Philippines - Philippine Peso - Currency Guide

This is a currency guide to Philippines, the Philippine Peso currency plus sending (PHP) transfers and travel tips for Philippines.

 
 
CountryPhilippines
FlagPhilippines
Country CodePH
Domestic Currency Philippine Peso
Currency Symbol
Currency CodePHP
Exchange RateUSD/PHP = 50.89
Telephone Prefix+63

Quick Conversions from US Dollar to Philippine Peso

USD

PHP

U$ 1
₱ 50.89
U$ 5
₱ 254.45
U$ 10
₱ 508.90
U$ 20
₱ 1,018
U$ 50
₱ 2,545
U$ 100
₱ 5,089
U$ 250
₱ 12,723
U$ 500
₱ 25,445
U$ 1,000
₱ 50,890
U$ 2,000
₱ 101,780
U$ 5,000
₱ 254,450
U$ 10,000
₱ 508,900
U$ 50,000
₱ 2,544,500
U$ 100,000
₱ 5,089,000
More amounts

USD

PHP

U$ 0.0197
₱ 1
U$ 0.0983
₱ 5
U$ 0.1965
₱ 10
U$ 0.3930
₱ 20
U$ 0.9825
₱ 50
U$ 1.9650
₱ 100
U$ 4.9125
₱ 250
U$ 9.8250
₱ 500
U$ 19.65
₱ 1,000
U$ 39.30
₱ 2,000
U$ 98.25
₱ 5,000
U$ 196.50
₱ 10,000
U$ 982.50
₱ 50,000
U$ 1,965
₱ 100,000
More amounts

To calculate specific USD/PHP amounts use our Convert USD to PHP quick calculator. To read more about the latest exchange rate trends and to compare FX provider rates view USD to PHP Rate Guide.

Philippines Currency Info

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.


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 .

How much is U$100 US Dollars in Philippine Peso?

U$ 100 converts to ₱ 5,089

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?


Philippine Peso (PHP) in the markets

It’s been a solid start to 2019 for the Philippine peso, which is up slightly (between 0.6 and 2 percent) against the US dollar, Australian dollar and euro. The peso has rebounded from 13-year lows struck in the fourth quarter of last year courtesy of economic reforms, proposed fiscal spending and an S&P credit rating upgrade.

The peso slipped in the week leading up to May’s Bangko Sentral ng Pilipinas meeting, with traders correctly forecasting an interest rate cut (the first since 2016). The BSP is able to lower rates because inflation has halved over the past 6 months and is back at targeted levels.

The peso steadied post-BSP at levels near 52.2 per USD but might be pressured in the months ahead from further policy easing, which hasn’t been ruled out.

Per an ING analyst, the BSP will be comfortable with peso exchange rates between 52 and 55 per USD, but beyond these levels they might intervene in markets. ING is forecasting USD/PHP at 54 at year-end.

The interactive chart below shows the USD to PHP exchange rate and trend for the previous 3 months:

USD/PHP at 50.87 was trading near the 90-day average 50.78 with a range 50.46 to 51.13. There are no current rate alerts.
21-Feb 5PM-NY 10PM-LON | 22-Feb 9AM-SYD

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.

 
Travel Money Providers Amount PHP(₱)Exchange RateFee USDTotal CostDeal Links
Travelex Online US logo
44,059
Best Overall
44.05940^13.42%
U.S. Bank Foreign Currency
U.S. Bank logo
42,740
₱1,319 less
42.74016.01%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
42,313
₱1,746 less
42.74U$1016.85%
Wells Fargo Bank logo
41,885
₱2,174 less
42.74U$2017.7%
 
Travelex Online US logo
Travelex Online US: Travel Money USD→PHP
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:44.0594 (13.42% from mid-rate)
To Amount (PHP)44,059
Total Cost:13.42%
Time:
Rate Fetched: Sun Feb 23 2020 06:00:05 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
U.S. Bank logo
U.S. Bank: Travel Money USD→PHP
From Amount (USD)U$1,000
Fee:0
Exchange Rate:42.74 (16.02% from mid-rate)
To Amount (PHP)42,740
Total Cost:16.01%
Time:6:05 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Travel Money USD→PHP
From Amount (USD)U$1,000
Fee:U$10 USD (1%)
Exchange Rate:44.53 (12.5% from mid-rate)
To Amount (PHP)42,313
Total Cost:16.85%
Currency Services:Branch
Delivery/Collect:-
 
Wells Fargo Bank logo
Wells Fargo Bank: Travel Money USD→PHP
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:42.74 (16.02% from mid-rate)
To Amount (PHP)41,885
Total Cost:17.7%
Time:6:05 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Snapshot 02/23/2020 - View latest rates

Philippines Trip Checklist    

 
  1. Compare PHP travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Philippines
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Philippines

When searching around for information on how to get a good exchange rate when sending money to Philippines you need to start with finding out the latest Philippine Peso foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).


