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9083	dbpedia	1	96	https://capital.com/usd-to-php-forecast	en	Will USD/PHP Go Up or Down?	https://img.capital.com/…k_1862139214.jpg	https://img.capital.com/…k_1862139214.jpg	[ "https://static.capital.com/capital-release-c-20240807-3/images/logos/capital-app.png", "https://static.capital.com/capital-release-c-20240807-3/images/icons/cloud.svg", "https://static.capital.com/capital-release-c-20240807-3/images/logos/capital-app.png", "https://static.capital.com/capital-release-c-20240807-3/images/icons/cloud.svg", "https://img.capital.com/imgs/articles/662x308x0/shutterstock_1862139214.jpg", "https://img.capital.com/imgs/articles/750xx/PHP-forecast-MCT-7981.png 1x, https://img.capital.com/imgs/articles/1350xx/PHP-forecast-MCT-7981.png 2x", "https://img.capital.com/imgs/articles/750xx/PHP-forecast-MCT-7981_2.png 1x, https://img.capital.com/imgs/articles/1350xx/PHP-forecast-MCT-7981_2.png 2x", "https://img.capital.com/imgs/articles/750xx/PHP-forecast-MCT-7981_3.png 1x, https://img.capital.com/imgs/articles/1350xx/PHP-forecast-MCT-7981_3.png 2x", "https://static.capital.com/capital-release-c-20240807-3/img/icons/like-icon.svg?v=20240819_120600", "https://static.capital.com/capital-release-c-20240807-3/img/icons/like-icon.svg?v=20240819_120600", "https://img.capital.com/imgs/articles/88x88x1/Gr_0.png", "https://img.capital.com/imgs/articles/88x88x1/pce29.png", "https://img.capital.com/imgs/articles/88x88x1/pound-euro_0.png", "https://img.capital.com/imgs/articles/88x88x1/image1_16.png", "https://img.capital.com/imgs/articles/88x88x1/small-shutterstock_1842179239-min.jpg", "https://img.capital.com/imgs/articles/88x88x1/shutterstock_2138762345.jpg", "https://img.capital.com/imgs/articles/88x88x1/shutterstock_93122125.jpg", "https://img.capital.com/imgs/articles/88x88x1/shutterstock_1187632372.jpg", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#investing", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#reuters", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#deloitte", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#tradingview", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#applemarket", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#google", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#apple-pay", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#visa", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#mastercard", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#wire", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#pci", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#worldpay", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#trustly" ]	[]	[]	[ "" ]	null	[ "Kathryn Davies" ]	2022-11-29T13:03:00	After falling to an all time low against the USD in 2022, has the worst passed? Read on for the latest USD/PHP forecast…	en	https://static.capital.c…e-icon-57x57.png		https://capital.com/usd-to-php-forecast	After rising to an all-time high against the US dollar (USD) in September 2022, the Philippine peso (PHP) has fallen slightly in 2023. Year-to-date the PHP has dropped -0.58% aganist the USD. Here we look at the latest moves in the Philippine peso, Southeast Asia’s world performing currency this year, what fuelled those moves and analysts’ US dollar to Philippine peso forecasts. What is the Philippine peso? The Philippine peso (PHP), is the national currency of the Republic of the Philippines. The currency was pegged against the US dollar until 1993, when the New Central Bank Act of 1993 set the peso on route to becoming a free-floating currency. A free-floating exchange rate means that the value of the PHP is determined by the interbank foreign exchange markets, in other words, by supply and demand. This means that if more Philippine pesos are demanded than offered, the price of the peso would rise and vice versa. What is USD/PHP? The exchange rate USD/PHP tells us how many Philippine pesos equal one US dollar. For example, if USD/PHP was 59.00, this means that 1 USD is equivalent to 59 Philippine pesos. What influences the Philippine peso? As with many currencies, the value of the peso depends on central bank action, raising or lowering interest rates. The central bank considers growth, inflation rates, and the trade balance, among other economic factors, to set monetary policy. In addition to addressing interest rates, the Philippine Central Bank can intervene in the forex market to curb excess volatility and stem depreciation or appreciation of the PHP, if deemed necessary. The trade deficit and central bank reserves can influence the value of the Philippine peso. As well as the PHP, the value of the USD is also relevant, and whether the US Federal Reserve (Fed) is hiking or cutting interest rates can also influence the exchange rate. USD/PHP price history USD/PHP has been steadily climbing since early 2013, when the pair traded at 40.00. By 2015, the peso had weakened to 45.00 against the dollar, and the pair reached 50.00 in early 2017. From there, USD/PHP climbed to 54.40 in October 2018, before the Philippine peso strengthened again, taking the pair to 47.70 in June 2021. From this five-year low, USD/PHP climbed sharply higher across 2022, hitting an all-time peak of 59.21 on 28 September. Since then, the pair has fallen lower, starting 2023 at 55.70 and standing at 55.98 as of 17 April 2023. Latest Philippine peso developments The Philippine peso has remained at relatively consisent levels so far in 2023. However, weakness could persist amid a widening trade deficit as interest rates increase, which, combined with rising inflation, could hurt consumer demand and growth prospects. The Philippine Statistics Authority reported on 7 March that the country's headline inflation rate marginally slowed down to 8.6 percent in February 2023 from 8.7 percent in January 2023, as price increases of certain food commodities and energy eased. As a result, the Philippine central bank stayed in an inflation-fighting mode in March, raising its benchmark interest rate by 25 basis points to 6.25%, but said its next policy decision will depend largely on how consumer prices behave in the coming months. The Philippines has experienced one of the fastest rates of inflation in Southeast Asia at 8.7%, which comes as the peso is one of the worst-performing currencies in the region. The Philippine central bank, the Bangko Sentral ng Pilipinas (BSP), has hiked rates by 375 basis points (bps) since June 2022, to cool inflation and support the peso. Given that the Philippines is very dependent on imported food and energy, a weak peso can raise imported inflation, making the economic backdrop worse. At the most recent monetary policy meeting in February, the Philippine central bank raised interest rates by 50 bps, taking the overnight rate to 6% – its highest level in 15 years. BSP governor Felipe Medalla has vowed to match any move by the Fed in the coming months and maintain a 100 bps differential with the Fed fund target rate. The weaker peso has meant that the cost of importing staples such as fuel and rice has surged, lifting inflation to its highest level since December 2008. Rising commodity prices have also widened the trade deficit to a record level. According to the BSP, the trade balance and current account are expected to remain in deficit in 2023. The BSP forecast the trade balance could widen to $19bn in 2022 and $20bn in 2023. Economic growth in the Philippines was strong in the first half of 2022, boosted by the economy reopening after the Covid-19 pandemic and election-related spending. However, in the year’s second half, the economy experienced more headwinds as soaring inflation and rising borrowing costs weighed on growth. Analysts at ING forecast inflation could remain at 5.6% in 2022 and 5% in 2023. This could translate to growth of 5.9% in 2022 and 4.4% in 2023. Recent USD decline The USD has fallen steeply in recent months after inflation in the US started to cool. The US March Consumer Price Index (CPI) rose 5.0 percent from a year earlier, easing from a 6.0 percent advance the month before and missing market expectations forecasts of a 5.2 percent increase. The headline inflation eased for a ninth consecutive month to the lowest level since May 2021, led by a sharp decline in the cost of energy. On 22 March, the Federal Reserve announced that it's raising interest rates by 0.25 percentage point, following its March 21-22 meeting, bumping the federal funds rate to a target range of 4.75 to 5.0 percent. But investors are growing increasingly convinced that the Fed could start slowing the pace of rate hikes. The US dollar index (DXY), which measures the dollar against a basket of major peers, has fallen almost 1.24% YTD. The weaker USD and slower expected pace of hikes take the pressure off other global central banks to raise rates as aggressively. US dollar index (DXY) live chart USD/PHP forecast As of 28 November, analysts at Trading Economics, in their USD/PHP forecast, expected the pair to strengthen. They forecast the pair could be at 56.09 by the end of the current quarter and 57.89 in 12 months. According to ANZ Research, The peso is likely to face less choppy waters in 2023 after emerging as one of the worst performing currencies in Asia this year when the external position of the Philippines deteriorated significantly. ANZ Research said: “Ready to Rebound Even if Growth Slows.” ANZ reserach forecast that the peso is seen strengthening steadily to 55.50 in June 2023, then to 55.20 in September and 55 in December. The appreciation would extend to 54.80 in March 2024 to 54.60 in June, 54.40 in September and 54.20 by end-December 2024. The USD/PHP prediction from algorithm-based forecaster Wallet Investor also forecast that the peso could strengthen. It had USD/PHP ending this year at 57.445. In the longer term, its US dollar to Philippine peso forecast for 2025 saw the rate rising to 61.674 by the end of the year. In contrast, algorithm-based service AI pickup’s USD/PHP forecast for 2025 saw the currency strengthening to 51.03 that year. The service’s USD/PHP forecast for 2030 saw the peso strengthening to 48.96. Analysts at ING also saw the Philippine peso strengthening over the longer term. However, they forecast that USD/PHP could fall to 52.50 in the second quarter of 2023, before steadily rising to 51.50 by Q4 2025. Meanwhile, a senior analyst at MUFG, Jeff Ng, was more upbeat about the economic outlook for the Philippines, forecasting economic growth of 7.5% to 8%. Ng told a press conference that he expected the factors that affected growth, such as high inflation, a wider current account deficit, and a weaker peso, would likely normalise next year. He predicted the BSP end rate at 5.5% by the end of December, with no more BSP hikes next year. Ng also said in the previous P61 to the US dollar forecast under review after the recent US dollar weakness, which has allowed “scope for stability around current levels close to P57”. Note that analysts’ predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before trading. And never invest or trade money you cannot afford to lose. FAQs
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9083	dbpedia	1	79	https://www.ice.com/products/79696451/Mini-Philippine-Peso-US-Dollar-Futures	en	Mini Philippine Peso			[]	[]	[]	[ "" ]	null	[]	null	Cash-settled mini Philippine Peso/US Dollar Futures	en	/publicdocs/images/favicon_ice.ico		https://www.ice.com/products/79696451/Mini-Philippine-Peso-US-Dollar-Futures	Your browser is unsupported Please visit this URL to review a list of supported browsers.
9083	dbpedia	0	35	https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/eurofxref-graph-php.en.html	en	Euro exchange rates charts	https://www.ecb.europa.e…ee20bede19aa9e73	https://www.ecb.europa.e…ee20bede19aa9e73	[ "https://www.ecb.europa.eu/shared/img/logo/logo_name.en.svg", "https://www.ecb.europa.eu/shared/img/logos_mobile/ECB_Eurosystem_OneLineLogo_Mobile_EN.svg", "https://www.ecb.europa.eu/shared/img/logo/logo_only.svg", "https://www.ecb.europa.eu/press/tvservices/html/index/ECB press conference place holder new_2560x1440.jpg", "https://www.ecb.europa.eu/paym/financial-stability/html/index/fsr_1000x750.jpg", "https://www.ecb.europa.eu/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg", "https://www.ecb.europa.eu/euro/digital_euro/shared/img/Digital Euro_Website_Homepage-Box-eurosign_1000x750.jpg", "https://www.ecb.europa.eu/pub/html/index/research-bulletin_2560x800.jpg" ]	[]	[]	[ "" ]	null	[ "European Central Bank" ]	2024-08-19T00:00:00	The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.	en	/fav.ico	European Central Bank	https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/eurofxref-graph-php.en.html	Our website uses cookies We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies. Learn more about how we use cookies Thank you! Thank you! Your cookie preference has expired We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies. Learn more about how we use cookies
9083	dbpedia	3	3	https://worldpopulationreview.com/country-rankings/countries-that-use-pesos	en	Countries that Use Pesos 2024	https://worldpopulationreview.com/favicon.ico	https://worldpopulationreview.com/favicon.ico	[ "https://worldpopulationreview.com/_next/image?url=%2F_next%2Fstatic%2Fmedia%2Flogo2x.b874b885.png&w=32&q=75 1x, /_next/image?url=%2F_next%2Fstatic%2Fmedia%2Flogo2x.b874b885.png&w=64&q=75 2x", "https://worldpopulationreview.com/_next/image?url=%2Fsvg_placeholder.png&w=1080&q=75 1x, /_next/image?url=%2Fsvg_placeholder.png&w=2048&q=75 2x" ]	[]	[]	[ "" ]	null	[]	null		en	/favicon.ico		null	What is a peso? A peso is a unit of currency, similar to the dollar, pound, franc, and euro, which is common throughout North America and South America. The word peso translates to "weight" in Spanish. In many countries, both pesos and US dollars are accepted as a medium of exchange for goods and services. Although the dollar and the peso are two separate currencies with vastly different values, both use the $ sign and the words peso and dollar may be used interchangeably in some regions, which can be confusing to travelers. What Countries Use the Peso? Pesos are the primary form of currency in several Spanish-speaking countries in the Americas, as well as the Philippines. Each country mints its own version of the peso. Argentine pesos, for example, have a different appearance and value than Mexican, Cuban, or Chilean pesos. Countries that Currently Use Pesos: CountryCurrencyISO 4217 code$1 USD (15 Nov 2022) =ArgentinaArgentine pesoARS162.12 ARSChileChilean pesoCLP885.60 CLPColombiaColombian pesoCOP4,805.98 COPCubaCuban pesoCUP24.01 CUPDominican RepublicDominican pesoDOP54.25 DOPMexicoMexican pesoMXN19.38 MXNPhilippinesPhilippine pesoPHP57.25 PHPUruguayUruguayan pesoUYU40.02 UYU Where did the peso come from? The original pesos were silver coins minted in Spain in 1497, with a weight roughly equivalent to 25.56g of fine silver. Spanish explorers brought the peso to Latin America, where a simplified manufacturing process was adopted: Silver was formed into a bar, which was then sliced into small pieces that were then hammered into rough, irregular coins. The peso manufacturing process was standardized and mechanized by Spanish laws in 1728 and 1730, which slightly reduced the amount of silver in a peso to 24.809g and created a perfectly round, officially minted coin. This updated peso was known in North American colonies by names including a piece of eight, Spanish dollar, and Mexican dollar. Although it was the world's most popular coin for international trade in the 1700s, the peso gradually fell out of use in Europe in the 1800s, and was eventually replaced in Spain by the peseta in 1868. The coin retained its popularity in the Americas, however, from which it had spread across the Pacific to the Philippines. In fact, the "Spanish dollar" was accepted as legal currency in the United States until 1857. Countries that previously used the peso Multiple countries used the peso at some time in their history, but have since switched over to another form of currency. As previously mentioned, Spain invented the peso, but eventually replaced it with the peseta in 1868, which itself gave way to the euro in 2002. Additional countries that previously used the peso include Panama, Costa Rica, and Nicaragua. CountryPeso TypeYear ReplacedCurrent CurrencyISO 4217 codeBoliviaBolivian peso1986Bolivian bolivianoBOBCosta RicaCosta Rican peso1896Costa Rican colónCRCEcuadorEcuadorian peso1884US dollarUSDEl SalvadorSalvadoran peso1919US dollar/BitcoinUSD/BTCEquatorial GuineaEquatorial Guinean peso1975Central African CFA francXAFGuatemalaGuatemalan peso1925Guatemalan quetzalGTQGuinea-BissauGuinea-Bissau peso1997West African CFA francXOFHondurasHonduran peso1931Honduran lempiraHNLNicaraguaNicaraguan peso1912Nicaraguan córdobaNIOParaguayParaguayan peso1943Paraguayan guaraniPYGPeruPeruvian peso1863Peruvian solPENPuerto RicoPuerto Rican peso1900US dollarUSDSpainSpanish peso1869EU euroEURVenezuelaVenezuelan peso1874Venezuelan bolívarVEF Is the Peso Worth a Lot of Money?
