One U.S. dollar was equal to 51.38 Philippine pesos as of Jan. 9, 2022. Its range over the previous five years was $47.63 to $53.89.
Note that these numbers were the posted rates on the foreign exchange (FOREX) markets at that time. A consumer exchanging U.S. dollars for Philippine pesos at a bank or foreign currency exchange will pay a fee of 3% to 5%, which will be reflected in its exchange rate."}},{"@type": "Question","name": "How Can I Find the Exchange Rate of U.S. Dollars to Philippine Pesos?","acceptedAnswer": {"@type": "Answer","text": "The latest USD/PHP exchange rate can be looked up online at many sites such as xrates.com or oanda.com. You can also just google USD/PHP to get the current rate.
"}},{"@type": "Question","name": "Where Can You Buy Philippine Pesos?","acceptedAnswer": {"@type": "Answer","text": "If you're exchanging U.S. dollars for Philippine pesos in the U.S., you will probably find the best rate available at a bank or credit union. Cash can also be exchanged at money exchange businesses, online or in person.
If you have an American bank account or credit card, you can withdraw cash in Philippine pesos in the Philippines at any ATM that accepts the card. Watch out for exchange fees, which can reduce the real rate you're getting.
If you want to transfer U.S. dollars to a person or business in the Philippines, to be paid in Philippine pesos, you can compare the exchange rates available for that service at sites such as FXcompared.com. The rate displayed will reflect the fees charged by the vendor.
"}},{"@type": "Question","name": "What Causes the Philippine Peso to Get Stronger?","acceptedAnswer": {"@type": "Answer","text": "Like any currency, the Philippine peso is vulnerable to the ups and downs of the nation that issues it. But the reaction of currency values is not always easy to predict.
For example, in 2020, the government of the Philippines enacted one of the world's strictest lockdowns to prevent the spread of COVID-19. An economic slowdown resulted. Demand for imports collapsed.
But imports fell more than exports, and the result was a surplus in the Philippine currency account. As a result, the Philippine peso rose 4% against the U.S. dollar, the best performance of any Asian currency."}},{"@type": "Question","name": "What Causes the Philippine Peso to Get Weaker?","acceptedAnswer": {"@type": "Answer","text": "Uncertainty about economic and political conditions can damage any nation's currency. The coronavirus pandemic created the ultimate uncertainty.
The value of the Philippine peso declined by about 4.2% against the U.S. dollar in 2021.
The peso is expected to decline further against the U.S. dollar during 2022, due to "continued uncertainty about the country's handling of COVID-19, the central bank's loose monetary policy stance, and weakening fundamentals," according to an analysis by Fitch Solutions.The Fitch group projected that the peso would fluctuate between P49/USD and P52/USD during 2022."}}]}]}] Investing Stocks Bonds ETFs Options and Derivatives Commodities Trading FinTech and Automated Investing Brokers Fundamental Analysis Technical Analysis Markets View All Simulator Login / Portfolio Trade Research My Games Leaderboard Banking Savings Accounts Certificates of Deposit (CDs) Money Market Accounts Checking Accounts View All Personal Finance Budgeting and Saving Personal Loans Insurance Mortgages Credit and Debt Student Loans Taxes Credit Cards Financial Literacy Retirement View All News Markets Companies Earnings CD Rates Mortgage Rates Economy Government Crypto ETFs Personal Finance View All Reviews Best Online Brokers Best Savings Rates Best CD Rates Best Life Insurance Best Personal Loans Best Mortgage Rates Best Money Market Accounts Best Auto Loan Rates Best Credit Repair Companies Best Credit Cards View All Academy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All LiveSearchSearchPlease fill out this field.SearchSearchPlease fill out this field.InvestingInvesting Stocks Bonds ETFs Options and Derivatives Commodities Trading FinTech and Automated Investing Brokers Fundamental Analysis Technical Analysis Markets View All SimulatorSimulator Login / Portfolio Trade Research My Games Leaderboard BankingBanking Savings Accounts Certificates of Deposit (CDs) Money Market Accounts Checking Accounts View All Personal FinancePersonal Finance Budgeting and Saving Personal Loans Insurance Mortgages Credit and Debt Student Loans Taxes Credit Cards Financial Literacy Retirement View All NewsNews Markets Companies Earnings CD Rates Mortgage Rates Economy Government Crypto ETFs Personal Finance View All ReviewsReviews Best Online Brokers Best Savings Rates Best CD Rates Best Life Insurance Best Personal Loans Best Mortgage Rates Best Money Market Accounts Best Auto Loan Rates Best Credit Repair Companies Best Credit Cards View All AcademyAcademy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All EconomyEconomy Government and Policy Monetary Policy Fiscal Policy Economics View All Financial Terms Newsletter About Us Follow Us Guide to Forex TradingStrategy & EducationPhilippine Peso (PHP): Definition, History, Exchange Rate RangeByCory Mitchell Full Bio Cory Mitchell, CMT is the founder of TradeThatSwing.com. He has been a professional day and swing trader since 2005. Cory is an expert on stock, forex and futures price action trading strategies.Learn about our editorial policiesUpdated July 11, 2022Reviewed byAkhilesh GantiTrending Videos What Is the Philippine Peso (PHP)? The Philippine peso, abbreviated as PHP in foreign exchange (forex) markets, is the national currency of the Republic of the Philippines. The peso is known as the "piso" in the Filipino and Tagalog languages.
