Hong Kong Dollar to Philippine Peso - Convert Compare Save
The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
Compare HKD/PHP Exchange Rates
The below table is a snapshot of the costs charged by FX specialists and banks for HKD/PHP International Money Transfers. Costs are calculated against the amount when HKD is converted to PHP at mid-rate.
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327,010 PHP
6.5402
0
0.7%
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318,650 PHP
6.373
0 for BER users (normally $60)
3.24%
Bank Transfers - Online & Phone, Foreign Currency Accounts
Right now the HKD/PHP interbank exchange rate is 6.6381.
It’s also called the mid-market rate or just the mid-rate and is the rate that banks use when trading large amounts of foreign currencies with one another.
It's the reference rate we use to calculate how much you are being charged to convert Philippine Peso to Hong Kong Dollar.
This HKD/PHP Converter calculates equivalent Hong Kong Dollar to Philippine Peso amounts at the market mid-rate.
You can also enter your own rates to find out the percentage difference to the latest market rates you are being charged.
Hong Kong Dollar to Philippine Peso (HKD-PHP) - 10 Year History
The below table shows the historic variation in the HKD/PHP exchange rate over the last 10 years.
The percentage change is the difference from the date shown to present. This lets you decide if the current rate is in your favour.
You can also view our various charts of HKD versus other currencies : HKD historical charts.
Date
Exchange Rate
Period
14 Apr 2019
6.5890
1 Week
22 Mar 2019
6.7085
1 Month
23 Oct 2018
6.8618
6 Months
21 Apr 2018
6.6487
1 Year
21 Apr 2017
6.4106
2 Years
22 Apr 2014
5.7393
5 Years
23 Apr 2009
6.2581
10 Years
Why can't I just get the HKD/PHP market rate I see on Google or in the Media?
The HKD/PHP mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the HKD / PHP was traded (bought or sold) in the international markets.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
The closer your final exchange rate is to the market HKD/PHP midrate the better deal you are getting.
The three things you need in order to get a good HKD to PHP exchange rate
Know the latest HKD/PHP market mid-rate.
The closer your final exchange rate is to this real market rate the better deal you are getting.
You should also judge how the current rate compares to the historic rate over the past 10 years.
Compare your Bank's transaction costs
to several
licensed FX providers, remember to compare the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Foreign Transfers
and
Travel Money
transactions.
Currency news and forecasts for Hong Kong Dollar and Philippine Peso
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the HKD vs PHP, you should pay attention to both Hong Kong Dollar and Philippine Peso news and forecasts.
Hong Kong Dollar (HKD) - Market news and forecasts
On balance, the Hong Kong dollar strengthened steadily in the February-April period. By recent standards, it was particularly strong against the euro at rates near HK$8.825. It was near the weaker boundary of its US dollar trading range, at HK$7.844. Against a basket of currencies, the US dollar was up 1.5 percent on the year by April-22, implying the same year-to-date gain for HKD.
HKD’s strength comes in spite of this year’s dovish turn by the US Federal Reserve, whose actions Hong Kong’s central bank must follow. The Fed has ditched two interest rate hikes from its 2019 projections, but fortunately for holders of HKD, the rest of the world has problems too and other important central banks have also turned dovish, removing much of the incentive for selling HKD.
Based on USD research, a Bloomberg analyst warned in April of potential for a large upcoming move in HKD, up or down. Over the past quarter-century, three deep troughs in a prominent volatility index were followed by USD moves over 6-month periods worth 10-15 percent. The index in question fell in the second half of April to a 5-year low.
Philippine Peso (PHP) - Market news and forecasts
The peso suffered one of its sharpest falls in recent years on March-12 when it weakened by 93 centavos against the dollar (an amount nearly four times the peso’s average daily range) to 53.05. This ended a good run for the peso, which appreciated away from record lows (54.43) in four of the five months between October and February.
The mid-march weakness was driven by significant developments in Philippine monetary policy. The country’s central bank governor suggested there could be significant policy easing this year in the form of policy rate cuts and cuts to the amount of cash that banks must hold in reserve.
The developments appeared to vindicate those analysts polled by Bloomberg in January, who collectively predicted that the peso would struggle in 2019.
An ING analyst said in March that the central bank would be comfortable with the peso between 52 and 55 per dollar, beyond which there may be market intervention. ING is forecasting the peso at 54.04 at year-end.
Philippines