    $ 20,000 1,008,000
    $ 50,000 2,520,000
    $ 100,000 5,040,000
    USD PHP
    $ 0.0198 ₱ 1
    $ 0.0992 ₱ 5
    $ 0.1984 ₱ 10
    $ 0.3968 ₱ 20
    $ 0.9921 ₱ 50
    $ 1.9841 ₱ 100
    $ 4.9603 ₱ 250
    $ 9.9205 ₱ 500
    $ 19.84 ₱ 1,000
    $ 39.68 ₱ 2,000
    $ 99.21 ₱ 5,000
    $ 198.41 ₱ 10,000
    $ 396.82 ₱ 20,000
    $ 992.05 ₱ 50,000
    $ 1,984 ₱ 100,000

    More amounts

     

    Frequently Asked Questions

     

    What currency should I use in Philippines?

    The domestic currency in Philippines is the Philippine peso.

    What is the Philippine peso currency code and symbol?

    The three letter currency code for the Philippine peso is PHP — symbol is .

    Which countries use the Philippine peso?

    It is the domestic currency in    Philippines.

    Is the Philippine peso a closed currency?

    No, the Philippine peso is freely available and convertible. See guide: What is a closed currency?

     

    Travel, Currency and Money saving tips for Philippines

    There is a lot more the Philippines than just Manilla so try to get out of the capital, do a little research beforehand about the few possible bad areas and you will be fine. There are ATMs available in most decent sized cities but more than a few travelers have been caught without access to ATMs when getting out of the majors cities, and a lot of popular destinations are nature spots so carrying some cash on you is a good idea. Also using a Prepaid Travel Card can be a good idea so you don't have to take your credit card everywhere on you. Only drink from bottles water and make sure it is properly sealed when you buy it.

    For getting around buses are the most commonly used means of transportation. Second to that are ferries. On arrival at the international airport the easiest, and most expensive, way to get a taxi is take the White prepaid Taxi. First line on the right of exit. A trip to Makati or Ermita will cost you 500-600 pesos. Normal cheaper taxis are available upstairs on the 4th floor, these should be white coloured also.

    For local trains in Manilla the three line LRT/ MRT elevated railways are a travel bargain and very cheap. While they don't go everywhere, an indirect trip via Taft and EDSA stations (connection is via an overhead footbridge then through Metropoint Mall) is a good way to avoid a taxi clogged in slow traffic.

     

    Travel money for Philippines

    Save money and time by Ordering your Philippine peso online from Travelex, you get better rates and can pick up the PHP cash locally or even on travel day at the airport.

    Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

    For card purchases if offered a choice of currencies always select to Pay in Philippine peso otherwise you may get much worst exchange rates.

     

    Send Money to Philippines - Best Rates

    To get a good (and fair) exchange rate when sending money to Philippines you need to find and compare exchange rates for International Money Transfers (IMTs).

    The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

    You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.


    Get a better deal for foreign transfers to Philippines

    When sending money to Philippines it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Philippine peso amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted PHP amount will be transfered to the recipient account you specify in Philippines.

    Use the above Send to Philippine peso calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Philippine peso deposited into the recipient bank account and less margins and fees kept by the banks!


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