The live mid-rate USD to PHP exchange rate is 58.33. Compare currency conversion rates - Reduce FX costs.
The best USD to PHP exchange rate is our partner deal rate of 58.04 from OFX . This is -0.5% compared to the mid-market rate 58.33.
The standard OFX USD-PHP rate is 56.1389, -3.8% from the mid-rate. Visit OFX here to secure the better rate.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Philippine peso (PHP) rates from different sources before making a conversion.
Looking at our comparison table the best USD to PHP exchange rate is 58.04 from OFX, -0.5% from the mid-market rate 58.33. The next best rate is 57.98 from XE, -0.6% from the mid-rate. Wise with 57.95 is -0.65% from the mid-rate.
The Western Union rate is 57.75 which is -0.99% from the mid-rate.
Among the banks, the Citibank rate is 55.26 at -5.3%, the Chase Bank rate is 52.93 at -9.3%, and the Wells Fargo Bank rate is 52.58 at -9.9% from the mid-rate.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
The Dollar to Peso comparison table above makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest USD-PHP mid-rate (see Market Data below ) and the possible savings of using various providers.
US dollar (USD) to Philippine peso (PHP) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | USD/PHP | Change | Period |
|---|---|---|---|
28 Nov 2024 | 58.73 | 0.8% ▼ | 2 Week |
13 Sep 2024 | 55.94 | 4.2% ▲ | 3 Month |
13 Dec 2023 | 55.86 | 4.3% ▲ | 1 Year |
14 Dec 2019 | 50.61 | 15.1% ▲ | 5 Year |
15 Dec 2014 | 44.67 | 30.4% ▲ | 10 Year |
17 Dec 2004 | 56.26 | 3.6% ▲ | 20 Year |
Here are some popular conversion amounts for USD to PHP (US dollar to Philippine peso)*.
*Converted at the current USDPHP interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
In light of recent developments surrounding the USD to PHP exchange rate, currency analysts suggest that the US dollar is poised for further strength as political and economic factors intertwine. Following Donald Trump's re-election as President of the United States, there has been an uptick in the dollar's value, particularly against major currencies, bolstered by expectations of increased inflation driven by his administration's proposed tax cuts and tariffs. The USD has seen a significant rally, reaching 7-day highs near 58.48 PHP, approximately 1.4% above its three-month average of 57.65 PHP. This surge is indicative of a stronger greenback amidst a backdrop of heightened market volatility and global uncertainty, particularly stemming from ongoing geopolitical tensions, such as the war in Ukraine, which has pressurized currencies like the Philippine peso.
Read our full review of recent USD to PHP forecasts.
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.
Read our Currency guide to Philippines - a practical currency and money guide to travel, living and doing business in Philippines with the Philippine peso.
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 Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
| 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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