9083	dbpedia	1	80	https://www.remitfinder.com/best-exchange-rate-to-send-money-from-usa-to-philippines/rr/USA/PHL	en	Compare exchange rates and money transfer providers to send money	https://www.remitfinder.…avicon-32x32.png	https://www.remitfinder.…avicon-32x32.png	[]	[]	[]	[ "" ]	null	[]	null		en	/assets/favicons/apple-touch-icon.png		null
9083	dbpedia	0	23	https://currencies.fandom.com/wiki/Philippine_peso	en	Philippine peso	https://static.wikia.nocookie.net/currencies/images/b/b2/PHP_500_obv.jpg/revision/latest?cb=20210405035415	https://static.wikia.nocookie.net/currencies/images/b/b2/PHP_500_obv.jpg/revision/latest?cb=20210405035415	[ "https://static.wikia.nocookie.net/currencies/images/e/e6/Site-logo.png/revision/latest?cb=20210713171449", "https://static.wikia.nocookie.net/tsballdrop/images/9/96/Wikipedia-logo-v2.svg.png/revision/latest?cb=20220711095321", "https://static.wikia.nocookie.net/currencies/images/6/6b/Phpngcbanknotes.jpeg/revision/latest/scale-to-width-down/100?cb=20180408104931", "https://static.wikia.nocookie.net/currencies/images/5/50/Phpngccoins.jpeg/revision/latest/scale-to-width-down/100?cb=20180408105743", "https://static.wikia.nocookie.net/currencies/images/2/2b/Phpbspcoins.jpeg/revision/latest/scale-to-width-down/100?cb=20180408110623", "https://static.wikia.nocookie.net/currencies/images/6/6b/Phpngcbanknotes.jpeg/revision/latest/scale-to-width-down/100?cb=20180408104931", "https://static.wikia.nocookie.net/currencies/images/9/99/Flag_of_the_Philippines.svg/revision/latest/scale-to-width-down/23?cb=20121006123937", "https://static.wikia.nocookie.net/currencies/images/b/b2/PHP_500_obv.jpg/revision/latest/scale-to-width-down/120?cb=20210405035415", "https://static.wikia.nocookie.net/currencies/images/0/0b/English_language.svg/revision/latest/scale-to-width-down/23?cb=20110425190655", "https://static.wikia.nocookie.net/6a181c72-e8bf-419b-b4db-18fd56a0eb60", "https://static.wikia.nocookie.net/6c42ce6a-b205-41f5-82c6-5011721932e7", "https://static.wikia.nocookie.net/464fc70a-5090-490b-b47e-0759e89c263f", "https://static.wikia.nocookie.net/f7bb9d33-4f9a-4faa-88fe-2a0bd8138668" ]	[]	[]	[ "" ]	null	[ "Contributors to Currency Wiki" ]	2024-07-29T22:27:06+00:00	The Philippine peso, also referred to by its Filipino name piso (sign: ₱; cPhilippines. It is subdivided into 100 centavos or sentimos in Filipino. As a former colony of the United States, the country used English on its currency, with the word "peso" appearing on notes and coinage until 1967...	en	/skins-ucp/mw139/common/favicon.ico	Currency Wiki	https://currencies.fandom.com/wiki/Philippine_peso	This page uses Creative Commons Licensed content from Wikipedia (view authors). The Philippine peso, also referred to by its Filipino name piso (sign: ₱; cPhilippines. It is subdivided into 100 centavos or sentimos in Filipino. As a former colony of the United States, the country used English on its currency, with the word "peso" appearing on notes and coinage until 1967. Since the adoption of the usage of the Filipino language on banknotes and coins, the term "piso" is now used. Since 2017, the ISO 4217 standard refers to the currency by the Filipino termPhilippine pesojust "P the Unicode standard in version 3.2 and is assigned U+20B1 (₱). The symbol can be accessed through some word processors by typing in "20b1" and then pressing the Alt and X buttons simultaneously.[2] This symbol is unique to the Philippines as the symbol used for the peso in countries like Mexico and other former colonies of Spain in Latin America is "$". Banknotes and coins of the Philippines are minted and printed at the Security Plant Complex of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) in Quezon City. Coinage[] Both Spain and the United States struck coins for the Philippines while the latter was their colony. Spanish issues were 1 peso, 2 pesos and 4 pesos (all gold from 1861–1868 and again in 1880-1885). Silver fractional coinage ran from 1864–1868 and again from 1880–1885 and were in the denominations of ten centavo, twenty centavo and fifty centavo. The United States also struck coins for use in the Philippines from 1903 to 1945. Denominations included the ½ centavo, one centavo, five centavo, 10 centavo, 20 centavo, 50 centavo, and one peso. The ½ and 1 centavo coins were struck in bronze, the 5 centavo struck in Copper (75%) - Nickel (25%), the 10, 20, 50 centavo and peso coins were struck in a silver composition. From 1903 to 1906, the silver coins had a silver content of 90%, while those struck after 1906 had a reduced silver content of 75% for 10 through 50 centavos and 80% for the peso. In both cases the silver was alloyed with copper. The obverse of these coins remained largely unchanged during the years 1903 to 1945. The ½ centavo, one centavo, and five centavo coins depict a Filipino man kneeling against an anvil, with a hammer resting at his side. He is on the left side (foreground), while on the right side (background) there is a simmering volcano, Mt. Mayon, topped with smoke rings. This figure is an allegory for the hard work being done by the native peoples of the Philippines in building their own future. The obverse of the 10, 20, 50 centavo, and peso coins are similar, but they show the figure of Liberty, a standing female figure (considered by many to be the daughter of the designer 'Blanca') in the act of striking the anvil with a hammer. This was done to show the work being done by Americans in building a better Philippines. Liberty appears on the silver coins, instead of the base metal coins. The reverse of the coins comes in two varieties. The earliest coins were minted when the islands were a US Territory, and they bear the arms of the US Territories. This is a broad winged eagle, sitting atop a shield divided into two registers. The upper register has 13 stars, and the lower register has 13 vertical stripes. The date appears at the bottom, and "United States of America" appears at the top. When the islands became a US Commonwealth, the arms of the Commonwealth were adopted. This seal is composed of a much smaller eagle with its wings pointed up, perched over a shield with peaked corners, above a scroll reading "Commonwealth of the Philippines". It is a much busier pattern, and widely considered less attractive. Coins were minted at the Philadelphia, San Francisco, Denver, and (after it was opened in 1920) Manila mints. Most of the coins struck at the Manila mint occurred after 1925. Proof sets were struck for collectors from 1903 to 1908. It is likely that a large majority of these sets remained unsold at the time they were issued. The recorded mintage for sets in 1905, 1906, and 1908 is a modest 500. Defenders of Corregidor threw a large number of silver coins into the ocean, rather than allow the Japanese to accumulate this wealth. A great deal of the booty was later recovered, but many of those were badly corroded. Among the rarest coins in the U.S. Philippines series from the collectors' standpoint are the 1906-S One Peso, the 1916-S Five Centavos, the 1918-S Five Centavo Mule, the 1903-S Twenty Centavos (especially in Mint State) and the 1915-S One Centavo. Three Commemorative coins were minted to celebrate the Commonwealth in 1936. They show President Franklin D. Roosevelt, Commonwealth President Manuel L. Quezon and U.S. High Commissioner Frank Murphy, who also has served as the last Governor General of the Islands. The 50 Centavo commemorative has a reported mintage of 20,000 pieces, was struck in 75% silver, and weighs 10 grams (the same specifications as other 50 centavos). The two varieties of One Peso commemorative had reported mintages of 10,000 pieces. They weigh 20 grams, and are 90% silver. After the granting of independence to the Philippines in 1946, no coins were minted for the Philippine Republic until 1958, other than a small silver commemorative issue in 1947 to honor General Douglas MacArthur. Totals of 200,000 50 centavos and 100,000 one peso coins were minted with the general's image on the obverse and the national coat-of-arms on the reverse. Struck at the San Francisco Mint, they carry the "S" mintmark below the date. In 1958, the 20 centavos was replaced with a 25 centavos and all coins were resized to be the same diameter as their US equivalents, albeit in more base metals, other than the centavo. The same seated man with anvil and volcano or standing liberty with anvil and volcano designs were retained for the obverses while the seal of the Central Bank of the Philippines dominated the reverse. These coins were minted by the Philadelphia Mint from 1958 through 1963, and then by the Royal Mint in England and the Vereinigte Deutsche Metallweke in West Germany in 1965 (dated 1964) and 1966. In view of all subsequent issues using the Tagalog language, this coinage is often referred to as the "English Series" since it uses the English language. The next series was introduced in 1967, introducing images of various Philippine national heroes, and the use of the Tagalog (or "Pilipino") language, hence being called the "Pilipino Series." The sizes of the coins were reduced. These coins were struck by the various US mints, except for some 50 centavos pieces dated 1972 which were minted in Singapore, and a couple commemorative issues struck by the Sherritt Mint in Canada. In 1972 the one peso denomination was reintroduced. In commemoration of Fedinand Marcos' declaration of Martial Law (which he titled "Ang Bagong Lipunan," the new society), a new series of coinage was issued in 1975, referred to as the Ang Bagong Lipunan Series. The 50 sentimo was done away with as a denomination and a new 5 peso issue took its place. A variety of mints provided these coins, including the Royal Mint in England and the Vereinigte Deutsche Metallweke in West Germany, Philadelphia and San Francisco mints in the US, the Franklin Mint (a private mint also in the US), the Sherritt Mint in Canada, and finally the Philippine's own mint, once it was opened and able to produce coinage. From this point on, the Philippine Mint (Bangko Sentral Pilipinas, "BSP") produced nearly all Philippine coinage. After eight years, the Ang Bagong Lipunan series gave way to a new series titled the Flora and Fauna Series, in which the coins, in addition to featuring various Philippine national heroes as before, also began featuring various plant and animal life forms native to the Philippines. The 50 Sentimo and 2 Piso denominations were reintroduced, which latter had not been struck as a coin since the Spanish had struck it in gold. The 5 Piso denomination was stopped, but resumed (in a new smaller size) concurrent to the final four years of the Flora and Fauna Series which featured reduced sizes for all denominations. The Flora and Fauna Series was struck from 1983 through 1994. In 1995 the New BSP Series was introduced, which is still circulating today, but might be demonetized soon. Only this current series of coins are legal tender as of January 2, 1998, when the Bangko Sentral ng Pilipinas issued BSP Circular No. 81 which called for the demonetization of all previous existing Central Bank coins minted before 1995. Recently, fake 10- and 5-piso coins dating 2001 and 2002 have entered circulation. Because of this, the Bangko Sentral ng Pilipinas issued a warning and several security measures on importing and falsifying Philippine coins. And it is because the BSP has announced that there is an artificial shortage of coins last June 2006. The BSP has asked the public to use all small coins or to have them exchanged for banknotes in local banks or other financial institution. In December 2008 a Philippine Congress resolution called for the retirement and demonetization of all coins less than 1 Piso. Although, the BSP still circulates coins less than 1 piso. On November 29, 2017, the Bangko Sentral ng Pilipinas announced the release of the first coin in the New Generation Currency Coin series for circulation starting December 2017. As a tribute to the 154th birth anniversary of Andres Bonifacio, the first coin to be released was the new silver-colored 5-peso coin featuring Bonifacio on the obverse, replacing Emilio Aguinaldo. The reverse features the Tayabak plant and the new BSP logo. [3] The rest of the NGC coin series were presented on March 26, 2018.[4] Banknotes[] New Generation Currency Series (current)[] In 2009, the Bangko Sentral ng Pilipinas announced that it will launch a massive redesign for the banknotes and coins to further enhance security features and to improve durability.[5] The members of the numismatic committee included Bangko Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo, chairman of the National Historical Institute. Designed by Studio 5 Designs and Design Systemat, the new banknotes' designs features famous Filipinos and iconic natural wonders. Philippine national symbols will be depicted on coins. The BSP started releasing the initial batch of new banknotes in December 2010. The word used in the bills was "Pilipino" (ᜉᜒᜎᜒᜉᜒᜈᜓ). On December 16, 2010, the new design for Philippine banknotes were released. The font used for lettering in the banknotes is Myriad, while the numerals are set in the Twentieth Century font.[6] On December 16, 2016, BSP announced that they will launch sets of banknotes bearing President Duterte's signature. The BSP initially released five million pieces of the new 20, 50, 100, 500, and 1,000-peso bills with Duterte's signature. As for the 200-pesos bills, only two million pieces were released because of lower demand for this denomination.[7] The New Generation Currency series will be the only circulating set of notes by December 30, 2017.[8] In 2017, the BSP updated the design of the NGC series banknotes with the following changes:[9] Replacing the signature of BSP governor Amando Tetangco Jr. to the newly appointed governor Nestor Espenilla Jr. (all banknotes) Enlarged the font size of the year of issue (all banknotes) Italicization of the scientific names on the reverse (all banknotes) Replaced the images of the Aguinaldo Shrine and the Barasoain Church on the obverse side of the ₱200 banknote with scenes of the Declaration of Philippine Independence and the opening of the Malolos Congress respectively. The text "October 1944" was added after the word "Leyte Landing" at the obverse of the ₱50 banknote The Order of Lakandula Medal and the phrase “Medal of Honor” were removed on the obverse side of the ₱1000 banknote Coins[] Obverse Reverse Face Value Diameter Mass Edge Thickness Composition Edge Obverse Reverse Introduced File:Philngc1sentobv.jpg File:Philngc1sentrev.jpg 1 sentimo 15 mm 1.90 g 1.54 mm Nickel-plated steel Plain "Republika ng Pilipinas"; Three stars and the sun (stylized representation of the Philippine flag); Value; Year of minting; Mint mark Xanthostemon verdugonianus (Mangkono); logo of the Bangko Sentral ng Pilipinas March 26, 2018 File:Philngc5sentob.jpg File:Philngc5sentrev.jpg 5 sentimo 16 mm 2.20 g 1.60 mm Nickel-plated steel Reeded "Republika ng Pilipinas"; Three stars and the sun (stylized representation of the Philippine flag); Value; Year of minting; Mint mark Calotropis gigantea (Kapal-kapal Baging); logo of the Bangko Sentral ng Pilipinas March 26, 2018 File:Philngc25sentobv.jpg File:Philngc25sentrev.jpg 25 sentimo 20 mm 3.60 g 1.65 mm Nickel-plated steel Plain "Republika ng Pilipinas"; Three stars and the sun (stylized representation of the Philippine flag); Value; Year of minting; Mint mark Dillenia philippinensis (Katmon); logo of the Bangko Sentral ng Pilipinas March 26, 2018 File:Philngc1pisoobv.jpg File:Philngc1pisorev.jpg ₱1 23 mm 6.00 g 2.05 mm Nickel-plated steel Segmented (Plain and Reeded edges) "Republika ng Pilipinas"; Portrait of José Rizal; Value; Year of minting; Mint mark Vanda sanderiana (Waling-waling); logo of the Bangko Sentral ng Pilipinas March 26, 2018 ₱2 TBD TBD TBD TBD TBD TBD TBD TBD File:Philngc5pisoobv.jpg File:Philngc5pisorev.jpg ₱5 25 mm 7.40 g 2.20 mm Nickel-plated steel Plain "Republika ng Pilipinas"; Portrait of Andrés Bonifacio; Value; Microprint of "Republika ng Pilipinas"; Year of minting; Mint mark Strongylodon macrobotrys (Tayabak); logo of the Bangko Sentral ng Pilipinas; Microprint of "Bangko Sentral ng Pilipinas" November 30, 2017 File:Philngc10pisoobv.jpg File:Philngc10pisorev.jpg ₱10 27 mm 8.00 g 2.05 mm Nickel-plated steel Reeded with edge inscription of "BANGKO SENTRAL NG PILIPINAS" in italics "Republika ng Pilipinas"; Portrait of Apolinario Mabini; Value; Microprint of "Republika ng Pilipinas"; Year of minting; Mint mark Medinilla magnifica (Kapa-kapa); logo of the Bangko Sentral ng Pilipinas; Microprint of "Bangko Sentral ng Pilipinas"; Microdots March 26, 2018 ₱20 TBD TBD TBD TBD TBD TBD TBD late 2019 or early 2020 Banknotes[] New Generation Currency series Image Value Dimensions (millimetres) Main Colour Design Year of First Issue Usage in circulation Obverse Reverse Obverse Reverse File:PHP 20 obv.jpg File:PHP20 reverse.jpg ₱20Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Orange Manuel L. Quezon, Declaration of Filipino as the national language, Malacañang Palace Banaue Rice Terraces; Paradoxurus hermaphroditus philippinensis (palm civet); Cordilleras weave design December 17, 2010 Wide File:PHP 50 obv.jpg File:PHP 50 rev.jpg ₱50Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Red Sergio Osmeña, First Philippine Assembly, Leyte Landing Taal Lake in Batangas; Caranx ignobilis, maliputo (giant trevally); Batangas embroidery design December 17, 2010 Wide File:PHP 100 obv (2010).jpg File:PHP 100 rev (2010).jpg ₱100Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Violet Manuel A. Roxas, Old Bangko Sentral ng Pilipinas (BSP) building in Intramuros, Manila, Inauguration of the Third Philippine Republic Mayon Volcano in Albay; butanding, Rhincodon typus, whale shark; Bicol textile design December 17, 2010 Wide File:PHP 100 obv (new).jpg File:PHP 100 rev (new).jpg ₱100Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Violet Manuel A. Roxas, Old Bangko Sentral ng Pilipinas (BSP) building in Intramuros, Manila, Inauguration of the Third Philippine Republic, stronger mauve color than previous banknote Mayon Volcano in Albay; butanding, Rhincodon typus, whale shark; Bicol textile design April 11, 2015 Wide File:PHP 200 obv (old).jpg File:PHP 200 rev (old).jpg ₱200Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Green Diosdado P. Macapagal, EDSA People Power 2001, Aguinaldo Shrine in Kawit, Cavite, Barasoain Church in Malolos, Bulacan Chocolate Hills in Bohol; Tarsius syrichta, Philippine tarsier; Visayas weave design December 17, 2010 Limited File:PHP 200 obv (2017).png File:PHP 200 rev (new).jpg ₱200Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Green Diosdado P. Macapagal, EDSA People Power 2001, Declaration of Philippine Independence in Kawit, Cavite, Opening of the Malolos Congress in Barasoain Church, Malolos, Bulacan Chocolate Hills in Bohol; Tarsius syrichta, Philippine tarsier; Visayas weave design December 5, 2017 Limited File:PHP 500 rev.jpg ₱500Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Yellow Corazon C. Aquino, Benigno S. Aquino, Jr., EDSA People Power I, Benigno Aquino monument in Makati City Subterranean Underground River in Puerto Princesa, Palawan; Tanygnathus lucionensis, blue-naped parrot; Southern Philippines cloth design December 17, 2010 Wide File:PHP 1000 obv (old).jpg File:PHP 1000 rev (old).jpg ₱1000Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Light Blue José Abad Santos, Vicente Lim, Josefa Llanes Escoda; Centennial celebration of Philippine independence; Philippine Medal of Honor Tubbataha Reefs Natural Park in Sulu Sea; Pinctada maxima, South Sea pearl; Mindanao design for Tinalak (Ikat-dyed abaca) December 17, 2010 Wide File:PHP 1000 obv(new).png File:PHP 1000 reverse (new).jpg ₱1000Lua error in Module:Anchor at line 14: attempt to call field 'compressSparseArray' (a nil value). 160 × 66 Light Blue José Abad Santos, Vicente Lim, Josefa Llanes Escoda; Centennial celebration of Philippine independence Tubbataha Reefs Natural Park in Sulu Sea; Pinctada maxima, South Sea pearl; Mindanao design for Tinalak (Ikat-dyed abaca) December 5, 2017 Wide Template:Standard banknote table notice Security[] Raised ink on all upper-left numbers (20, 50, 100, 200, 500, 1000) - All banknotes Rough Texture - All banknotes Concealed Value - All banknotes Watermark - All banknotes See-through registration device - All banknotes 5mm-wide 3D Security Thread - 1000 peso notes 4mm-wide Metallic Security thread - 100, 200, and 500 notes 2mm-wide Embedded Security thread - 20 and 50 Peso notes Optically Variable Device Patch - 500 and 1000 Peso notes Optically Variable Ink - 1000 Peso notes UV Light - All Banknotes Errors[] Several errors have been discovered on banknotes of the New Generation series and have become the subject of ridicule on social networking sites. Among these are the exclusion of Batanes from the Philippine map on the reverse of all denominations, the mislocation of the Puerto Princesa Subterranean Underground River on the reverse of the 500-peso bill and the Tubbataha Reef on the 1000-peso bill, and the incorrect coloring on the beak and feathers of the blue-naped parrot on the 500-peso bill.[10][11] The scientific names of the animals featured on the reverse sides of all banknotes were incorrectly rendered as well.