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USD/PHP - Convert Compare Save

United States Dollar to Philippine Peso exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the United States Dollar to Philippine Peso exchange rate, has news, forecasts and USD to PHP comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

USD/PHP Exchange Rates - How to Compare & Save

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for USD/PHP International Money Transfers. Costs are calculated against the current interbank mid-rate.

 

USD to PHP International Money Transfers

  

Foreign Transfer ProvidersReceive PHP(₱)Exchange RateFee USDTotal CostDeal Links
OFX logo
505,600 PHP
Best Overall
50.560^3.07%
Wells Fargo Bank logo
495,107 PHP
10,493 PHP
49.6185.08%
HSBC logo
494,757 PHP
10,843 PHP
49.55$155.15%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
491,749 PHP
13,851 PHP
49.46155.72%
Bank of America International Money Transfers
Bank of America logo
488,565 PHP
17,035 PHP
49.35$1006.33%
U.S. Bank International Money Transfers
U.S. Bank logo
488,565 PHP
17,035 PHP
49.35$1006.33%
 
OFX: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:50.56 (3.07% from mid-rate)
PHP amount:505,600 PHP
Total Cost:3.07%
Time:
Rate Fetched: Mon Jun 17 2019 06:03:58 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:18
Exchange Rate:49.6 (4.91% from mid-rate)
PHP amount:495,107 PHP
Total Cost:5.08%
Difference:
10,493 PHP less than using OFX
Time:6:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:49.55 (5% from mid-rate)
PHP amount:494,757 PHP
Total Cost:5.15%
Difference:
10,843 PHP less than using OFX
Time:6:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:15
Exchange Rate:49.25 (5.58% from mid-rate)
PHP amount:491,749 PHP
Total Cost:5.72%
Difference:
13,851 PHP less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:49.35 (5.39% from mid-rate)
PHP amount:488,565 PHP
Total Cost:6.33%
Difference:
17,035 PHP less than using OFX
Time:6:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:49.35 (5.39% from mid-rate)
PHP amount:488,565 PHP
Total Cost:6.33%
Difference:
17,035 PHP less than using OFX
Time:6:16 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 06/17/2019 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount PHP(₱)Exchange RateFee USDTotal CostDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
48,830 PHP
Compare
48.8306.39%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
48,342 PHP
488 PHP
48.83$107.33%
Wells Fargo Bank logo
47,853 PHP
977 PHP
48.83$208.27%
Travelex Online US logo
45,082 PHP
3,748 PHP
45.08220^13.58%
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→PHP
USD amount:$1,000 USD
Fee:0
Exchange Rate:48.83 (6.39% from mid-rate)
PHP amount:48,830 PHP
Total Cost:6.39%
Time:6:16 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→PHP
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:45.64 (12.51% from mid-rate)
PHP amount:48,342 PHP
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→PHP
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:48.83 (6.39% from mid-rate)
PHP amount:47,853 PHP
Total Cost:8.27%
Time:6:16 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→PHP
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:45.0822 (13.58% from mid-rate)
PHP amount:45,082 PHP
Total Cost:13.58%
Time:
Rate Fetched: Mon Jun 17 2019 06:15:03 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Snapshot 06/17/2019 - See full table

USD to PHP interbank exchange rate = 52.2725

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on USD/PHP exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

USD and PHP in the Markets

When determining the best time to make a foreign exchange transaction, in this case the USD vs PHP, you should pay attention to the recent market trends for both currencies.

 

United States Dollar (USD)

The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).

As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.

Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

Read more in the article USD Forecasts.

 

Philippine Peso (PHP)

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.

Why can't I just get the USD/PHP market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the USD / PHP was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

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.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all USD Exchange Rates