United States 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 USD/PHP Exchange Rates
The below table is a snapshot of the costs charged by FX specialists and banks for USD/PHP International Money Transfers. Costs are calculated against the amount when USD is converted to PHP at mid-rate.
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501,000 PHP
13,065 PHP
50.1
0^
3.14%
Bank Transfers - Online & Phone, Foreign Currency Accounts
The below table shows a snapshot 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.
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Right now the USD/PHP interbank exchange rate is 51.713.
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 United States Dollar.
This USD/PHP Converter calculates equivalent United States 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.
United States Dollar to Philippine Peso (USD-PHP) - 10 Year History
The below table shows the historic variation in the USD/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 USD versus other currencies : USD historical charts.
Date
Exchange Rate
Period
Change
18 Apr 2019
51.6850
Latest
11 Apr 2019
51.9899
1 Week
-0.59%
19 Mar 2019
52.8220
1 Month
-2.15%
20 Oct 2018
53.6438
6 Months
-3.65%
18 Apr 2018
52.0156
1 Year
-0.64%
18 Apr 2017
49.6894
2 Years
+4.02%
19 Apr 2014
44.3775
5 Years
+16.47%
20 Apr 2009
48.0888
10 Years
+7.48%
Why can't I just get the USD/PHP market rate I see on Google or in the Media?
The USD/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 USD / 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 USD/PHP midrate the better deal you are getting.
The three things you need in order to get a good USD to PHP exchange rate
Know the latest USD/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 United States 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 USD vs PHP, you should pay attention to both United States Dollar and Philippine Peso news and forecasts.
United States Dollar (USD) - Market news and forecasts
In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.
The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.
Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at 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