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 our 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!

  

USD to PHP International Money Transfers

  

Foreign Transfer Providers Receive PHP(₱)Exchange RateFee USDTotal CostDeal Links
OFX logo
490,000
Best Overall
490^3.71%
XE logo
502,500
₱12,500 more
50.2501.26%
TransferWise logo
505,807
₱15,807 more
50.84U$510.61%
Wells Fargo Bank logo
479,336
₱10,664 less
48.02185.81%
HSBC logo
478,980
₱11,020 less
47.97U$155.88%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
476,041
₱13,959 less
47.88156.46%
Bank of America International Money Transfers
Bank of America logo
472,923
₱17,077 less
47.77U$1007.07%
U.S. Bank International Money Transfers
U.S. Bank logo
472,923
₱17,077 less
47.77U$1007.07%
 
OFX logo
OFX: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:49 (3.71% from mid-rate)
To Amount (PHP)490,000
Total Cost:3.71%
Time:
Rate Fetched: Sun Feb 23 2020 06:04:01 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
XE logo
XE: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:
Exchange Rate:50.25 (1.26% from mid-rate)
To Amount (PHP)502,500
Total Cost:1.26%
Difference:
₱12,500 PHP more than using OFX
Time:6:05 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
TransferWise logo
TransferWise: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:U$51 USD (0.5% + U$1)
Exchange Rate:50.84 (0.1% from mid-rate)
To Amount (PHP)505,807
Total Cost:0.61%
Difference:
₱15,807 PHP more than using OFX
Time:6:05 Local
Transfer Speed:0-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts + Multi-currency debit card
Rating:
 
: 4.6/5.0
Reviews:
 
Wells Fargo Bank logo
Wells Fargo Bank: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:18
Exchange Rate:48.02 (5.64% from mid-rate)
To Amount (PHP)479,336
Total Cost:5.81%
Difference:
₱10,664 PHP less than using OFX
Time:6:05 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
HSBC logo
HSBC: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:U$15 USD (.15%)
Exchange Rate:47.97 (5.74% from mid-rate)
To Amount (PHP)478,980
Total Cost:5.88%
Difference:
₱11,020 PHP less than using OFX
Time:6:05 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:15
Exchange Rate:47.68 (6.31% from mid-rate)
To Amount (PHP)476,041
Total Cost:6.46%
Difference:
₱13,959 PHP less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
Bank of America logo
Bank of America: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:47.77 (6.13% from mid-rate)
To Amount (PHP)472,923
Total Cost:7.07%
Difference:
₱17,077 PHP less than using OFX
Time:6:05 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
U.S. Bank logo
U.S. Bank: Foreign Transfer USD→PHP
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:47.77 (6.13% from mid-rate)
To Amount (PHP)472,923
Total Cost:7.07%
Difference:
₱17,077 PHP less than using OFX
Time:6:05 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 02/23/2020 - View latest rates

Philippine Peso to US Dollar - Historical Rates

PeriodPHP/USDDate
1 Day0.019817 Feb 2020
7 Day0.019811 Feb 2020
30 Day0.019619 Jan 2020
3 Month0.019620 Nov 2019
1 Year0.019118 Feb 2019
5 Year0.022619 Feb 2015
10 Year0.021620 Feb 2010

Philippine Peso to Euro - Historical Rates

PeriodPHP/EURDate
1 Day0.018217 Feb 2020
7 Day0.018111 Feb 2020
30 Day0.017719 Jan 2020
3 Month0.017720 Nov 2019
1 Year0.016918 Feb 2019
5 Year0.019919 Feb 2015
10 Year0.016020 Feb 2010

Philippine Peso to Pound Sterling - 10 Year History

PeriodPHP/GBPDate
1 Day0.015217 Feb 2020
7 Day0.015311 Feb 2020
30 Day0.015119 Jan 2020
3 Month0.015220 Nov 2019
1 Year0.014818 Feb 2019
5 Year0.014719 Feb 2015
10 Year0.014020 Feb 2010

Philippine Peso to Australian Dollar - Historical Rates

PeriodPHP/AUDDate
1 Day0.029517 Feb 2020
7 Day0.029411 Feb 2020
30 Day0.028619 Jan 2020
3 Month0.028920 Nov 2019
1 Year0.026818 Feb 2019
5 Year0.029019 Feb 2015
10 Year0.024220 Feb 2010

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