[12] According to Design Systemat, the designers of the new bills, that drafts prepared by the company of the new 500-peso bill shows a red beak of the blue-naped parrot. This color was changed by the printers to account for practical printing concerns. The designers further explains that printing banknotes is not like printing brochures. Due to the intalgio printing and limited printing capability of banknote printers, it can only produce a limited full color reproduction. The alleged mislocation of the Tubbataha Reef on the one thousand peso note was due to a security feature, a smaller version of the featured species on the bills' reverse (which is also featured on all banknote denominations) was located on top of the exact location of the Tubbataha Reef on the map. Giving the option of either moving the key security feature on the standard position or locating the Tubbataha marker correctly, the bills' French printers, Oberthur Technologies, decided to move the reef marker slightly south on the Philippine map.[13] History[] For more information, see History of Philippine money in the English Wikipedia The Isabella peso or peso fuerte[] The Isabelline peso, more formally known as the peso fuerte, was a unit of account divided into 100 céntimos (equivalent to 8 reales fuertes or 80 reales de vellón). Its introduction led to the Philippines' brief experiment with the gold standard, which would not again be attempted until the American colonial period. The peso fuerte was also a unit of exchange equivalent to 1.69 grams of gold, 0.875 fine (0.0476 XAU), equivalent to ₱1,390.87 (refers to the modern peso; as of September 2015). Coin production at the Casa de Moneda de Manila began in 1861 with gold coins (0.875 fine) of three denominations: 4 pesos, 2 pesos, and 1 peso. On March 5, 1862, Isabel II granted the mint permission to produce silver fractional coinage (0.900 fine) in denominations of 10, 20, and 50 centimos de peso. Minting of these coins started in 1864, with designs similar to the Spanish silver escudo. American Colonial Period (1901-1945)[] After the United States took control of the Philippines, the United States Congress passed the Philippine Coinage Act of 1903, established the unit of currency to be a theoretical gold peso consisting of 12.9 grains of gold 0.900 fine (0.026875 XAU), equivalent to ₱2,933.07 modern pesos of as of 22 December 2010. The act provided for the coinage and issuance of Philippine silver pesos substantially of the weight and fineness as the Mexican peso, which should be of the value of 50 cents gold and redeemable in gold at the insular treasury, and which was intended to be the sole circulating medium among the people. The act also provided for the coinage of subsidiary and minor coins and for the issuance of silver certificates in denominations of not less than 2 nor more than 10 pesos. Commonwealth Period (1935-1946)[] When the Philippines became a US Commonwealth in 1935, the coat of arms of the Philippine Commonwealth were adopted and replaced the arms of the US Territories on the reverse of coins while the obverse remained unchanged. This seal is composed of a much smaller eagle with its wings pointed up, perched over a shield with peaked corners, above a scroll reading "Commonwealth of the Philippines". It is a much busier pattern, and widely considered less attractive. Modern currencies (1946-present)[] Pilipino Series[] The Pilipino series banknotes is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1969 to 1973, during the term of President Ferdinand Marcos. It was succeeded by the Ang Bagong Lipunan Series of banknotes, to which it shared a similar design. The lowest denomination of the series is 1-piso and the highest is 100-piso. This series represented a radical change from the English series. The bills underwent Filipinization and a design change.After the declaration of Proclamation № 1081 on September 23, 1972, the Central Bank demonetized the existing banknotes (both the English and Pilipino series) on March 1, 1974, pursuant to Presidential Decree No. 378.[13] All the unissued banknotes were sent back to the De La Rue plant in London for overprinting the watermark area with the words "ANG BAGONG LIPUNAN" and an oval geometric safety design. Ang Bagong Lipunan series[] The Ang Bagong Lipunan Series (literally, ”The New Society Series") is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1973 to 1985. It was succeeded by the New Design series of banknotes. The lowest denomination of the series is 2-piso and the highest is 100-piso. After the declaration of Proclamation № 1081 by President Ferdinand Marcos on September 23, 1972, the Central Bank was to demonetize the existing banknotes in 1974, pursuant to Presidential Decree 378. All the unissued Pilipino Series banknotes (except the one peso banknote) were sent back to the De La Rue plant in London for overprinting the watermark area with the words "ANG BAGONG LIPUNAN" and an oval geometric safety design. The one peso note was replaced with the two peso note, which features the same elements of the demonetized "Pilipino" series one peso note. On September 7, 1978, the Security Printing Plant in Quezon City was inaugurated to produce the banknotes. And a minor change of its BSP seal. New Design Series[] The New Design Series (NDS) was the name used to refer to Philippine banknotes issued from 1985 to 1993; it was renamed the BSP series when the Bangko Sentral ng Pilipinas was established in 1993. It was succeeded by the New Generation Currency (NGC) banknotes issued on December 16, 2010. The NDS/BSP banknotes were no longer in print and legal tender after December 31, 2015. The NDS/BSP notes was demonetized and exchanged with NGC notes in 2016; all will be withdrawn from circulation originally scheduled by January 1, 2017. The demonetization was however extended until December 29, 2017 after the Bangko Sentral ng Pilipinas approved the extension due to public clamor. New Generation Currency (current)[] In 2009, Bangko Sentral ng Pilipinas (BSP) announced that it has launched a massive redesign for current banknotes and coins to further enhance security features and improve durability. The members of the numismatic committee include BSP Deputy Governor Diwa Guinigundo and Ambeth Ocampo, Chairman of the National Historical Institute. The new banknote designs feature famous Filipinos and iconic natural wonders. Philippine national symbols will be depicted on coins. The BSP started releasing the initial batch of new banknotes in December 2010. References[] Philippine peso on the English Wikipedia v · d · e Philippine peso Banknotes 5¢ • 10¢ • 20¢ • ₱½ • ₱1 • ₱2 • ₱5 • ₱10 • ₱20 • ₱50 • ₱100 • ₱200 • ₱500 • ₱1,000 • ₱2,000 • ₱100,000 Coins ½¢ • 1¢ (1903–1963) • 1¢ (1967–) • 5¢ (1903–1966) • 5¢ (1967–) • 10¢ (1864–1885) • 10¢ (1903–1966) • 10¢ (1967–) • 20¢ (1864–1885) • 20¢ (1903–1945) • 25¢ (1958–1966) • 25¢ (1967–) • 50¢ (1865–1885) • 50¢ (1903–1964) • 50¢ (1967–) • ₱½ • ₱1 • ₱2 • ₱4 • ₱5 • ₱10 • ₱25 • ₱50 • ₱80 • ₱100 • ₱150 • ₱200 • ₱500 • ₱1,000 • ₱1,500 • ₱2,000 • ₱2,500 • ₱5,000 • ₱10,000 Miscellaneous Bangko Sentral ng Pilipinas • Centavo • Peso • Philippine peso sign • Sentimo • Nestor Espenilla Jr. \|}
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"globe", "flag" ]	null	[ "Laurent PELE" ]	null	List of countries and currencies		/ico/favicon.ico		//fxtop.com/en/countries-currencies.php	Put your mouse over a country to see its name, flag and currency, click on it to see details of the currency ESTA Zoom in on: World Europe East Europe North america South america Africa Middle East Caribbean Asia Pacific Sorry ! 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9083	dbpedia	1	38	https://www.westernunion.com/us/en/currency-converter/usd-to-php-rate.html	en	Convert US Dollar to Philippine Peso	https://www.westernunion.com/content/dam/wu/logo/favicon-48x48.ico	https://www.westernunion.com/content/dam/wu/logo/favicon-48x48.ico	[ "https://www.westernunion.com/staticassets/R24-07.04.0/media/Symbol_YellowTransparent.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/GettyImages-1394855522-704x704-min-1723580448347.webp", "https://www.westernunion.com/staticassets/R24-07.04.0/media/app-store.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/google-play-badge-ai.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/section-786x560-1-1723580448348.webp", "https://www.westernunion.com/staticassets/R24-07.04.0/media/facebook-icon-1-1.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/youtube-icon-1-1.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/instagram.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/icon-X-former-twitter-dark-web.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/Primary_YellowWhite.svg", "https://www.westernunion.com/staticassets/R24-07.04.0/media/Primary_YellowWhite.svg" ]	[]	[]	[ "" ]	null	[]	null	Check today's US Dollar to Philippine Peso exchange rate with Western Union's currency converter. Send USD and your receiver will get PHP in minutes.	en	/content/dam/wu/logo/favicon-48x48.ico	Western Union Money Transfer	https://www.westernunion.com/us/en/currency-converter/usd-to-php-rate.html	1Fee reductions apply only to the Western UnionÂ® transfer fee for a single Western Union Money TransferÂ® or Quick CollectÂ® transaction. Excludes all other services, including without limitation, online bill payments, and money transfers via social/chat applications. Points used will not be reversible and if amount of transfer fee is less than redeemed discount, no cash, credit or refund will be provided. 2If youâre using a credit card, a card-issuer cash advance fee and associated interest charges may apply. To avoid these fees or for reduced fees, use a debit card or check other payment methods.
9083	dbpedia	0	74	https://coinmill.com/PHP_calculator.html	en	Calculator for Philippine Pesos (PHP) Currency Exchange Rate Conversion			[]	[]	[]	[ "" ]	null	[]	null	Convert money in Philippine Peso (PHP) to and from foreign currencies using up to date exchange rates.	en	data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAABAAAAAQCAYAAAAf8/9hAAAC5klEQVQ4T2WSbUhTYRTHz3VKoqX4QQpKv/QhgoLKKCKCglQioTBCKpA2nS9TKEXJlttVybIXKBAhTJkpzrnKbeq2UDYtJ9pMczoyl0PTTUei+J5ru3t6nu3eGnXgt3t3Xv7nPOe5ANh8zlIe45Cc8zmlbYyDtjEOad+mXSxYsBRH4vBOTBFmCGPDtGASICSER2oBOWiez0lXofky5GehHHHvnllp38ljewtJD5L6D+V+AZ9DmhgoLEPeORq5LEXj7u+STU4ET1LPC6HMAJQXKMoaJLCNuQJontay3VDl3fOJRFTbmBaLj+EifnKktEuHrlGhO6IgYDmYX6yIjAjMkbHtg7dGSfSDik+Rp3umtIYIuGckP9FK5UHgjBcWjn+XWIEOvEDaQsbftN/zPJIk7ePysH+IFVj6qBMegb92HLPBCihJopgkusaKB0vEqbvbhLC//iYVv2aXlPn3sFihi4kOV+NkDaYSM8sWM3gnJTA7XBBh0afnKvgg7sgDDwYRVEKYkhfGphTknhbg5Hn4/xaGMTFQnwJh6mxoIEWdhPwA6hxAXU9SS9NTL1/HiaagQueuyIjWbtlTGl9dFGhEkMwVv8kG5nkadf8Vn5JVX4VaNGVyMBPGRatWRj4essgD+rrH+dvjXdPI1ru1OqwthvY8qCMCahGglKOhf5a1Omo4gSZ7EPr2Hplaqms5v6v/7RnfV+MGiW1Z3imhXQQq0l0hxB9KkKEZc5JfwNaLjI3PbnD+KUNTBPYvk9jGZ70G1LkgIRPgSZA8A6pIklIAh3XShIukO7L1oPUR3ZhZWRNHYsyEoQIXe/AUaMmseQGtWRCH98Bt34dhyPtrIUx7J/vl/ikCMCw+8t/7xbBuUlQnwZ0LoZQyC/h4B8vcFXayEzWL9txGNpORdAsSQm5r9+qEvoEOPjI0CahTCiE8aMmEtuYMUDTwqSJJMsSvWQei10a0mesj2tqVTx3yHwOqh6Pql2e5ut8ANea38joyIwAAAABJRU5ErkJggg==		https://coinmill.com/PHP_calculator.html	This currency convertor is up to date with exchange rates from August 18, 2024. Enter the amount to be converted in the box to the left of the currency and press the "convert" button. To show Philippine Pesos and just one other currency click on any other currency. The Philippine Peso is the currency in Philippines (PH, PHL). The symbol for PHP can be written P. The Philippine Peso is divided into 100 centavos. The exchange rate for the Philippine Peso was last updated on August 15, 2024 from The International Monetary Fund. The PHP conversion factor has 6 significant digits.
9083	dbpedia	2	82	https://www.3ecpa.com.ph/resources/miscellaneous-topics/philippine-peso-currency/	en	The Philippine Peso Currency: Today and Yesterday	https://www.3ecpa.com.ph…y-1200x630-1.jpg	https://www.3ecpa.com.ph…y-1200x630-1.jpg	[ "https://www.3ecpa.com.ph/wp-content/uploads/2020/04/logo-registering-company-philippines-314x48-1.png", "https://www.3ecpa.com.ph/wp-content/uploads/2020/04/logo-registering-company-philippines-314x48-1.png", "https://www.3ecpa.com.ph/wp-content/uploads/2020/04/logo-register-company-philippines-150x126-1.png", "https://www.3ecpa.com.ph/wp-content/uploads/2020/04/logo-register-company-philippines-150x126-1.png", "https://www.3ecpa.com.ph/wp-content/uploads/2021/03/photo-philippine-peso-currency-400x300-1.jpg", "https://www.3ecpa.com.ph/wp-content/uploads/2021/03/photo-philippine-peso-currency-820x250-1.jpg", "https://www.3ecpa.com.ph/wp-content/uploads/2021/03/photo-philippine-peso-currency-820x250-1.jpg", "https://www.3ecpa.com.ph/wp-content/uploads/2020/04/logo-3e-accounting-international-90x94-1.png", "https://www.3ecpa.com.ph/wp-content/uploads/2020/04/logo-3e-accounting-international-90x94-1.png", "https://images.dmca.com/Badges/DMCA_logo-grn-btn180w.png?ID=126c5076-2457-493a-926b-b37bdd8c528f", "https://images.dmca.com/Badges/DMCA_logo-grn-btn180w.png?ID=126c5076-2457-493a-926b-b37bdd8c528f", "https://www.3ecpa.com.ph/wp-content/uploads/2023/12/icon-contact-us-150x150-1.png", "https://www.3ecpa.com.ph/wp-content/uploads/2023/12/icon-contact-us-150x150-1.png" ]	[]	[]	[ "" ]	null	[]	2021-03-19T09:32:00+00:00	The Philippine peso currency has proven to be resilient despite the economic slowdown prompted by the global coronavirus pandemic in 2020.	en	data:image/x-icon;base64,iVBORw0KGgoAAAANSUhEUgAAABAAAAAQEAYAAABPYyMiAAAABmJLR0T///////8JWPfcAAAACXBIWXMAAABIAAAASABGyWs+AAAAF0lEQVRIx2NgGAWjYBSMglEwCkbBSAcACBAAAeaR9cIAAAAASUVORK5CYII=	3E Accounting Firm Philippines	https://www.3ecpa.com.ph/resources/miscellaneous-topics/philippine-peso-currency/	All About the Philippine Peso Currency While it is true that money cannot buy happiness, people always use currency in almost every move: buying groceries and other essentials, paying jeepney fare, and even ordering food in restaurants. Money, such as the Philippine peso currency, is very vital for an economy to remain afloat. It allows people to spend on things they need and want, which contributes to the country’s overall gross domestic product. But what is currency? It is the paper money called bills or coins that are circulated in an economy. Economics explains that currency allows the concept of a universal store of value through instruments. Prior to this, people usually used the barter system. However, it is not as effective as the currency because not all exchanges are suitable. Let us discuss further the Philippine peso currency, its history and where it is going. The History of the Philippine Peso The regulator subdivided the Philippine peso currency into one hundred centavos. Before its formal introduction in the country, people used the barter system or trading goods during a transactional exchange. Later on, trading small gold pieces and gold barter rings became the norm that replaced this. Spaniards introduced the coins in 1521, around the time they colonized the country. These coins, however, were produced in various Spanish countries—resulting in the circulation of coins with significant inconsistencies in terms of purity and even weight. The Philippines only had its first mint established in 1861, so the coins will be standardized according to guidelines. In 1898, the Philippines gained independence from a very long regime of colonization. At the same time, the country also introduced its first local currency to replace the Spanish-Filipino peso. Unfortunately, the United States of America colonized the Philippines in 1901. These colonizers, meanwhile, introduced a new currency valued at half a dollar in 1903. This is not where the Philippine peso currency saga ended. When Japan occupied the Philippines during World War II, the Filipinos used new money in circulation. Filipinos introduced its formal currency again in 1949. This was around the establishment of the Central Bank of the Philippines. Currently, the bills are denominated in P20, P50, P100, P200, P500, and P100. Coins, meanwhile, are in denominations of P1, P5, P10, P20, 25 centavos, 10 centavos, and 5 centavos. Monetary Policy In the Philippines, the Bangko Sentral ng Pilipinas (BSP) or the Central Bank is the one responsible for crafting and enforcing the monetary policy. Monetary policy refers to the following: managing the supply and cost of money and credit in the country dictating the overall goods and service demand across the country attaining the price stability Basically, the monetary policy helps in controlling the money supply in the country to make sure that everything is in order. Too much money in the financial system means the Central Bank has to tighten the monetary policy. Why? Too much money in circulation means higher inflationary pressures, which affect purchasing power. To tighten the monetary policy, the Central Bank hikes interest rates, so there will be more savings and less spending. On the contrary, the BSP employs an expansionary move when there is too little money in the financial system. This means lower interest rates, encouraging more borrowing from banks. It could also encourage spending at the same time to boost the overall economy. Overnight repurchase rate and reverse repurchase rate are the main instruments of monetary policy that the BSP is implementing. Open market operations, the legal reserve requirements, and rediscounting complement these tools. In 2020, the Central Bank reduced such rates by a total of 200 basis points, an expansionary move, to inject additional liquidity into the economy. The BSP intended to boost consumption with a low-interest-rate environment. It targets many segments, including households, micro, small and medium entrepreneurs, and big corporates. A lower interest rate also entices clients to borrow money for personal spending or expansion plans for the part of the firms. Bills and Coins The Philippine peso currency has come along away. Given that the country is naturally rich in gold, the Filipinos used ore to create barter rings, jewel rings, and even the country’s first coin. The coins then, called Piloncitos, had a flat base bearing inscriptions of letters “MA” or “M”, which are similar to the Javanese script. This inscription created the identity of the country to the traders from China before the Spaniards colonized the Philippines. During the Spanish Regime, the mints in Mexico and Spanish colonies produced cobs or macuquinas. The Spaniards then brought these earliest forms of coins to the Philippines. These are silver coins embossed with a cross on one side and the Spanish royal coat-of-arms on the other. Called Spanish dos mundos, which translates to “two worlds,” many nations used these coins in heavy circulation from 1732 to 1772. It was known for its beauty as the coin shows twin crowned globes—which depicts Spanish rule over the Old and the New World. The Republic of the Philippines issued its own coins and paper Philippine peso currency in 1898 as it asserted independence from the Spaniards. Filipinos minted two types of two-centavo copper coins in the Malolos arsenal. Printed as the Republika Filipina Papel Moneda de Un Peso and Cinco Pesos, the Filipinos circulated one peso and five-peso notes for public use. Pedro Paterno, Mariano Limjap, and Telesforo Chuidian signed the bills by hand. However, when the Philippines surrendered to the Americans a few years later, the latter forbade the use of the said currencies. The Americans then placed a monetary system that is based on gold. The Philippine peso currency against the greenback was at the ratio of 2:1 at the time. In 1903, the US Congress gave the go signal for the Coinage Act for the country. The Central Bank establishment allowed for the “Filipinization” of the currency in the late 1960s. Filipinos circulated in the 1970s the “Ang Bagong Lipunan” (The New Society) series notes printed in the 1970s. Meanwhile, the Central Bank issued in 1983 the Flora and Fauna (Flower and Animal) coin series. A decade later, the Central Bank released new sets of coins and bills bearing its logo. It marked the new era of the Philippine peso currency. Exchange-Rate Policy The exchange rate refers to the price of a foreign currency unit compared to the domestic currency. For the case of the Philippine peso currency, it is usually compared with US dollars. In 2020, the peso traded within the P48:$1 level, which is stronger compared to the previous P50:$1 level. With the world under lockdown in 2020, imports slowed down, which meant lower demand for dollars. This resulted in a stronger Philippine peso currency. The interbank foreign exchange market determines the value of the Philippine peso currency against the Greenbank. This means the forces of supply and demand dictate the value of the Philippine peso currency. The fixed change rate system sets a par value rate between both currencies, but it may change from time to time. The Philippines currently follows a freely floating exchange rate system. This means the Central Bank relies on the exchange market to determine the Philippine peso currency’s value against foreign denominations. Deemed as an essential economic factor, the exchange rate links the local and foreign markets for various products, financial assets, and services. The Philippine Peso Today According to reports, the Philippine peso currency is currently among the strongest currencies in the Asian region. It is a significant claim considering that the pandemic affected many countries severely. The government credited this to the benign inflation rate and balance of payments surplus as foreign reserves reach an all-time high. Experts expect the consumer price growth in the Philippines to stay within the government target band in 2021. This could help in gaining a robust peso level. If there is one thing that the Philippine peso tells, a nation’s story can be told on how it adapted with the currencies through the years. The Philippine currency has indeed evolved, showing maturity in its economy.
