The best USD to PHP rate is 55.35, and is the current mid-market exchange rate. We help you compare US dollar to Philippine peso rates and costs to this live market rate.
In this Dollar to peso (USD/PHP) rate guide:
USD to PHP 
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Philippine peso (PHP) rates from different sources before making a conversion.
The below Rate Comparison Table makes it easy to compare the Total Cost you are being charged on Dollar to peso currency rates and the possible savings of using various providers.
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US dollar (USD) to Philippine peso (PHP) market data - latest interbank mid-rate, trend, chart & historic rates.
| Date | USD/PHP | Change | Period |
|---|---|---|---|
14 Nov 2023 | 55.54 | 0.1% ▼ | 2 Week |
30 Aug 2023 | 56.78 | 2.3% ▼ | 3 Month |
28 Nov 2022 | 56.64 | 2.1% ▼ | 1 Year |
29 Nov 2018 | 52.39 | 5.9% ▲ | 5 Year |
30 Nov 2013 | 43.71 | 26.9% ▲ | 10 Year |
03 Dec 2003 | 55.44 | 0.1% ▲ | 20 Year |
Based on recent currency market updates and analyst forecasts, the US dollar has demonstrated considerable strength against a backdrop of a robust U.S. economy and high Treasury yields. FX analysts, following a Reuters poll, indicate that this fortitude is anticipated to challenge most major currencies through the end of the year, including the Philippine peso (PHP). The resilience of the dollar, partly due to global growth concerns and the situation in China dampening risk appetite, is seen as a continuing trend. However, there is an expectation of a modest weakening next year, particularly as the Federal Reserve nears its anticipated first interest rate cut—signaling a potential shift that could impact the USD's position against its peers.
Read our full USD to PHP forecasts analysis
There are several ways to save on exchange rates when converting US dollar to Philippine peso:
Generally speaking, if you are buying Philippine peso with US dollar, then it's better for the USD/PHP exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
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.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/PHP to your personalised BER Smart Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.
Read our Currency guide to Philippines - a practical currency and money guide to travel, living and doing business in Philippines with the Philippine peso.
| United States (USD) | Philippines (PHP) |
The cost of living in Philippines is relatively low compared to other countries. Rent, food, and transportation are all relatively inexpensive.
The expat life in Philippines can be quite comfortable. There is a wide variety of housing options available, from apartments to villas. Many expats live in gated communities with security guards. The cost of living is relatively low, and there are a number of good schools to choose from. English is widely spoken, which makes communication easy.
Read more at our Philippines (PHP) country guide
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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