Note that these numbers were the posted rates on the foreign exchange (FOREX) markets at that time. A consumer exchanging U.S. dollars for Philippine pesos at a bank or foreign currency exchange will pay a fee of 3% to 5%, which will be reflected in its exchange rate.
Philippine Peso To Usd
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If you're exchanging U.S. dollars for Philippine pesos in the U.S., you will probably find the best rate available at a bank or credit union. Cash can also be exchanged at money exchange businesses, online or in person.
If you have an American bank account or credit card, you can withdraw cash in Philippine pesos in the Philippines at any ATM that accepts the card. Watch out for exchange fees, which can reduce the real rate you're getting.
If you want to transfer U.S. dollars to a person or business in the Philippines, to be paid in Philippine pesos, you can compare the exchange rates available for that service at sites such as FXcompared.com. The rate displayed will reflect the fees charged by the vendor.
But imports fell more than exports, and the result was a surplus in the Philippine currency account. As a result, the Philippine peso rose 4% against the U.S. dollar, the best performance of any Asian currency.
The peso is expected to decline further against the U.S. dollar during 2022, due to "continued uncertainty about the country's handling of COVID-19, the central bank's loose monetary policy stance, and weakening fundamentals," according to an analysis by Fitch Solutions.
The Philippine peso is derived from the Spanish peso or pieces of eight brought over in large quantities from Spanish America by the Manila galleons of the period from the 16th century to the 19th. From the same Spanish peso or dollar is derived the various pesos of Spanish America, the dollars of the US and Hong Kong, as well as the Chinese yuan and the Japanese yen.[5][6][7]
The Spanish dollar or silver peso worth eight reales was first introduced by the Magellan expedition of 1521 and brought in large quantities after the 1565 conquest of the Philippines by Miguel Lpez de Legazpi. The local salapi continued under Spanish rule as a toston or half-peso coin. Additionally, Spanish gold onzas or eight-escudo coins were also introduced with identical weight to the Spanish dollar but valued at 16 silver pesos.[6]
Fractional currency was supplied by cutting the Spanish dollar coin, most commonly into eight wedges each worth one Spanish real. Locally produced crude copper or bronze coins called cuartos or barrillas (hence the Tagalog/Filipino words cuarta or kwarta, "money" and barya "coin" or "loose change") were also struck in the Philippines by order of the Spanish government, with 20 cuartos being equal to one real (hence, 160 cuartos to a peso).[6] The absence of officially minted cuartos in the 19th century was alleviated in part by counterfeit two-cuarto coins made by Igorot copper miners in the Cordilleras.
As the price of silver fell further, Mexican peso imports were forbidden from 1877, and only Mexican pesos dated 1877 or earlier were legally equivalent to Philippine-minted pesos and peso fuerte banknotes. However, Spain and its colonies failed to establish a proper gold standard. The Philippine peso and the Spanish duro (Spain's "peso" or five-peseta coin) thus went on a fiduciary coin (or fiat coin) standard; while worth more than the Mexican peso due to its scarcity in circulation, both coins traded at a fluctuating discount versus the gold peso.[11] While pre-1877 Mexican pesos were reminted into Philippine 10-, 20- and 50-cntimo coins until the 1890s, these coins were continuously smuggled in connivance with Customs officials due to their higher fiat value in the Philippines. ff782bc1db
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