9083	dbpedia	1	43	https://www.thecurrencyshop.com.au/guides/currency-in-the-philippines	en	Currency in the Philippines: A Full Guide 2024	https://exiap-uk-uploads…n_6f6910a1d7.png	https://exiap-uk-uploads…n_6f6910a1d7.png	[ "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=48&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=96&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=96&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=256&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=48&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=96&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=96&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=256&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fmedium_wise_7200025376.png&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fmedium_wise_7200025376.png&w=1920&q=75 2x" ]	[]	[]	[ "" ]	null	[ "Claire Millard" ]	2024-05-20T06:13:20.938000+00:00		en	https://exiap-uk-uploads…n_6f6910a1d7.png	The Currency Shop	https://www.thecurrencyshop.com.au/guides/currency-in-the-philippines	What is the currency in the Philippines? The official currency in the Philippines is the Philippine Peso, which is issued and overseen by the Bangko Sentral ng Pilipinas. If you’re buying your travel money online you may also see the official code being shown - PHP. In stores and restaurants, Philippine Peso prices are likely to use the currency symbol ₱. Once you’re in the Philippines you’ll see costs of items shown in PHP and you’ll need to start paying for things in local coins and notes which are often found in the following denominations: banknotes - 20, 50, 100, 200, 500, 1,000 and coins - 1, 5, 10, 25. Can you officially pay in AUD when you are in the Philippines? You’re unlikely to be able to officially transact in AUD in the Philippines, which is why it’s time to start getting used to PHP and learning more about the currency exchange rates so you’ll know what you’re spending on your trip. This guide will walk through all you need to know, including Australian Dollar/Philippine Peso rates and where best to get your travel money from. Philippine PesoCurrency namePhilippine PesoISO codePHPSymbol₱SubunitCentavoCentral BankBangko Sentral ng PilipinasBest travel cards to take to the PhilippinesWise Philippine Peso coins and banknotes Here’s a full rundown of the PHP coins and banknotes you’ll need to be familiar with when you’re in the Philippines. PHP banknotesPHP coins20, 50, 100, 200, 500, 1,0001, 5, 10, 25 Is AUD accepted in the Philippines? As we’ve seen, the official currency in the Philippines is PHP. If you carry Australian Dollars with you on your trip, you’ll probably need to exchange it before you can spend. Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies. However, the chances are that where this is offered, you won’t get a good exchange rate for your AUD. Planning smart and convenient ways to spend in PHP when you’re away is likely to mean you save on costs in the end. Usually, having a few different ways to pay and get cash is the best option for travellers and tourists. That’s because you’ll have a back up plan in case one payment method isn’t accepted for any reason, and you can pick the method that’s best suited to the specific transaction. Having a multi-currency card from a provider like Wise, plus your normal bank debit card, and some local cash in PHP should mean you’ve always got options. You can use your cash for small purchases and tipping, and make low cost payments and cash withdrawals with your multi-currency card, while keeping your bank card in reserve for emergencies. Use a travel card on your next trip to the Philippines Using a travel debit card in the Philippines is usually cheap, safe and convenient. A few providers in Australia offer multi-currency cards which come with a linked payment account that lets you convert, hold and spend in PHP. That allows you to add a balance in AUD and switch over to PHP to lock in the exchange rate and set your travel budget. Once you have PHP in your account there are no extra fees to make payments, and you’ll not have foreign transaction charges to worry about, either. Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in the Philippines. What is the currency exchange rate for £ 1 AUD/PHP? It’s helpful to get to know the live AUD/PHP rate so you can easily calculate how much things are costing you while you’re on your trip abroad. The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies. This rate isn’t always passed on to customers. Instead you may find that the AUD/PHP rate you get when exchanging travel cash includes a markup - an extra fee. Find the AUD/PHP mid-market rate from a currency conversion site or a website like this, so you can keep an eye on the market and compare the rates you’re offered as you travel against the mid-market rate easily. Should I exchange AUD to PHP before traveling to the Philippines? It’s a good idea to exchange Australian Dollars to Philippine Peso before you head off to the Philippines, as you can often find a better exchange rate and lower overall costs before you travel. When you’re in the Philippines you may need PHP in cash for some of your spending - particularly when tipping or making smaller value purchases. Buying your PHP travel money in advance can get you better AUD/PHP exchange rates, and saves you wasting precious time shopping around for a good deal once you arrive in the Philippines. Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of travel, using a card to pay while you’re away, or converting cash on arrival. Both in Australia and in the Philippines, steer clear of exchanging currency at the airport. A captive market means that AUD/PHP rates are often worse in the airport than in city centers. Tips for exchanging money in the Philippines At merchants and ATMs, make sure you’re charged in PHP. If you’re asked if you’d rather pay in AUD instead, say no. That’s a sign of dynamic currency conversion, which usually means extra costs. Withdrawing money in target-currency can be easy, particularly in big cities and Manila, here’s a few other tips if you want to exchange money in the Philippines Avoid using exchange providers at airports or hotels in the Philippines as they usually offer pretty poor exchange rates because they have a captive market and little competition nearby Use a travel debit card like the Wise card while you’re in the Philippines for fast and cheap conversion between currencies and easy ways to manage your money from your phone Best place to exchange currency in the Philippines You can get your PHP in the Philippines in a couple of ways. You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online. Or if you prefer an offline solution you can carry some cash in AUD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city centre are likely to be cheaper overall. How to pay in the Philippines? You’ll need to have PHP to spend in the Philippines. However, generally having a few different payment methods is a good plan. That means that if a merchant won't accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen. Here are your key payment options in the Philippines. Debit or credit card Card payments can be helpful in shops, restaurants and hotels but there will be places where cash is also important. Order a travel card from a provider like Wise for cheap and fast transactions, including card payments and cash withdrawals as and when you need travel money in PHP. Philippine Peso cash You’ll usually find you can use a card to make payments in the Philippines, but carrying some cash in PHP is also reassuring. It’s often easier for tipping and making smaller purchases, plus you’ve got a nice backup if your card is ever out of action for some reason. It’s a smart idea to have both a card and some cash in PHP when you’re in the Philippines. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Consider using a travel card from a provider like Wise alongside your cash for flexibility. Paying for the trip in AUD If you’re paying for things in the Philippines with a AUD bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate. Travel debit cards don’t always work this way. When you make purchases in the Philippines using the Wise card you can either choose to convert your account balance to PHP in advance in the Wise app, or just leave your balance in Australian Dollars and let the card handle the transaction when you pay. You’ll always get the lowest available fee and there are no extra foreign transaction charges. Conclusion - Currency in the Philippines You won’t be able to pay in AUD when you visit the Philippines - so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on PHP in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging AUD to PHP, and make your money go further while you’re away. The official currency in the Philippines is PHP. You can’t usually pay in Australian Dollars in the Philippines, so you’ll need to plan in advance to get your travel money sorted. Consider ordering a travel debit card from a service like Wise, for low cost conversions to PHP and convenient spending and withdrawals - and remember that knowing the AUD to PHP mid-market exchange rate is essential to check you’re getting a fair deal on currency exchange. FAQ - Currency in the Philippines What is the currency in the Philippines called? The official currency in the Philippines is the Philippine Peso. You may also see the code PHP and the currency symbol ₱. What's the currency in Manila? The official currency in Manila is the Philippine Peso. You’ll only be able to spend in PHP while you’re there. What is the old the Philippines currency? Today the currency in the Philippines is the Philippine Peso. If you’re worried about currencies changing, why not get a travel debit card from a service like Wise which will automatically pick the currency needed in your destination when making a payment - with no penalties or inflated fees. What is the best currency to take to the Philippines? You’ll only be able to spend in PHP while you’re in the Philippines. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.
9083	dbpedia	2	16	https://www.rcbc.com/how-much-is-the-exchange-rate-of-peso-to-dollar	en	A Historical Look at the Exchange Rate between the USD and PHP	https://www.rcbc.com/upl…tory_desktop.jpg	https://www.rcbc.com/upl…tory_desktop.jpg	[ "https://www.facebook.com/tr?id=715728909732212&ev=PageView&noscript=1", "https://www.facebook.com/tr?id=1170602473590418&ev=PageView&noscript=1", "https://www.rcbc.com/uploads/media/logo-rcbc.png", "https://www.rcbc.com/uploads/media/forex-history_desktop.jpg", "https://www.rcbc.com/assets/public/images/icons/icon-fb.png", "https://www.rcbc.com/assets/public/images/icons/icon-instagram.png", "https://www.rcbc.com/assets/public/images/icons/icon-twitter.png", "https://www.rcbc.com/assets/public/images/icons/icon-linkedin-plain-article.png", "https://www.rcbc.com/assets/public/images/pixel.png", "https://www.rcbc.com/assets/public/images/pixel.png", "https://www.rcbc.com/assets/public/images/pixel.png", "https://www.rcbc.com/assets/public/images/pixel.png", "https://www.rcbc.com/assets/public/images/pixel.png" ]	[]	[]	[ "" ]	null	[]	null	Learn about the intricacies of the USD-PHP exchange rate. Understand the implications of fluctuations and trends from past to present.	en	/assets/public/images/favicon.png		https://www.rcbc.com/how-much-is-the-exchange-rate-of-peso-to-dollar	The exchange rate between the United States Dollar (USD) and the Philippine Peso (PHP) is not just a mere numerical figure. It holds a deeper significance, serving as a window into the intertwined economic histories of both nations. Exploring this exchange rate unveils a treasure trove of insights into the economic interplay between these two countries, revealing the factors that have shaped their financial dynamics over the years. Join us as well delve into this fascinating world of fluctuations and trends, analyze what the exchange rate between dollar to peso is, and unlock a comprehensive understanding of the economic landscape of the Philippines. Understanding the Exchange Rate Before we begin, it is essential to first understand what an exchange rate is. In simple terms, an exchange rate refers to the value of one currency in relation to another. It determines how much of one currency you can buy with a certain amount of another currency. For example, if the current USD to PHP exchange rate is 1 USD to 50 PHP, it means that you can buy 50 PHP with one US dollar. The exchange rate is influenced by various factors such as interest rates, inflation, trading activities, political stability, and economic policies. These factors contribute to the fluctuations of the exchange rate over time. A Brief History of the USD to PHP Exchange Rate To grasp the current exchange rate, it's essential to delve into the roots of currency exchange. Post-World War II, in 1945, the USD to PHP exchange rate was relatively stable. The Philippines had just gained independence from American colonial rule, and its economic framework was in its infancy. The Bretton Woods Agreement, established in 1944, pegged various currencies, including the USD, to gold, creating a sense of stability in the international monetary system. However, this stability was short-lived. By the 1960s, economic tides were changing globally, and the USD started floating freely against other currencies. The Philippines, like many other nations, found itself adapting to this new paradigm. The exchange rate dynamics began to reflect not just local economic conditions but also the shifting global economic landscape. The Impact of Economic Policies The USD to PHP exchange rate has also been significantly influenced by the economic policies implemented by both countries. During the Marcos regime in the 1970s and 1980s, the Philippines adopted a pegged exchange rate system, where the peso was fixed at a specific value against the USD. However, this system proved unsustainable and led to economic struggles, resulting in a debt crisis and devaluation of the peso. In contrast, the United States has historically pursued policies that have strengthened its currency. The dollar's role as the world's reserve currency gives the US significant influence over global exchange rates. For instance, decisions made by the Federal Reserve, such as interest rate adjustments, have a ripple effect on the USD to PHP exchange rate. Predicting Future Trends Over the years, the exchange rate between USD and PHP has displayed remarkable resilience, enduring economic and political challenges. Nevertheless, accurately predicting future trends is always a difficult task due to the influence of diverse factors and the potential impact of unforeseen events, such as natural disasters or political crises. That being said, understanding past trends and current economic conditions can still provide valuable insights for predicting future exchange rate movements. As the Philippines continues to grow and strengthen its economy, likely, that the peso will also increase in value against the USD. How Much is 1 Dollar in Peso and Why Exchange Rates Matter Understanding the historical journey of the USD to PHP exchange rate is a captivating endeavor that requires grasping the significance of these rates. Over the past few years, the exchange rate has remained relatively stable. For instance, the RCBC exchange rate has fluctuated between 55-57 pesos to a US dollar. These rates serve as the lifeblood of international trade, investments, and economic policies, forming the foundation for global financial transactions. With immense power, they influence the cost of imports and exports, shape inflation rates, and mold a nation's economic policies. Exchange rates have a remarkable impact on our daily lives. They shape our travel experiences, determining the affordability of trips abroad and the purchasing power of foreign currencies. Moreover, they significantly influence the cost of imported goods, which ultimately affects the prices of products in local markets. For those who rely on remittances from family members working overseas, the USD to PHP exchange rate is of utmost importance. In a country like the Philippines, where a significant portion of the population depends on remittances, fluctuations in the exchange rate can profoundly impact the day-to-day lives of many. Delving into the intricate world of exchange rates unveils valuable insights into the global financial landscape. It sheds light on the profound impact this essential element holds, influencing not only macroeconomic policies but also individual financial decisions. By truly grasping the significance and dynamics of the USD to PHP exchange rate, one gains the power to navigate the complexities of international trade and finance with finesse. This knowledge empowers us to make informed choices that can pave the way for favorable outcomes. The Bigger Picture: USD-PHP Exchange Rate and the Philippine Economy The exchange rate between USD and PHP holds immense significance, acting as a window into the vibrant economic landscape of the Philippines. It goes beyond mere numbers, providing valuable insights into the country's economic well-being and stability. When the exchange rate strengthens, indicating a rise in the value of the peso against the dollar, it signals a robust and flourishing economy. This can be attributed to a myriad of factors, including increased foreign investments, favorable trade conditions, and a thriving domestic market. Moreover, a stronger peso acts as a magnet, attracting more foreign investors and propelling further economic growth and development. On the other side, a weaker peso can signal economic hurdles like inflation and trade deficits. It may point to factors such as rising import expenses, diminished export competitiveness, or unfavorable economic policies. In such instances, the government and policymakers must proactively devise strategies to tackle these challenges and cultivate a more stable economic landscape. Over the past few decades, the Philippines has experienced a remarkable economic boom, paving the way for a stronger peso against the mighty dollar. This growth can be credited to a myriad of factors, with one shining star being the invaluable contributions of Overseas Filipino Workers (OFWs) through their hard-earned remittances. These remittances not only fuel local consumption and investment but also serve as the backbone of overall economic stability. Moreover, the booming business process outsourcing (BPO) industry has played a vital role in the country's economic triumph. The Philippines has emerged as a top choice for multinational corporations in search of affordable yet highly skilled labor to fuel their business ventures. This not only creates job opportunities but also attracts foreign exchange inflows, fortifying the peso's resilience. In addition to these crucial factors, the government's prudent economic policies have played a pivotal role in shaping the current exchange rate. These meticulously crafted and executed policies not only aim to maintain a stable and competitive currency that attracts foreign investors but also create a favorable investment climate. Through this unwavering commitment to sound economic management, the government fosters sustainable economic growth, leading to long-term prosperity for the country. This strategic approach has been instrumental in ensuring a robust and resilient exchange rate, benefiting both the domestic economy and international trade. It's an extraordinary demonstration of economic prowess and a testament to the government's dedication to fostering a thriving financial landscape. In essence, the exchange rate between USD and PHP serves as a significant gauge of the economic performance of the Philippines. It vividly reflects the country's journey—encompassing both progress and challenges—while also hinting at the immense potential for future growth. Should I Constantly Check How Much the Exchange Rate from Dollar to Peso Is? While the exchange rate between USD and PHP holds immense significance, it's not necessary to constantly check its fluctuations. The exchange rate is continuously changing, influenced by global economic factors and market conditions. Trying to keep up with these changes can be a daunting task and may even lead to unnecessary stress. However, it's essential to have a general understanding of the current exchange rate and its impact on the economy, especially for those who rely on remittances or frequently engage in international trade. Keeping yourself informed and up-to-date can help make better financial decisions and prepare for any potential changes that may affect personal finances. Taking Control: What You Can Do With a wealth of historical knowledge and a profound grasp of the USD to PHP exchange rate, you can wield your power to effectively analyze and manage the impact on their personal finances. If you engage in international trade, for instance, you need to have a keen awareness of dynamic exchange rate trends. This enables you to transform the business landscape into a strategic chess match. In this intricate game, well-informed and strategic decisions become paramount, positioning themselves at the forefront of business operations. The adept anticipation and skillful navigation of currency fluctuations not only serve to mitigate risks but also unveil opportunities for optimizing profitability. Furthermore, as an everyday consumer, you also need to be mindful of the ever-changing exchange rate dynamics. This awareness is key for effective planning and budgeting. Fluctuations in the exchange rate can directly impact the prices of imported goods, travel expenses, and even remittances from abroad. By staying tuned to these shifts, you can adapt your spending habits accordingly and make informed financial choices. In our modern interconnected world, financial literacy holds the key to empowerment. It presents you with a remarkable opportunity to safeguard your finances against the volatile fluctuations of exchange rates. By diversifying investments through opening a foreign currency deposit account, staying informed about economic trends, and seeking expert advice, you can navigate the intricate landscape of international finance with confidence and prudence. The USD to PHP exchange rate remains a critical element in navigating the ever-evolving global financial landscape. It serves as a powerful tool for understanding and analyzing the economic conditions of the Philippines while also holding immense potential for shaping individual financial outcomes. By staying informed, taking proactive measures, and leveraging their knowledge, you can benefit from this dynamic exchange rate and pave the way toward a brighter financial future.
