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Compare HKD to PHP foreign transfers

Use our comparison table to find the best exchange rates for Philippine Peso foreign transfers versus the Banks.

When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.

 
 

Compare Best Exchange Rates for:

   
$HKD
₱PHP

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Foreign Transfer Providers
Ratings & Reviews
Receive PHP(₱)Exchange RateFee HKDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
WorldFirst logo
331,285 PHP6.625700.7%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
OFX logo
320,070 PHP6.40140 for BER users (normally $60)4.06%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
DBS Bank logo
316,708 PHP6.3405505.07%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
313,307 PHP6.2721556.09%Online, Branch, Bank Transfers2-3 days
HSBC logo
312,354 PHP6.2571$806.37%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
310,860 PHP6.2187126.82%Online, Branch, Bank Transfers2-3 days
WorldFirst: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:
Exchange Rate:6.6257 (0.7% from mid-rate)
PHP amount:331,285 PHP
Total Cost:0.7%
Time:1:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 
OFX: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:0 for BER users (normally $60)
Exchange Rate:6.4014 (4.06% from mid-rate)
PHP amount:320,070 PHP
Total Cost:4.06%
Difference:
11,215 PHP less than using WorldFirst
Time:
Rate Fetched: Thu Apr 25 2019 00:17:37 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

DBS Bank logoDBS Bank

DBS Bank: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:50
Exchange Rate:6.3405 (4.97% from mid-rate)
PHP amount:316,708 PHP
Total Cost:5.07%
Difference:
14,577 PHP less than using WorldFirst
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:55
Exchange Rate:6.2892 (5.74% from mid-rate)
PHP amount:313,307 PHP
Total Cost:6.09%
Difference:
17,978 PHP less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:$80 HKD (Minimum fee)
Exchange Rate:6.2571 (6.22% from mid-rate)
PHP amount:312,354 PHP
Total Cost:6.37%
Difference:
18,931 PHP less than using WorldFirst
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:12
Exchange Rate:6.2187 (6.8% from mid-rate)
PHP amount:310,860 PHP
Total Cost:6.82%
Difference:
20,425 PHP less than using WorldFirst
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the HKD-PHP mid-market exchange rate over the last week. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market HKD-PHP exchange rate.

Currency news and forecasts for Hong Kong Dollar and Philippine Peso

Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison 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.