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Compare HKD to PHP foreign transfers

Save with best rates & low fees on Philippine Peso foreign transfers versus the Banks

 

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$HKD
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Compare HKD to PHP Foreign Transfers vs the Banks

ProvidersAmount PHP(₱)Exchange RateFee HKDTotal CostTransfer ServicesTransfer SpeedReviewsDeal Links
WorldFirst logo
338,235 PHP6.764700.4%Bank Transfers - Online & Phone1-2 days
 
OFX logo
325,870 PHP6.51740 for BER users (normally $60)4.04%Bank Transfers - Online & Phone1-2 days
 
DBS Bank logo
322,447 PHP6.4554505.05%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
318,985.33 PHP6.3858556.07%Online, Branch, Bank Transfers2-3 days
HSBC logo
318,015 PHP6.3705$806.35%Online, Branch, Bank Transfers2-3 days
Citibank
Citibank logo
316,494 PHP6.3314126.8%Online, Branch, Bank Transfers2-3 days
WorldFirst: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:
Exchange Rate:6.7647 (0.4% from mid-rate)
PHP amount:338,235 PHP
Total Cost:0.4%
Time:1:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
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:6.5174 (4.04% from mid-rate)
PHP amount:325,870 PHP
Total Cost:4.04%
Difference:
₱12,365 less than using WorldFirst
Time:
Rate Fetched: Sun Dec 16 2018 00:17:46 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
DBS Bank: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:50
Exchange Rate:6.4554 (4.95% from mid-rate)
PHP amount:322,447 PHP
Total Cost:5.05%
Difference:
₱15,788 less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo

Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:55
Exchange Rate:6.4032 (5.72% from mid-rate)
PHP amount:318,985.33 PHP
Total Cost:6.07%
Difference:
₱19,250 less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
HSBC: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:$80 HKD (Minimum fee)
Exchange Rate:6.3705 (6.2% from mid-rate)
PHP amount:318,015 PHP
Total Cost:6.35%
Difference:
₱20,220 less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Citibank: Foreign Transfer HKD→PHP
HKD amount:$50,000 HKD
Fee:12
Exchange Rate:6.3314 (6.78% from mid-rate)
PHP amount:316,494 PHP
Total Cost:6.8%
Difference:
₱21,741 less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/16/2018.
Total Cost = Fee + exchange rate margin vs HKD/PHP mid-rate: 6.7919

This calculator compares exchange rates for HKD to PHP international money transfers. You can also use our quick and easy HKD to PHP currency converter instead.

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

2018 has been a good year for the Hong Kong dollar, as it has been for the US dollar, to which it is pegged.

Entering the third week of November 2018, HKD’s year-to-date gains over six of the seven non-USD majors averaged 5.4 percent. HKD was unchanged against the yen.

At different times in 2018, HKD has benefitted from Brexit uncertainty in Europe, from inactivity on monetary policy in Oceania, and a recent collapse in the oil market, which saw its value rise against petro-currencies.

Seasonality becomes an important supporting factor for HKD approaching year-end, and especially in November. Since 2010, HKD has averaged trade-weighted gains of 1.8 percent in November and 0.2 percent in December.

By way of its USD forecasts, Citibank said in September that HKD would gain 3-4 percent over a 6-12-month period; however, gains would be followed by an 11 percent loss in the long term.

Like Citi, ING remain long-term bearish on USD and HKD. ING isn't ruling out interventions from Washington aimed at weakening the greenback. President Trump clearly would like a far weaker currency.

J.P. Morgan said in November that USD and HKD would be worth slightly more in the first half of 2019, before weakening slightly in the second half of the year.

Philippine Peso (PHP) - Market news and forecasts

Since 2013, the Philippine peso has been among the world’s worst performing currencies. The second quarter of 2018 saw the peso fall to its lowest levels since 2005 at rates per US dollar in the mid-₱54s. With October and early November’s recovery (see below) to 53 per dollar, the peso reduced its year-to-date loss to only 5.7 percent versus the greenback. Against the euro, the peso was little changed (₱60.22) on the year, and it was marginally higher against the Australian dollar (₱38.33).

The principal reasons for peso weakness remain the Philippines’ trade deficit, which in 2017 was the largest ever recorded at $29.8 billion, and inflation, which reached 6.7 percent in the year to September.

On November 8th (the day of this report), the peso achieved its highest level against the dollar in 5 months and its highest level against the euro in 10 months. Short-term peso strength has been the result of a “perception that inflation has peaked,” said a Union Bank of the Philippines economist.

For 2019, the peso’s downtrend will likely resume, per the remarks of DBS’ chief economist, who believes that “a very similar dynamic” of peso weakness will play out.