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Maybe you plan to travel to Southeast Asia sometime soon and want local cash when you arrive. Or maybe you need to send money home to your parents or friends. Regardless of your reason, there are many ways to buy Philippine pesos or wire money abroad. But Philippine currency is more than just local money: It’s also a part of the nation’s history. Keep reading for more information on Philippine currency, including its history, interesting facts, and how to get the best Philippine peso rates. An introduction to Philippine currency: The peso Printed by the Central Bank of the Philippines, or Bangko Sentral ng Pilipinas, the Philippine peso, locally called the piso in Tagalog, is the national currency of the Philippines. A peso is divided into 100 sentimos, similar to how one U.S. dollar (USD) divides into 100 cents. If you’re unfamiliar with the Philippine currency, here are some quick facts about the peso: Currency code: PHP Abbreviation: ₱ Coin denominations: 1, 5, 10, 20 pesos and 1, 5, 10, and 25 sentimos Banknotes: 20, 50, 100, 200, 500, 1,000 History of the Philippine peso Like the United States dollar and several Latin American currencies, the modern-day Philippine currency originally came from the Spanish peso. But before the Spanish introduced the peso, Philippine communities used gold bits, a currency known as salapi, or the rupya, silver coins from India and Indonesia. Even after the Spanish peso became the primary currency in 1565, island residents continued using the salapi, which the Spaniards branded as a half-peso coin. Although the Spanish peso underwent several changes, it remained a common currency in the Philippines until the early 1900s. Everything changed in 1898, though, when the Philippines achieved independence from Spain. During this time, the new government introduced the centavo coin, which would become a subdivision of the peso. While the centavo coin is used today as sentimo, it temporarily fell out of use during the American colonial period. But after two world wars and Japanese occupation, the Philippines regained its independence in 1946. The Central Bank of the Philippines, now called the Bangko Sentral ng Pilipinas, was founded in 1949 and took over the responsibility of designing and printing a new Philippine currency, the modern peso. The Philippine peso exchange rate explained At the time of writing in May 2022, 1 USD equals around 52 PHP. For the last 180 days, according to OANDA’s historical rate charts, the exchange rate hovered between 1:49 and 1:52. Why is there such a gap between these two currencies? It comes down to the differences between the government and economies of the United States and the Philippines. Several factors can affect the trading value of a currency, including: Trade relations Economic growth Government stability and freedom Demand Since the United States dollar is generally more stable and in greater demand than the Filipino peso, it tends to be valued more highly in the global currency market. However, this isn’t true for the peso in all markets. The difference is much less between other common currency pairs, like the Malaysian ringgit (1 ringgit equals around 12 PHP) and the Saudi Arabian riyal (1 riyal equals almost 14 PHP) at the time of writing. Meanwhile, if you want to trade your Filipino pesos for Indonesian rupiah (IDR), you’ll have a better rate, with 1 PHP equaling around 277 IDR at the time of writing. Here are some of the current conversion rates between other global currencies and the peso: 1 Swiss franc (CHF) = 53 pesos 1 pound sterling (GBP) = 65 pesos 1 Australian dollar (AUD) = 37 pesos 1 Hong Kong dollar (HKD) = 7 pesos 1 United Arab Emirates dirham (AED) = 14 pesos 1 Japanese yen (JPY) = 0.5 peso 5 facts you might not know about the Philippine peso The peso has a long and storied history in the Philippines. After nearly 500 years of circulation, there are so many interesting facts about the Philippine currency, but these are our top five. 1. The Philippine currency comes from the Spanish “Real of 8” The peso came from the Spanish dollar or the “Real of 8,” which was a silver coinage. The Spanish “Real of 8” came in 1/2-, 1-, 2-, 4- and 8-real coins and was recognized across the globe. 2. Filipino pesos used to be tied to gold and the U.S. dollar When the United States still held control of the Philippines, it passed the Philippine Coinage Act of 1903. This tied the value of the peso to a gold coin, which was worth half of one U.S. dollar. After achieving its independence in 1946, the Philippines dropped this standard. 3. There used to be a subset of the Philippine peso called Culion currency In 1906, the island government minted separate pesos for those suffering from leprosy in the Culion colony. At the time, the government mistakenly believed that leprosy could be transmitted through exchanging money. Although printed in Manila, the Culion currency was prohibited outside of the colony for fear of spreading disease. 4. During WWII, special pesos were printed to undermine Japanese occupation Known as “guerrilla pesos,” this currency was used by the local government to defy Japanese occupiers, who attempted to circulate their own version of the peso. In fact, until 1944, it was illegal to possess or use guerrilla pesos. 5. An error in 2005 created rare peso notes for collectors About 78 million 100-peso notes printed in the early 2000s had a major typography error: President Gloria Macapagal Arroyo’s surname was misspelled as “Arrovo.” Only 2 million of these notes ended up in circulation, but today, they’re considered a rarity for currency collectors. Currency converter for the Philippine peso Planning to visit the Philippines? You can find current PHP exchange rates in the Remitly app or on our website if you need to calculate how your currency will convert. You have a few options for converting your money into Philippine currency, but each comes with pros and cons. Whichever route you choose, be sure to plan ahead of your visit so you have enough cash for your stay. Exchange money at the airport: Airport exchanges are convenient, but they can be pricey. Take out pesos from an ATM: ATMs are easy to use in major population centers, but they come with international transfer fees, and they’re hard to find outside of the Philippines’ main cities. Order pesos from your local bank before you arrive: This option can help you avoid pricey fees once you land in the Philippines, but there’s always a danger to traveling with a lot of cash. Plus, you’re only legally allowed to bring 10,000 pesos into the country (currently less than $200 USD). Use your credit cards: Credit cards are generally accepted in major tourist destinations and cities like Manila, Cebu, and Boracay. But you’ll want cash in most other areas. Buy pesos at a foreign exchange counter at an SM Mall: Usually, SM Mall or department store branches in the Philippines have a foreign exchange counter where you can buy pesos. To do this, you’ll want to use crisp, new USD. Additionally, you should request 500 peso notes or less. Larger bills, like the 1,000 note, are often harder to break. Send money to the Philippines Maybe you don’t want quick cash for a tourist trip, and instead, you need to send Philippine currency to friends or family. Or perhaps you plan to stay in the country for an extended period and need a reliable method for transferring money before you leave. In both cases, you may also need to send large sums of money. And the last thing you want to do is pay hundreds of pesos in fees. International money transfer apps like Remitly make it easier to send money quickly and affordably to the Philippines. We offer a flat, transparent fee when sending to the Philippines from the U.S., which at the time of writing goes down to zero when you send $1,000 or more using your debit card. Not only that, but your loved ones can receive the money in a variety of ways. Send money to a Filipino bank account, a mobile wallet account like GCash, or pick up cash from thousands of locations around the country.
9083	dbpedia	2	57	https://currencymart.net/currency/philippine-peso/index.html	en	Everything You Need to Know About Philippine Peso (PHP)	https://currencymart.net…nknotesCover.jpg	https://currencymart.net…nknotesCover.jpg	[ "https://currencymart.net/images/blog/currency-mart-logo.png", "https://currencymart.net/images/articles/philippine-peso/img-cdo4sEOo7RcUphsRhFnsxUrK.webp", "https://currencymart.net/images/articles/philippine-peso/img-v2lTKzi1izkXWrwWBDtWInc5.webp", "https://currencymart.net/images/articles/philippine-peso/img-InJevgNIqRGuyUGaB3YpPGZt.webp", "https://currencymart.net/images/articles/philippine-peso/img-xUJ5Y5GJE5nmSQvldp5jxZMx.webp", "https://currencymart.net/images/articles/philippine-peso/img-mBOOfnkHNw8oCrcBVwQKn98n.webp", "https://currencymart.net/images/articles/philippine-peso/img-jUkO2PH4RAzFmEFNUc7aI6Rv.webp" ]	[]	[]	[ "Philippine Peso", "PHP" ]	null	[ "Currency Mart Inc" ]	null	Everything You Need to Know About Philippine Peso	en		Currency Mart Inc.	https://currencymart.net/currency/philippine-peso/index.html	Exchange Rate Show reference interbank exchange rate of all available currencies Check
9083	dbpedia	1	1	https://www.investopedia.com/terms/forex/p/php-philippine-peso.asp	en	Philippine Peso (PHP): Definition, History, Exchange Rate Range	https://www.investopedia…effb2a84447b.jpg	https://www.investopedia…effb2a84447b.jpg	[ "https://www.investopedia.com/thmb/Ux7wbjSzZb-REn-qiyQ503VEOO4=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/cory1__cory_mitchell-5bfc262946e0fb005118b3b7.jpg 90w", "https://www.investopedia.com/thmb/JdsG0WLiV-8vRKpZDiW9tuSwETU=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/cory1__cory_mitchell-5bfc262946e0fb005118b3b7.jpg", "https://www.investopedia.com/thmb/B4M0Zvybvo5p6rfdABF174fwHFc=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1307216531-34795d28d620481dbc4987ec86eb9663.jpg", "https://www.investopedia.com/thmb/B4M0Zvybvo5p6rfdABF174fwHFc=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1307216531-34795d28d620481dbc4987ec86eb9663.jpg", "https://www.investopedia.com/thmb/KwJtr4XoM2zXaCeWEhcbjsk7RKI=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-513690100-d8ac59f6ea0c4612a5b502add64109a8.jpg", "https://www.investopedia.com/thmb/KwJtr4XoM2zXaCeWEhcbjsk7RKI=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-513690100-d8ac59f6ea0c4612a5b502add64109a8.jpg", "https://www.investopedia.com/thmb/UkbYsEITI6mkQ1XMQtg8HgB5gts=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex7-5bfc2b9146e0fb0026016f99.jpg", "https://www.investopedia.com/thmb/UkbYsEITI6mkQ1XMQtg8HgB5gts=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex7-5bfc2b9146e0fb0026016f99.jpg", "https://www.investopedia.com/thmb/qtni-BOZrojQnFFNKTkn01YNt98=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex15-5bfc2b9146e0fb00265beb5b.jpg", "https://www.investopedia.com/thmb/qtni-BOZrojQnFFNKTkn01YNt98=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex15-5bfc2b9146e0fb00265beb5b.jpg", "https://www.investopedia.com/thmb/PFcW4lPjba1feLz9TqA_dNxqh60=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-674934605-97030fbff2364e03a8600f21cc897ce2.jpg", "https://www.investopedia.com/thmb/PFcW4lPjba1feLz9TqA_dNxqh60=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-674934605-97030fbff2364e03a8600f21cc897ce2.jpg", "https://www.investopedia.com/thmb/51y37zudm_JkYEvOOAKBJ-jZ_x0=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/126879914-5bfc2b9546e0fb00517be12d.jpg", "https://www.investopedia.com/thmb/51y37zudm_JkYEvOOAKBJ-jZ_x0=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/126879914-5bfc2b9546e0fb00517be12d.jpg", "https://privacy-policy.truste.com/privacy-seal/seal?rid=f8e1238d-6371-460f-8ea0-1b8cad9e9c4b" ]	[]	[]	[ "" ]	null	[ "Cory Mitchell", "www.facebook.com" ]	2008-06-30T13:00:00-04:00	The Philippine peso, abbreviated as PHP in foreign exchange markets, is the national currency of the Philippines. Learn the history of the PHP.	en	/favicon.ico	Investopedia	https://www.investopedia.com/terms/forex/p/php-philippine-peso.asp	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. The Philippine peso is made up of 100 cents or "sentimos" and is often represented with the symbol ₱. As of Jan. 9, 2022, one U.S. dollar was equal to 51.38 PHP. Over the past five years, its value has ranged from lows below 48 pesos to a dollar to a high of 53.89 in late 2018. Understanding the Philippine Peso (PHP) The southeast Asian archipelago now known as the Republic of the Philippines was under Spanish rule for 333 years and under U.S. rule for 48 years. It was occupied by Japan from early 1942 until Sept. 2, 1945, when World War II ended with Japan's surrender to the Allied forces. The independent Republic of the Philippines was created in 1946. English and Filipino are the official languages. Colonial Rule of the Philippines The country briefly gained its independence in 1899 after a revolution against Spanish rule led to the creation of the First Philippine Republic. The Republic was short-lived. By 1901, the United States had annexed the Philippines as part of the treaty with Spain that ended the Spanish-American War. The U..S. sent in military forces to defend its claim to the Philippines against the nation's nationalists, resulting in the three-year-long Philippine-American War. By 1901, the first coins and paper money issued by the Philippine government had gone out of circulation. The U.S. then established a Philippine currency that was pegged to the price of gold, and was at that time worth about half the price of a U.S. dollar (USD). The peg of ₱2/USD lasted until the country achieved independence in 1946. The Republic of the Philippines The Central Bank of the Philippines was created in 1949, and through the 1950s it strove to maintain the 2:1 peg with the USD. This became impossible as a black market for pesos started outside of the fixed system, where the ₱ routinely traded at 3:1. The currency was devalued to ₱3.90/USD, and in 1970 was devalued again to ₱6.43/USD. While the country struggled to stabilize the exchange rate, the currency continued to devalue. In 1983, it traded near ₱11/USD and by 1986 it was near ₱20/USD. The New Central Bank Act of 1993 set the Philippine peso on a path to being a free-floating currency. While this allowed the exchange rate to become substantially higher than the earlier pegged levels, it brought stability to the currency. The black market for the currency (which nearly always reflected a lower value of the ₱ than official channels) ceased to exist. Example of a U.S. Dollar/Philippine Peso Quote Assume a couple from the U.S. is heading to the Philippines for a holiday. They need to buy some Philippine pesos (PHP) for their trip. Since the exchange rate is free-floating, the rate will change by the day, and even by the minute. Assume that the travelers check the current exchange rate and it is 52.27 USD/PHP. That means that the couple should expect to get somewhere close to 52.27 PHP for one USD. Forex Rates vs. Real Exchange Rates While this quoted rate on currency websites is the last trade value (or sometimes the current bid value), our couple will not be able to get that rate when exchanging physical currency. Currency exchanges and banks typically charge a 3% to 5% fee for exchanging cash, and factor that into the exchange rate. Therefore, for each USD the couple may only get ₱50.70 or ₱49.65. If the couple wants ₱50,000 at a rate of 52.27, they would need $956.57. But if the currency exchange factors a 5% charge into their rate, they offer 49.65 and the travelers need $1,007.05 to get the same ₱50,000. When our travelers return, they may have some Philippine pesos they want to convert back to U.S. dollars. Let's say they have ₱5,000. Assume the exchange rate is still the same at 52.27, but remember that banks and currency exchanges typically take 3% to 5% on both sides of the transaction. Instead of only charging 52.27 for each USD, they are going to charge 53.84 to 54.88. That means that ₱5,000 won't buy as many USDs. At 52.27, ₱5,000 converts to $95.66. But at 54.88, it only converts to $91.11, which is about 5% less. The Bottom Line The value of the Philippine peso declined in 2021 and is projected to decline further in 2022. The aura of economic uncertainty surrounding the COVID-19 pandemic and the government's response to it has helped to depress its value against the U.S. dollar. Its fluctuations are a problem for the millions of expatriates from the Philippines who work abroad and send money home to their families.
9083	dbpedia	0	81	https://www.travelmoney.co.nz/exchange-rate/php	en	NZD to PHP Exchange Rate			[ "https://www.travelmoney.co.nz/sites/all/modules/custom/fcl_media/assets/blanky.gif", "https://www.travelmoney.co.nz/sites/v1.travelmoney.co.nz/themes/custom/fcl_tmnz/logo-footer.png", "https://www.travelmoney.co.nz/sites/v1.travelmoneyoz.com/files/Flight_Centre_Brand-Black.png" ]	[]	[]	[ "" ]	null	[]	null	Get the best NZD to PHP exchange rate with Travel Money NZ. Use our currency chart to view historical rates, then order online or head to any of our 20+ stores across New Zealand to purchase your Philippine peso – with no fees or commissions! View rates for NZD to PHP now.	en	https://www.travelmoney.co.nz/sites/v1.travelmoney.co.nz/files/favicon_0.ico		https://www.travelmoney.co.nz/exchange-rate/php	Facts about the currency The smallest currency unit is called ‘centavo’ in Philippine English. Following the adoption of the “Pilipino series” in 1967, it became officially known as “sentimo” in Filipino. In 2009, Bangko Sentral ng Pilipinas (BSP) announced that it had launched a massive redesign for current banknotes and coins to further enhance security features and improve durability. In the 1950s, the exchange rate was 2 pesos against the US dollar. The fluctuating free rate was abolished in 1965 and several devaluations followed. A 10% service charge is automatically added to the bill at some restaurants, but leaving a little extra tip is always appreciated. Travellers entering the Philippines are limited to taking up to 10,000 pesos without prior authority from the Bangko Sentral ng Pilipinas (the central bank of the Philippines). The same restriction applies when you leave. If you’re carrying any foreign currency in excess of US 10,000, it must be declared.
9083	dbpedia	2	77	https://www.philippine-embassy.org.sg/travel-advisories/bringing-currency-into-the-philippines/	en	Bringing Currency into the Philippines			[ "https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1.png 856w, https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1-300x70.png 300w, https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1-768x179.png 768w", "https://www.philippine-embassy.org.sg/wp-content/uploads/elementor/thumbs/Untitled-design-4-qk7jrqtp85fw5frs5wmge5ubnvbellphyoev7252hc.png", "https://cdn.printfriendly.com/buttons/printfriendly-pdf-email-button-notext.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1.png 221w, https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1-150x150.png 150w" ]	[]	[]	[ "" ]	null	[]	2015-04-03T05:14:22+08:00	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral. Philippine Peso A person	en		Embassy of the Philippines in Singapore - Embassy of the Philippines in Singapore	https://www.philippine-embassy.org.sg/travel-advisories/bringing-currency-into-the-philippines/	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral. Philippine Peso A person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas. The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines. The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority. The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. 922, series of 2016, dated 23 August 2016, titled “The Amendments of the Rules on Cross-Border Transfer of Local Currency”. Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs. Foreign Currency A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines. Other monetary instruments include travellers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment. If a person wishes to bring more that the equivalent of USD 10,000, a written declaration must be made in the form of the BSP’s “Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form” which may be downloaded from http://www.bsp.gov.ph/regulations/regulations.asp?type=1&id=631. Rules on bringing Philippine of Foreign Currencies into or out of the Philippines Manual of Regulations on Foreign Exchange Transactions
9083	dbpedia	2	98	https://www.bworldonline.com/top-stories/2024/04/29/591446/peso-weakness-to-persist-analysts/	en	Peso weakness to persist — analysts	https://www.bworldonline…r-currency-2.jpg	https://www.bworldonline…r-currency-2.jpg	[ "https://www.bworldonline.com/wp-content/uploads/2021/04/bw-logo-1.png", "https://www.bworldonline.com/wp-content/uploads/2021/04/BWminiblack.png", "https://www.bworldonline.com/wp-content/uploads/2021/04/bw-logo-1.png", "https://www.bworldonline.com/wp-content/uploads/2021/08/Peso-dollar-currency-2.jpg", "https://www.bworldonline.com/wp-content/uploads/2021/04/bw-logo-1.png" ]	[]	[]	[ "" ]	null	[ "CEDTyClea" ]	2024-04-29T00:00:00	THE PESO may continue to depreciate further this year amid broad dollar strength, but the Philippine central bank may not need to intervene yet, analysts said. “The peso’s recent depreciation is a concern, but it’s part of a larger global trend,” Security Bank Corp. Chief Economist Robert Dan J. Roces said in a Viber message. […]	en	https://www.bworldonline…pper-300x300.jpg	BusinessWorld Online	https://www.bworldonline.com/top-stories/2024/04/29/591446/peso-weakness-to-persist-analysts/	THE PESO may continue to depreciate further this year amid broad dollar strength, but the Philippine central bank may not need to intervene yet, analysts said. “The peso’s recent depreciation is a concern, but it’s part of a larger global trend,” Security Bank Corp. Chief Economist Robert Dan J. Roces said in a Viber message. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. on Thursday said that the local currency’s recent performance has been due to the US dollar’s strength rather than the peso’s weakness. He cited escalating tensions from the Middle East that led to “safe haven flows into the US dollar at the expense of most other currencies.” The local unit closed at P57.71 against the dollar on Friday, strengthening by seven centavos from its P57.78 finish on Thursday. Its close on Thursday was its weakest finish in more than 17 months or since the P58.19 close on Nov. 10, 2022. Year to date, the local unit depreciated by P2.34 from its P55.37 finish on Dec. 29, 2023. “We already predicted last year that the peso-dollar exchange rate would reach P58 in 2024,” De La Salle University School of Economics professor Jesus Felipe said in an e-mail. Mr. Felipe said that the peso will likely stay in the P57-to-P58 range this year. Latest Development Budget Coordination Committee assumptions show that the peso may range from P55 to P57 for 2024. The exchange rate is also directly affected by the current account balance, ratio of Philippine export prices to world import prices and the current policy rate, Mr. Felipe said. Ateneo de Manila economics professor Leonardo A. Lanzona said the US dollar’s recent strength is also due to the strong performance of the US economy. “Unless the Philippine economy matches with the US economic growth, the value of the peso will continue to decline. Now, this is not necessarily bad for the economy because it incentivizes greater exports,” he said in an e-mail. INTERVENTION? Mr. Remolona has said that the central bank “stands ready” to defend the currency if needed, after the peso closed at its weakest level in nearly 17 months against the dollar on Thursday. “Nonetheless, the BSP continues to monitor the market and stands ready to manage any unnecessary movement and excessive volatility,” he said on Thursday evening. In October 2022, the peso reached a record low of P59 against the dollar. This added to inflationary pressures and prompted the BSP to intervene in the foreign exchange (forex) market and raised interest rates. Mr. Remolona also said that the BSP allows adjustments to happen unless the forex movements are “very sharp.” Enrico P. Villanueva, a senior lecturer at the University of the Philippines Los Baños Economics Department, said that the BSP is correct to allow forex adjustments to happen. “It is BSP’s mandate to ensure financial stability, but not dictate or control the level of the exchange rate of peso against dollar,” he said via Facebook Messenger. Mr. Felipe also noted that the BSP is unlikely to intervene. “Not at this level and as long as movements are very smooth,” he added. The BSP would intervene if necessary to maintain stability, Mr. Roces said. “Although, what these interventions are remain vague, based on the recent gross international reserves (GIR) we have ample external cover for this,” he said. “As such, recent movements have been market driven and there aren’t any inherent weakness in the peso. The main catalyst has been the signal out of the US Fed about the need to maintain elevated rates for longer, and likely a knee-jerk reaction regionally following Indonesia’s surprise rate hike,” he added. Policy makers at the US Federal Reserve have signaled that they are not rushing to cut rates anytime soon due to persistent inflation. The Fed is set to have its next meeting this week (April 30-May 1). Mr. Remolona earlier said that the peso’s recent drop has been due to signals of policy easing delays by the Fed. He also said that the peso weakness is unlikely to impact the BSP’s monetary decisions. Finance Secretary Ralph G. Recto also said last week that the peso depreciation is not enough reason to raise rates. From May 2022 to October, the Monetary Board has hiked borrowing costs by 450 basis points to bring the benchmark rate to a near 17-year high of 6.5%. At its April meeting, the BSP stood pat for a fourth straight meeting.
9083	dbpedia	2	20	https://opinion.inquirer.net/173142/the-sliding-peso	en	The sliding peso	https://opinion.inquirer…-12March2024.jpg	https://opinion.inquirer…-12March2024.jpg	[ "https://www.facebook.com/tr?id=607491687857238&ev=PageView&noscript=1", "https://opinion.inquirer.net/inq2016/nav2022/images/twok-menu.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/inq2016.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/paper.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/twok-search.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/inq2016-blue.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/inq-close.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/fb-exp.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/twitter-exp.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/yt-exp.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/ig-exp.svg", "https://opinion.inquirer.net/inq2016/nav2022/images/tiktok-exp.svg", "https://opinion.inquirer.net/files/2024/04/The-sliding-peso-23April2024-620x620.jpg", "https://www.inquirer.net/wp-content/uploads/2022/07/PDI-P20-300x105-1.jpg", "https://opinion.inquirer.net/single2017/images/sm_share_fb.svg", "https://opinion.inquirer.net/single2017/images/sm_share_fb.svg", "https://opinion.inquirer.net/single2017/images/sm_share_twt.svg", "https://opinion.inquirer.net/single2017/images/sm_share_twt.svg", "https://opinion.inquirer.net/single2017/images/sm-share-email2.svg", "https://opinion.inquirer.net/single2017/images/sm-share-email2.svg", "https://opinion.inquirer.net/single2017/images/sm_share_bookmark.svg", "https://opinion.inquirer.net/single2017/images/sm_share_bookmark.svg" ]	[]	[]	[ "" ]	null	[ "Cielito F. Habito" ]	2024-04-23T04:35:00	Last weekend, the peso-dollar exchange rate was P57.57. Just a week before, it was one peso less (P56.57). A month before that, it was nearly another peso	en	https://opinion.inquirer.net/icon/images/favicon.ico	INQUIRER.net	https://opinion.inquirer.net/173142/the-sliding-peso	Last weekend, the peso-dollar exchange rate was P57.57. Just a week before, it was one peso less (P56.57). A month before that, it was nearly another peso less (P55.61). That’s 3.5 percent of value lost by our currency in a span of five weeks, fast enough to worry many of us. This is also the highest the exchange rate has been since peaking at P59 in October 2022. It seems we are seeing yet another episode of “dollar diarrhea,” which I last wrote about at that time our exchange rate reached its record high (“Dollar diarrhea,” 10/4/22). This is bad news for those who have dollar debts to pay, including government itself, and importers who must shell out more pesos for their purchases abroad. It’s also bad news for those traveling abroad who must buy foreign exchange to fund their travels. But it’s good news to those who earn dollars and other foreign currencies, like exporters and overseas Filipino workers, but also for producers for the domestic market, whose competing imports become more expensive and less desirable. It’s also good news for our tourism sector, as more foreigners are attracted to visit us as their dollars go a longer way when spent here. Currency movements are primarily influenced by sentiments and expectations of those who buy and sell dollars (and other foreign currencies) in our economy, especially businesses and investors, driving supply and demand, hence the price, of dollars. These expectations are in turn based on business and economic prospects as affected by events and factors that could impact economic activity. These factors may either be deliberate, through policies and actions by governments and central banks or due to external events beyond domestic control. The latter are exemplified by recent geopolitical disturbances like the Russia-Ukraine war, escalating hostilities in the Middle East, and rising tensions surrounding our territorial conflict with China, all of which some fear could trigger World War III. Why has the value of the peso fallen so steeply lately? Analysts point out that the depreciation of our peso has not been unique, as it simply moves together with other currencies in the region, all affected by a stronger dollar. This is because most other currencies, especially of developing economies, are closely linked to the US dollar, owing to strong trade and investment relationships with the US economy, the largest economy in the world. When the dollar strengthens or gains value as affected by actions of the US Federal Reserve Bank (Fed) on their domestic interest rates, these other currencies and ours correspondingly depreciate or lose value. So why has the dollar been getting stronger? Financial analysts point to the recent decision of the Fed to hold back on interest rate cuts that had earlier been widely anticipated worldwide. But higher than expected US inflation led it to postpone the cuts and keep interest rates high, equivalent to keeping money supply in check, the primary tool used by central banks to control inflation (that is, avoid having “too much money chasing too few goods,” a major cause of general price increases or inflation). Is this why the peso has slid rapidly in the past week? There’s apparently more to it than that. I examined the latest comparative currency movements and found that the Philippine peso slid much more steeply than the Thai baht and Malaysian ringgit in the past week, at a time the US dollar actually even weakened slightly (against the Euro, its major reference currency). While the Indonesian rupiah also fell even more steeply after the long Eid al-Fitr holiday last week, it has since reversed and their exchange rate has moved down. Analysts attribute the earlier steep slide to pent-up pressures coming from apprehensions on an inflation rate uptick and recent election results, apart from the US Fed decision. In our case, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona has already admitted that rising tensions between the Philippines and China may be raising investors’ jitters about our country—in what Bloomberg described as possibly the first official confirmation that the escalating dispute is already manifesting in the markets. Data from the Philippine Stock Exchange indeed show consistent and substantial net foreign selling since early April, with cumulative net outflows amounting to nearly P7 billion since April 3. Still, Remolona sees no reason so far to deviate from BSP’s monetary policy outlook, as they are more concerned with smoothing exchange rate volatility rather than suppressing currency market movements. “Unless the movements are very sharp, we tend to allow the adjustment to happen,” he was quoted as saying. Early this year, some pundits actually projected the peso to gain value in 2024. In unsettled times like now, forecasting exchange rates is risky business indeed.
9083	dbpedia	0	4	https://www.investopedia.com/terms/forex/p/php-philippine-peso.asp	en	Philippine Peso (PHP): Definition, History, Exchange Rate Range	https://www.investopedia…effb2a84447b.jpg	https://www.investopedia…effb2a84447b.jpg	[ "https://www.investopedia.com/thmb/Ux7wbjSzZb-REn-qiyQ503VEOO4=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/cory1__cory_mitchell-5bfc262946e0fb005118b3b7.jpg 90w", "https://www.investopedia.com/thmb/JdsG0WLiV-8vRKpZDiW9tuSwETU=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/cory1__cory_mitchell-5bfc262946e0fb005118b3b7.jpg", "https://www.investopedia.com/thmb/B4M0Zvybvo5p6rfdABF174fwHFc=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1307216531-34795d28d620481dbc4987ec86eb9663.jpg", "https://www.investopedia.com/thmb/B4M0Zvybvo5p6rfdABF174fwHFc=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1307216531-34795d28d620481dbc4987ec86eb9663.jpg", "https://www.investopedia.com/thmb/KwJtr4XoM2zXaCeWEhcbjsk7RKI=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-513690100-d8ac59f6ea0c4612a5b502add64109a8.jpg", "https://www.investopedia.com/thmb/KwJtr4XoM2zXaCeWEhcbjsk7RKI=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-513690100-d8ac59f6ea0c4612a5b502add64109a8.jpg", "https://www.investopedia.com/thmb/UkbYsEITI6mkQ1XMQtg8HgB5gts=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex7-5bfc2b9146e0fb0026016f99.jpg", "https://www.investopedia.com/thmb/UkbYsEITI6mkQ1XMQtg8HgB5gts=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex7-5bfc2b9146e0fb0026016f99.jpg", "https://www.investopedia.com/thmb/qtni-BOZrojQnFFNKTkn01YNt98=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex15-5bfc2b9146e0fb00265beb5b.jpg", "https://www.investopedia.com/thmb/qtni-BOZrojQnFFNKTkn01YNt98=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex15-5bfc2b9146e0fb00265beb5b.jpg", "https://www.investopedia.com/thmb/PFcW4lPjba1feLz9TqA_dNxqh60=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-674934605-97030fbff2364e03a8600f21cc897ce2.jpg", "https://www.investopedia.com/thmb/PFcW4lPjba1feLz9TqA_dNxqh60=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-674934605-97030fbff2364e03a8600f21cc897ce2.jpg", "https://www.investopedia.com/thmb/51y37zudm_JkYEvOOAKBJ-jZ_x0=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/126879914-5bfc2b9546e0fb00517be12d.jpg", "https://www.investopedia.com/thmb/51y37zudm_JkYEvOOAKBJ-jZ_x0=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/126879914-5bfc2b9546e0fb00517be12d.jpg", "https://privacy-policy.truste.com/privacy-seal/seal?rid=f8e1238d-6371-460f-8ea0-1b8cad9e9c4b" ]	[]	[]	[ "" ]	null	[ "Cory Mitchell", "www.facebook.com" ]	2008-06-30T13:00:00-04:00	The Philippine peso, abbreviated as PHP in foreign exchange markets, is the national currency of the Philippines. Learn the history of the PHP.	en	/favicon.ico	Investopedia	https://www.investopedia.com/terms/forex/p/php-philippine-peso.asp	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. The Philippine peso is made up of 100 cents or "sentimos" and is often represented with the symbol ₱. As of Jan. 9, 2022, one U.S. dollar was equal to 51.38 PHP. Over the past five years, its value has ranged from lows below 48 pesos to a dollar to a high of 53.89 in late 2018. Understanding the Philippine Peso (PHP) The southeast Asian archipelago now known as the Republic of the Philippines was under Spanish rule for 333 years and under U.S. rule for 48 years. It was occupied by Japan from early 1942 until Sept. 2, 1945, when World War II ended with Japan's surrender to the Allied forces. The independent Republic of the Philippines was created in 1946. English and Filipino are the official languages. Colonial Rule of the Philippines The country briefly gained its independence in 1899 after a revolution against Spanish rule led to the creation of the First Philippine Republic. The Republic was short-lived. By 1901, the United States had annexed the Philippines as part of the treaty with Spain that ended the Spanish-American War. The U..S. sent in military forces to defend its claim to the Philippines against the nation's nationalists, resulting in the three-year-long Philippine-American War. By 1901, the first coins and paper money issued by the Philippine government had gone out of circulation. The U.S. then established a Philippine currency that was pegged to the price of gold, and was at that time worth about half the price of a U.S. dollar (USD). The peg of ₱2/USD lasted until the country achieved independence in 1946. The Republic of the Philippines The Central Bank of the Philippines was created in 1949, and through the 1950s it strove to maintain the 2:1 peg with the USD. This became impossible as a black market for pesos started outside of the fixed system, where the ₱ routinely traded at 3:1. The currency was devalued to ₱3.90/USD, and in 1970 was devalued again to ₱6.43/USD. While the country struggled to stabilize the exchange rate, the currency continued to devalue. In 1983, it traded near ₱11/USD and by 1986 it was near ₱20/USD. The New Central Bank Act of 1993 set the Philippine peso on a path to being a free-floating currency. While this allowed the exchange rate to become substantially higher than the earlier pegged levels, it brought stability to the currency. The black market for the currency (which nearly always reflected a lower value of the ₱ than official channels) ceased to exist. Example of a U.S. Dollar/Philippine Peso Quote Assume a couple from the U.S. is heading to the Philippines for a holiday. They need to buy some Philippine pesos (PHP) for their trip. Since the exchange rate is free-floating, the rate will change by the day, and even by the minute. Assume that the travelers check the current exchange rate and it is 52.27 USD/PHP. That means that the couple should expect to get somewhere close to 52.27 PHP for one USD. Forex Rates vs. Real Exchange Rates While this quoted rate on currency websites is the last trade value (or sometimes the current bid value), our couple will not be able to get that rate when exchanging physical currency. Currency exchanges and banks typically charge a 3% to 5% fee for exchanging cash, and factor that into the exchange rate. Therefore, for each USD the couple may only get ₱50.70 or ₱49.65. If the couple wants ₱50,000 at a rate of 52.27, they would need $956.57. But if the currency exchange factors a 5% charge into their rate, they offer 49.65 and the travelers need $1,007.05 to get the same ₱50,000. When our travelers return, they may have some Philippine pesos they want to convert back to U.S. dollars. Let's say they have ₱5,000. Assume the exchange rate is still the same at 52.27, but remember that banks and currency exchanges typically take 3% to 5% on both sides of the transaction. Instead of only charging 52.27 for each USD, they are going to charge 53.84 to 54.88. That means that ₱5,000 won't buy as many USDs. At 52.27, ₱5,000 converts to $95.66. But at 54.88, it only converts to $91.11, which is about 5% less. The Bottom Line The value of the Philippine peso declined in 2021 and is projected to decline further in 2022. The aura of economic uncertainty surrounding the COVID-19 pandemic and the government's response to it has helped to depress its value against the U.S. dollar. Its fluctuations are a problem for the millions of expatriates from the Philippines who work abroad and send money home to their families.
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Discover the history of this vibrant Asian currency and learn the...	en	/img/apple-touch-icon.png	Culture Trip	https://theculturetrip.com/asia/philippines/articles/php-explaining-pesos-the-currency-of-the-philippines	A vibrant representation of not only the Filipino figures and natural riches they are embellished with, the ever-developing Philippine Peso has also come to represent the country’s vigorous journey through colonization and independence. From its dynamic past to what each bill can get you today, here’s everything you need to know about the Philippines’ currency. A brief history Philippine history is often broken down into the different colonial periods the country has undergone. Similarly, Philippine money through the years can also be classified according to the ruling colonial power of the time. While the islands of pre-colonial Philippines, then already active in international trade, had mediums of exchange such as cowrie shells and gold beads, it wasn’t until the Spanish Era that the country adapted paper money in the form of pesos fuertes. Decades later, a brief revolutionary period after the 1898 Declaration of Independence also brought about a short-lived revolutionary currency that was withdrawn soon after the arrival of the Americans. Under colonial American rule around the first half of the 1900s, banknotes were consistently changed from Spanish to English and the peso then was valued at half of the US dollar. And when the Japanese occupied the Philippines nearing the mid-1900s, so much money was released into circulation that the fiat peso became known as “Mickey Mouse money” for the little it could afford due to inflation. When the Central Bank of the Philippines was established in 1949, it momentarily continued an English series of banknotes until it initiated a more nationalistic currency series in the late 1960s which bore the Filipino language and the images of national heroes. This patriotic shift was the beginning of designs that led to today’s Philippine Peso. The PHP today The days of the 2:1 ratio of the Philippine Peso to the US dollar are long gone as conversion rates today sit at over ₱52 to $1, with the Philippine currency performing the worst it has in over a decade. While this slump renders the Peso weak and rather unstable, the silver lining lies in the millions of Overseas Filipino Workers (OFWs) who regularly send remittances to family back home. As OFW remittances rise in value, they continue to aid the country’s economy, sustaining and growing its domestic consumption. Notes Today there are six Filipino banknotes in circulation: the 20, 50, 100, 200 (being the least common), 500, and 1,000 peso bills. All don vibrant hues and the images of significant people and events in Philippine history, as well as those of the country’s endemic fauna, sights, and natural wonders. The bills are made of 80% cotton and 20% abaca, and possess a slightly rough texture. While they don’t vary in size, they distinctly differ in their striking colors of orange, red, purple, green, yellow, and light blue, respectively. See privacy policy. The most recent banknote design series, named the New Generation Currency, was released in 2010 and became the official series in circulation just last year, when the New Design Series, in circulation since 1985, was demonetized after June 2017. Coins Currently, coins from the previous BSP Coin Series and the recently released New Generation Currency Coin Series co-exist. The complete set of newer coins were released in March 2018 and will be formally launched in July. It consists of six coins: the 1-sentimo, 5-sentimo, 25-sentimo (cents), and the 1-piso, 5-piso, and 10-piso coins. The previous series, released in 1995 and of legal tender until otherwise announced by the central bank, had the same denominations plus a 10-sentimo coin, discontinued in the new series. Released just earlier this year, the newer set of Philippine coins have already amassed negative sentiment on social media from Filipinos disappointed by the new design. While the new coins slightly increase in size according to value, all six of them are silver and of designs so similar, people think them to be almost indistinguishable at quick glance. This can be cause for concern for Filipinos who work mostly with coins such as jeepney drivers, who often have to reach for and hand back change to passengers while driving. Similar to the new banknotes, the New Generation coins display the images of national heroes and endemic Philippine flora. People might have to get used to paying more attention to the edges when using these new coins, as this is where they differ, some with plain edges, others with reeds, and the 10-piso with some edge lettering. What will your money get you? ₱20 A 20-peso bill will always come in handy for taking public transport or getting a tasty street food fix. A common saying among tricycle or jeepney drivers and street vendors is: “Barya lang po sa umaga.” This roughly translates to a request that their passengers or customers pay in smaller denominations, especially in the mornings, when they don’t have enough change to give back if they were handed a large bill. So avoid giving your tricycle driver or kwek-kwek vendor a hard time and keep a 20 in your pocket when hitting the streets. ₱50 50 pesos can get you a full Filipino meal at a local carinderia (small eatery) or either a nice cold bottle of local San Miguel beer or tall glass of the famous halo-halo to beat the humid Philippine heat. ₱100 Take a 100 down to the nearest Jollibee and have one of their classic local favorites like a Chickenjoy meal, some Jolly Spaghetti, or a burger steak with rice. ₱200 At the beach, 200 PHP is enough to rent out a kayak for a few hours or some snorkelling gear. It could also rent a small beach cottage for a small group of friends. Or you can also take your 200 peso bill to shopping centers like Greenhills and Divisoria, bargain hard, and walk away with anything from pearl jewelry to a trendy new dress. ₱500 500 PHP, a little less than $10, can go far in the Philippines. Take a kalesa ride around Intramuros, treat yourself to a nice restaurant at a Manila mall, get a two-hour full body massage, watch a movie at a theater with La-Z-Boys and butler service … the list goes on. ₱1,000 With the country’s biggest banknote, you have enough to pay for a memorable experience. Island hop around some of the country’s finest islands, take a one-of-a-kind performance tour around historical Manila, or even score a cheap flight from one region to the next. Tips for splashing your cash While bustling Metro Manila is your typical big city with the advanced facilities expected of one, remember that when venturing out to the more rural areas of the Philippines, you might find your credit or debit cards to be quite useless. In the country’s smaller islands and villages, be prepared for the possible absence of ATM’s and establishments that take credit cards. So keep a reasonable amount of cash on hand when making trips off-the-beaten-path. Another important thing is to know when and when not to bargain. A typical misconception of Western travellers about the Philippines is that everything is and should be cheap, otherwise they are being scammed. So it’s helpful to understand that there are places for bargaining and negotiating such as tiangge stalls and roaming souvenir vendors, but that it isn’t customary in more formal establishments. If you deem a price too high, don’t automatically assume you are being cheated, and simply decline politely and walk away. There are some cases however where your safest bet is firmly agreeing on a price beforehand, such as with public transport like tricycles or casual local guides. Before using their services, make sure you’ve both decided on a price to avoid any disputes at the end of the trip. And finally, try to make a local friend—they will know where and how you can make the most of your cash. As the saying goes: “Do as the locals do.” This isn’t only a matter of cultural immersion but also of spending your money where it’s worth it. Filipinos love to eat, shop, and have fun, but they’re also great at spending as little as possible while they’re at it. So get in on local favorites, be it with food or shopping, and you can be sure to get a bang for your Philippine buck.
9083	dbpedia	0	54	https://asia.nikkei.com/Business/Markets/Currencies/Philippine-peso-falls-to-18-month-low-against-dollar	en	Philippine peso falls to 18-month low against dollar	https://www.ft.com/__ori…s&source=nar-cms	https://www.ft.com/__ori…s&source=nar-cms	[ "https://www.facebook.com/tr?id=1076130949081971&ev=PageView&noscript=1", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F5%2F9%2F6%2F1%2F47711695-1-eng-GB%2F2017-08-14T104154Z_1569922777_RC118E092730_RTRMADP_3_PHILIPPINES-ECONOMY-PESO.JPG?width=700&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F1%2F2%2F1%2F9%2F47659121-3-eng-GB%2FCropped-17151547242022-12-30T095255Z_2020649318_RC25GY9LYHDU_RTRMADP_3_NEW-YEAR-PHILIPPINES.JPG?width=693&height=390&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F9%2F9%2F0%2F9%2F47709099-3-eng-GB%2FCropped-1716191708philippine+1.png?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F4%2F1%2F5%2F7%2F47707514-3-eng-GB%2FCropped-1716178128AP24136153285274.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F7%2F3%2F5%2F1%2F47601537-3-eng-GB%2FCropped-1713952243AP21322350622550.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F4%2F7%2F2%2F4%2F48104274-1-eng-GB%2Fphoto_SXM2024080900007394_2048x1152.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F0%2F5%2F5%2F2%2F48062550-3-eng-GB%2FCropped-1722594588photo_SXM2024073000004380.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F5%2F0%2F4%2F4%2F48094405-3-eng-GB%2FCropped-17231623122018-02-21T000000Z_5017252_RC18E6C85080_RTRMADP_3_GLOBAL-MARKETS.JPG?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://asia.nikkei.com/bundles/app/images/app-modal.png?ez" ]	[]	[]	[ "Philippine", "peso", "falls", "18-month", "low", "dollar" ]	null	[ "MASAYUKI YUDA" ]	2024-05-21T03:58:13+00:00	TOKYO -- The Philippine peso fell to its lowest point versus the dollar since November 2022, as the country's central bank shifts away from a hawkish	en	/apple-touch-icon-144x144.png?ez	Nikkei Asia	https://asia.nikkei.com/Business/Markets/Currencies/Philippine-peso-falls-to-18-month-low-against-dollar	TOKYO -- The Philippine peso fell to its lowest point versus the dollar since November 2022, as the country's central bank shifts away from a hawkish monetary policy. The peso slipped to 58.13 per dollar on Tuesday, falling past the 57.95 mark it hit April 25.
9083	dbpedia	1	18	https://gadttravel.com/blog/philippines-currency-the-philippine-peso/	en	Philippines currency – the Philippine peso	https://gadttravel.com/b…ured-Image-1.jpg	https://gadttravel.com/b…ured-Image-1.jpg	[ "https://gadttravel.com/blog/wp-content/uploads/2022/06/logo-transparent.png", "https://gadttravel.com/blog/wp-content/uploads/2020/08/francis-67x67.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/20_Pesos_Note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/50-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/100-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/200-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/500-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/1000-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/One-peso-coin.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/5-peso-coin.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/10peso-coin.jpg", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Southeast_Asia_destinations.png", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Featured_Image-1.jpg", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Featured_Image_What_to_Do-3.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/12/vietnam-family-tour-1-67x67.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/11/anh-67x67.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/09/16-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/09/1-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/08/Vietnam-weather-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/08/Vietnam-evisa-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://www.tripadvisor.com/img/cdsi/img2/branding/150_logo-11900-2.png", "https://images.dmca.com/Badges/dmca_protected_sml_120m.png?ID=877b105f-423c-41f8-b67b-90734128c3e7", "https://gadttravel.com/blog/wp-content/uploads/2022/06/logo-transparent.png" ]	[]	[]	[ "" ]	null	[ "Francis Port", "Linh Nguyen", "Ellie Nguyen" ]	2019-06-17T04:50:58+00:00	Before your trip to Philippines you are probably asking what is the Philippines currency...	en	https://gadttravel.com/b…dard-1-32x32.png	Gadt Travel	https://gadttravel.com/blog/philippines-currency-the-philippine-peso/	When you travel abroad, you should be careful to the local currency of the country you are going to. Indeed, you should have an idea of the conversion rate between the local currency of the country you are going to and the currency of the country you are coming from. Thereby, it will help you a lot to have an idea of the cost of things when you will be in this new country. Let’s have a look at the Philippines currency which is the Philippine peso or piso in Filipino. Main information The symbol of the Philippines currency is a P crossed by two lines: “₱”. This letter is coming from the first letter of the currency name: “Peso”. The official code of the Philippines currency is PHP that is referring to its name: Philippine Peso. Here are some conversion rates of the Philippine Peso with other popular currencies: $1 (USD) = ₱52 €1 (EUR) = ₱58 ¥1 (JPY) = ₱0.50 £1 (GBP) = ₱66 $1 (AUD) = ₱36 元1 (CNY) = ₱7.50 The Philippines currency is subdivided into 100 centavos such as the Euro (€) currency. Indeed, you will find 6 different types of banknotes and 7 different types of coins. You must be careful to don’t mix them up. Banknotes Twenty-peso note (₱20) The twenty-peso note is easy to recognize with its flashy orange colour. On the front side of the note you will see the Philippine President named Manuel Quezon. Quezon was the president of the Commonwealth of the Philippines between 1935 and 1944. He was the first Filipino to head a government of the entire Philippines. On the back of the note you will see natural elements such as the Banaue Rice Terraces and the palm civet. ₱20 = $0.40\|€0.34\| ¥42\|£0.30\|$0.56 (AUD)\|元2.67 Fifty-peso note (₱50) As for the twenty-peso note, the fifty-peso note is quite easy to recognize with its flashy red. On the front side of the note you will see the fourth president of the Philippines (1944-1946), named Sergio Osmeña Sr. who succeeded to Manuel Quezon. On the reverse side of the note you will also see natural elements. This time it’s the Taal Lake and the giant trevally (fish). ₱50 = $1\|€0.85\| ¥104\|£0.75\|$1.40 (AUD)\|元6.70 One hundred peso note (₱100) We stay in the flashy colours with the one hundred-note as it’s coming in purple. On the front of the note you will see the face of Manuel Roxas who was the third and last president of the Commonwealth of Philippines and the first president of the independent third Philippine Republic (1946 – 1948). On the reverse side of the note, you will see the Mayon Volcano and the whale shark. ₱100 = $2\|€1.70\| ¥208\|£1.50\|$2.80 (AUD)\|元13.40 Two hundred peso note (₱200) The ₱200 note is quite rare and used unfrequently. It’s coming in light green and is also quite flashy. On the front of the note you can see the Ninth President of the Philippines from 1961 to 1965 named Diosdado Macapagal. On the reverse side of the note you will find the Chocolate Hills as well as the Philippine Tarsier. ₱200 = $4\|€3.40\| ¥416\|£3\|$5.60 (AUD)\|元26.80 Five hundred peso note (₱500) The ₱500 note is coming in a dark yellow / orange colour. On the front of the note you can see the senator Benigno Aquino Jr. and his wife, President Corazon Aquino. On the reverse side of the note, you will see the Puerto Princesa Subterranean River National Park and the blue-napped parrot. ₱500 = $10\|€8.50\| ¥1040\|£7.50\|$14 (AUD)\|元67 One thousand peso note (₱1,000) The ₱1,000 note is the biggest note of the Philippines currency and is coming in a light blue colour. On the front side of the note you will find three people. The first one is José Abad Santos, the fifth Chief Justice of the Supreme Court of the Philippines. He was also a Commander in Chief of the Armed Forces of the Philippines during World War II. The second one is Vicente Lim, a Filipino Brigadier General and a hero during Wold War II. The third and last person is a woman called Josefa Llanes Escoda, known as a Filipino advocate of women’s suffrage. On the reverse side of the note, you will see the Tubbataha Reefs Natural Park and the South Sea pearl. ₱1,000 = $20\|€17\| ¥2080\|£15\|$28 (AUD)\|元134 Coins Philippine one-peso coin (₱1) The ₱1 coin is made from steel. On its current version (2018), you can see the face of José Rizal a Filipino Nationalist considered as a hero, on the front of the coin. On the reverse side of the coin, you can see the Waling-waling orchid as well as the logo of the Bangko Sentral ng Pilipinas. ₱1 = $0.019\|€0.017\|¥2.10\|£0.015\|$0.028 (AUD)\|元0.13 Philippine five-peso coin (₱5) As the one-peso coin, the ₱5 coin is made from steel. On the front of the coin, we can see the face of Andrés Bonifacio who was a Filipino revolutionary leader. On the reverse side of the coin we can see the Tayabak which is a Philippine vine as well as the logo of the Bangko Sentral ng Pilipinas. ₱5 = $0.095\|€0.085\|¥10.50\|£0.075\|$0.140 (AUD)\|元0.65 Philippine ten-peso coin (₱10) As for the others, the 2018 version of the ₱10 coin is made from steel. On the 2018 version, we can see on the front face of the coin, the face of Apolinario Mabini who was a Filipino revolutionary leader. On the reverse side of the coin, we can see the flower “Kapa-kapa” as well as the logo of the Bangko Sentral ng Pilipinas. ₱10 = $0.190\|€0.170\|¥21\|£0.150\|$0.280 (AUD)\|元1.30 Others It also exists coins of 1¢, 5¢, 10¢ and 25¢ but they are rarely used.
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"https://wise.com/blog-assets/img/flags/tr-ed6d5f37779af38911b0b7cb2212e30d.svg", "https://wise.com/public-resources/assets/logos/wise-personal/logo.svg", "https://wise.com/public-resources/assets/logos/wise-personal/logo.svg" ]	[]	[]	[ "" ]	null	[]	2017-01-11T00:00:00	Contributing over 10% of the nation’s GDP - tourism in the Philippines is a big deal. You can see why. The country is spread across over 7000 islands with...	en	https://wise.com/public-…onal/favicon.png	Wise	https://wise.com/us/blog/money-and-banks-in-the-philippines	Contributing over 10% of the nation’s GDP - tourism in the Philippines is a big deal. You can see why. The country is spread across over 7000 islands with awesome natural scenery that offer opportunities for diving, beach breaks and rainforest trekking. What more could you want in a vacation? To make your dream trip a reality, you're going to need some cash. This guide gives you all you need to know about the banking and currency systems in the Philippines. Find out how to get - and spend - your Philippine Pesos, so you can get on with planning your trip. Currency in the Philippines The currency used in the Philippines is the Philippine Peso. In some tourist areas you might be able to pay for goods and services using U.S. dollars and euros. However convenient this may appear to be, unfortunately the exchange rates that are applied are unlikely to be great. Make sure you know what you're getting before you agree. Characteristics of the Philippine Peso \| --- \| --- \| \| Peso Symbols & Names \| PHP, ₱ \| \| 1 PHP \| Each Peso is divided into one hundred Centavos. You might come across ‘Centavo’ spelled slightly differently (sintabo or sentabo) in some areas of the Philippines. \| \| PHP coins \| Although Centavo coins (in 1, 5, 10 and 25 Centavo denominations) are still issued, they’re rarely used. In fact, there have been campaigns to remove these coins from circulation. You will, however, see 1, 5 and 10 Peso coins more frequently used. The 5 and 10 Peso coins are quite similar in design, so watch out when you're counting out your cash. \| \| PHP banknotes \| Banknotes are issued in denominations of 20, 50, 100, 200, 500 and 1000 Pesos - although the 200 Peso note is not used so regularly. \| The banknotes used in the Philippines recently transitioned, meaning that two sets of notes were circulating with slightly different designs. By 2017, the older notes ceased to be legal, so it's best to make sure that any currency you are issued is from the new series. Exchanging currency in the Philippines Wait until you arrive in the Philippines to exchange your money It's worth doing your research before buying your pesos, as the exchange rates offered in Europe and North America are often not as good as those you’ll get on arrival. If you’re concerned about arriving in the Philippines without pesos in your pocket, then exchange a little before leaving, but don't forget to ask for a mixture of denomination notes. The first thing you’ll need your cash for will be a taxi - and drivers won’t have large amounts of change with them. Avoid exchange services in hotels and airports if you can Many people exchange some cash in the airport - but check the rates you’re offered. Exchange services at places like airports and hotels aren’t usually very favourable due to the high rental costs which are then passed onto the customer. For both convenience and a decent deal, you might be better to withdraw a small amount of cash from an ATM before exchanging the rest of your cash in town. Watch out for false claims of ‘No Fees’ - know the mid-market exchange rate so you can make a fair comparison When choosing a currency exchange service, watch out for hidden fees. Even if an exchange claims ‘Zero Commission’, they still make a profit - generally by adding it into the poor exchange rate that they offer customers. The best way to pick out the fair deals from the bad ones is to understand the mid market rate. The mid-market rate is the one used by the banks to trade currency between themselves - and this is the only real exchange rate. Tourist rates are derived from this mid market point by exchange services (who all use their own formula to come up with their individual exchange rates). The difficulty is, that the mid-market rate is constantly fluctuating, so it can be difficult to keep up with. The easiest way is to use a currency converter online which will give you the live mid-market rate when you need to check it and find out whether or not a deal is fair. Make sure your banknotes you want to exchange are clean and undamaged If you're exchanging cash once you’ve arrived, make sure the notes you take are clean and crisp. Merchants won’t accept damaged or defaced notes, and often favour larger bills if you have them. Using traveller's checks in the Philippines Many travellers have moved away from Traveller’s Checks in favour of ATM withdrawals and credit or debit card payments. In the Philippines, you might find it difficult to exchange Traveller’s Checks - and will certainly find fees added for the service. In addition, checks can’t be used as direct payment for goods and services. Most likely you’ll get more convenience and a better deal if you skip the Traveller’s Checks in favour of an alternative method of payment. Using credit cards and debit cards in the Philippines Carrying cash is a must - cards aren’t accepted by many medium and smaller businesses Card coverage in the Philippines is sporadic. Although in major cities, you’ll find that hotels and restaurants accept all major credit/debit cards, smaller businesses and those off the beaten track might not. When in doubt, it’s usually best to enquire if your card will be accepted before selecting a purchase or placing a meal order. Like many other places, however, it's important to be mindful of some of the more common card scams such as skimming. As a tourist, you're easy prey, so don’t allow your card out of your sight when paying and, when possible, use bank ATMs - especially if they’re located inside a bank lobby. Carrying cash at all times is a sensible precaution. Decline card offers to be charged in your home currency If you do choose to spend on a credit or debit card while you’re in the Philippines, you might be asked if you want to be charged in your home currency. This service is called Dynamic Currency Conversion (DCC). DCC lets you see the cost of the transaction expressed in your home currency at the point of payment. However, it’s not a good idea to use this ‘service’ as it leaves you exposed to hidden fees. The exchange rate used will be applied by the foreign bank (who has no incentive to keep you happy) and, in addition to being a poor rate, might include other fees rolled in. Always opt to pay in the local currency instead, which will then guarantee your home bank (who does have an incentive to keep you happy) is choosing the rate for you. Warn your bank that you’ll be travelling abroad It's a good idea to tell your bank you're about to take a trip to the Philippines. If you don’t, you may find that your card is abruptly blocked by anti-fraud software. ATMs in the Philippines: ATMs are widely available in the cities, especially in banks and shopping malls. However, outside of the urban areas, you might find it more difficult to track one down. Use the tools here to check out the nearest ATM to you. Visa ATM locator MasterCard ATM locator Amex ATM locator It is normal for ATMs to charge a fee in addition to anything your home bank adds. Look out for notices on the machine during the transaction. You may notice an offer to be charged for the withdrawal in your home currency. This is called DCC (explained in the previous section) and is something best avoided. For the best exchange rate, always select to be charged in local currency, when withdrawing money. Banks in the Philippines Banking in the Philippines is dominated by the five large banks listed below - but the industry is made up of dozens of retail banks and hundreds of local and savings basks which operate on a more regional basis. The larger banks below are those you’re most likely to find in the metropolitan areas. If you’re about to head to the Philippines it’s also a good idea to ask your bank at home if they work in partnership with any local banks in the Philippines. If they do, then the banking network might allow you to use ATMs at a reduced fee when making withdrawals there. These are the most common retail banks in the Philippines: Five Major Retail Banks in the Philippines BDO Unibank Metrobank Land Bank BPI (Bank of the Philippine Islands) PNB (Philippine National Bank) International Banks Operating in the Philippines HSBC Philippines Deutsche Bank Philippines ING Bank Philippines ANZ Banking Group Philippines Mizuho Bank For many travellers looking for simple access to their money abroad, using Wise can be an even better deal.
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The peso is the monetary unit of several Spanish-speaking countries in Latin America, as well as the Philippines. Originating in the Spanish Empire, the word peso translates to "weight". In most countries of the Americas, the symbol commonly known as dollar sign, "$", was originally used as an abbreviation of "pesos" and later adopted by the dollar. The dollar itself actually originated from the peso or Spanish dollar in the late 18th century. The sign "₱" is used in the Philippines. The silver peso worth eight reales was also known in English as a Spanish dollar or "piece of eight" and was widely used for international trade from the 16th to the 19th century. Main articles: Spanish dollar and Spanish real The name peso was given to the 8-real silver coin introduced in 1497, minted at 83⁄8 pesos to a Castilian mark (230.0465 grams) of silver 134/144 fine (25.56 g fine silver). It was minted in large quantities after the discovery of silver in Mexico, Peru and Bolivia in the 16th century, and immediately became a coin of worldwide importance in international trade between Europe, Asia and North America. Initially the peso was produced in Spanish Latin America in a rapid and simplified manner by cutting off a lump of silver of proper weight and fineness from the end of a silver bar, which was then flattened out and impressed by a hammer. This resulted in a crude, irregular coin called a cob in English and macuquina in Spanish. The Crown was entitled to a fifth of all gold and silver mined, the quinto real (royal fifth), and cobs were a convenient means of handling and accounting for silver. In most cases these cobs were immediately melted down by the recipient. However, some remained in circulation as currency; they were ideal candidates for clipping and counterfeiting due to their irregular shape and incomplete design. Spanish laws of 1728 and 1730 ordered the mechanization of the minting of the peso so that they would be perfectly round and have milled edges. There was a simultaneous reduction in weight and fineness to 8.5 pesos to a mark (27.064 g), 0.9167 fine or 24.809 g fine silver. This new peso became even more popular in international trade, with recipients finding it more advantageous to trade it as coined silver of known value rather than melting it into silver bullion.Later it was reduced even more. This coin was known to English colonists in North America as a piece of eight, then later on as a Spanish dollar, Spanish milled dollar, and finally as a Mexican dollar. In French, it was called a piastre and in Portuguese, a pataca or patacão. The Spanish names at various times and in various places were real de a ocho, patacón, duro, or fuerte. A final alteration in 1772 further reduced the fineness of the peso from 11/12 fine to 130/144 = 0.9028 (fine silver 24.443 g). A sample of coins at the end of the 18th century, however, confirm a fineness of only 0.896 (hence, fine silver 24.25 g); see Currency of Spanish America#Coinage of 1786. The weight of the United States dollar was defined in 1788 as 371.25 grains of fine silver (or 24.057 g) based on the average silver content of worn peso coins. The full 0.9028 fineness was restored by Mexico after its independence in 1821. While the relationship of 8 reales = $1 (or peso duro) continued in the Americas until the 19th century, Spain struggled with the issuance of reales de vellon (made of billon alloy with less than ½ silver) of various weights and finenesses starting in 1600 due to its domestic financial and monetary problems. In 1642, it first recognized a new, reduced real provincial worth only $0.10 or 10 reales/$ for use only in Spain (with the old real worth $0.125 now called real nacional and retained in Latin America). In 1686 Spain minted a coin worth 8 reales provinciales (or only $0.80, known as the peso maria or peso sencillo) which was poorly received by the people.[1] An edict made in the same year which valued the peso duro at $1 = 15 and 2/34 reales de vellon proved to be ineffective as the various reales in circulation contained even less silver. The situation was only resolved in 1837 with the peso duro fixed at $1 = 20 reales de vellon, with all prior non-standard reales demonetized. The loss of Spain's territories in the Americas and the ensuing domestic instability in the 19th century cut off the inflow of precious metals into Spain and resulted in French coinage gradually entering domestic circulation. Two subsequent decimal system reforms were attempted in 1850 (at $1 = 20 reales, each of 10 decimos or 100 centimos) and 1864 (at $1 = 2 silver escudos, each of 100 centimos) but were not fully carried out. The peso and the real were only fully retired with the introduction in 1868 of the Spanish peseta, at par with the French franc, and at the rate of $1 = 20 reales = 5 pesetas = 22.5 g of fine silver. Main article: Mexican peso The successful revolt of the Spanish colonies in America had cut off the supply of silver coin by 1820. By 1825 "...the Spanish dollar, the universal coin of three centuries, had lost its supremacy, and...its universal dominion was in process of disintegration into rival 'currency areas', chief among which was destined to be the area dominated by British sterling."[2] The Spanish dollar continued to dominate the Eastern trade, and the peso of eight reales continued to be minted in the New World. The coin was sometimes called a Republican dollar, but eventually any peso of the old Spanish eight-real standard was generally referred to as a Mexican dollar, Mexico being the most prolific producer. Mexico restored the standard of 1772, producing a coin of 27.073 g, 0.9028 fine, containing 24.441 g fine silver (the mark weight of the Mexico City mint was very slightly heavier than the standard mark of Spain). In 1869–1870, not long after adopting the metric system, Mexican mints began producing the peso of “Un Peso” denomination, popularly known as “balanza” (scales), with the same weight and fineness, but with a uniform diameter of 37 mm (making it slightly thicker than the old peso, which was slightly irregular, with a diameter of 38–40 mm). Chinese merchants rejected the new coin, discounting it by 4%–5% in favor of the old eight-real peso. Faced with this threat to her silver exports, Mexico returned to the old eight-real peso by decree of May 29, 1873, but international trade was already shifting from silver to gold, and after 1873 there was a steady decline in the international price of silver. Until 1873 the Mexican dollar would have been to all intents and purposes equal in value to the silver dollar coins of the United States north of the border, but at that time in history, the Mexican coin would have had a much greater international presence than the U.S. dollar. The great silver devaluation of 1873 caused the Mexican dollar to drop in value against the U.S. dollar, but until the beginning of the 20th century the Mexican dollar would still have been a more widely accepted coin in the Far East than the U.S. dollar. Between the 16th and 19th centuries Mexico produced well over three billion of these coins. Mexico minted the last eight-real peso in 1897, and at the beginning of the twentieth century these Mexican dollar coins were worth only 50 U.S. cents. Main article: Philippine peso The Philippine peso (Filipino: piso) is derived from the Spanish silver coin Real de a Ocho or Spanish dollar, in wide circulation in the entire America and Southeast Asia during the 17th and 18th centuries, through its use in the Spanish colonies and even in the United States and Canada. Prior to 1852 the Philippines had no currency of its own (with the exception of local copper cuartos) since pesos received from Spain and Spanish Latin America were accepted in circulation. Locally issued pesos only came about with The issuance of Philippine peso fuerte banknotes in 1852 by the Banco Español-Filipino de Isabel II (now the Bank of the Philippine Islands) The founding of the Casa de Moneda de Manila mint in 1857 and the minting of gold 1, 2 and 4 peso coins starting 1861, and The minting of 50, 20 and 10 centimo silver coins starting 1864. As with Mexican dollars, the Philippine unit was based on silver, unlike the United States and Canada where a gold standard operated. Thus, following the great silver devaluation of 1873, the Philippine peso devalued in parallel with the Mexican unit, and by the end of the 19th century, was worth half a United States dollar. The name of the currency remained unchanged despite the 1896 Philippine Revolution and the subsequent declaration of independence in 1898. Country Currency ISO 4217 code Argentina Argentine peso ARS Chile Chilean peso CLP Colombia Colombian peso COP Cuba Cuban peso CUP Dominican Republic Dominican peso DOP Mexico Mexican peso MXN Philippines Philippine peso (piso) PHP Uruguay Uruguayan peso UYU Several countries formerly used different currencies also named peso not listed here, with different value, over time. See Argentine peso#History. Country Former currency Final Year Current currency Bolivia Bolivian peso 1986 Bolivian boliviano Costa Rica Costa Rican peso 1896 Costa Rican colón Cuba Cuban convertible peso 2020 — Ecuador Ecuadorian peso 1884 United States dollar El Salvador Salvadoran peso 1919 United States dollar Bitcoin Equatorial Guinea Equatorial Guinean peso 1975 Central African CFA franc Guatemala Guatemalan peso 1925 Guatemalan quetzal Guinea-Bissau Guinea-Bissau peso 1997 West African CFA franc Honduras Honduran peso 1931 Honduran lempira Nicaragua Nicaraguan peso 1912 Nicaraguan córdoba Paraguay Paraguayan peso 1943 Paraguayan guaraní Peru Peruvian peso 1863 Peruvian sol Puerto Rico Puerto Rican peso 1900 United States dollar Spain Spanish peso 1869 Euro Venezuela Venezuelan peso 1874 Venezuelan bolívar Money portal Numismatics portal Currency of Spanish America
9083	dbpedia	3	40	https://www.oanda.com/currency-converter/en/	en	Foreign Exchange Rates	https://www.oanda.com/favicon.ico	https://www.oanda.com/favicon.ico	[ "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-60.png", "https://www.oanda.com/assets/images/business-icons/trading_colour.e605cf03b993.svg", "https://www.oanda.com/assets/images/business-icons/sfb_colour.6603e1245143.svg", "https://www.oanda.com/assets/images/business-icons/historical-currency-converter.a97b0d5892cd.svg", "https://www.oanda.com/assets/images/business-icons/exchange-rates-api.2c68b5fb640a.svg", "https://www.oanda.com/assets/images/business-icons/oanda_colour.4e08e16458b1.svg", "https://www.oanda.com/assets/images/business-icons/market-pulse_colour.06b80e4bceab.svg", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Dark_NoPadding_v0.01.height-60.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Dark_NoPadding_v0.01.height-60.png", "https://www.oanda.com/assets/images/business-icons/trading_colour.e605cf03b993.svg", "https://www.oanda.com/assets/images/business-icons/sfb_colour.6603e1245143.svg", "https://www.oanda.com/assets/images/business-icons/historical-currency-converter.a97b0d5892cd.svg", "https://www.oanda.com/assets/images/business-icons/exchange-rates-api.2c68b5fb640a.svg", "https://www.oanda.com/assets/images/business-icons/oanda_colour.4e08e16458b1.svg", "https://www.oanda.com/assets/images/business-icons/market-pulse_colour.06b80e4bceab.svg", "https://www.oanda.com/assets/images/oanda-logo-dark.6b7ab1315e0d.svg", "https://www.oanda.com/media/images/icon-12x_wzJSLw3.max-120x120.png", "https://www.oanda.com/media/images/icon-22x_Qg8VmOP.max-120x120.png", "https://www.oanda.com/media/images/icon-32x_f2hcpyY.max-120x120.png", "https://www.oanda.com/media/images/Apple_Store.height-80.png", "https://www.oanda.com/media/images/Google_Play.height-80.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-50.png", "https://www.oanda.com/media/images/Apple_Store.height-80.png", "https://www.oanda.com/media/images/Google_Play.height-80.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-50.png" ]	[]	[]	[ "" ]	null	[]	null	Use our free currency converter. Get accurate and reliable foreign exchange rates, based on OANDA Rates™.	en	/favicon.ico		https://www.oanda.com/currency-converter/en/	We have partnered with Shift to offer you a money conversion service. Our global money transfers are tailored to meet your FX payments needs. We have 212 currencies which are being used in the new currency converter. Visit this page to view the complete list. Also known as the mid-market rate, the spot rate or the real exchange rate, the interbank rate is the exchange rate used by banks and large institutions when trading large volumes of foreign currency with one another. It is not made for individuals and smaller businesses, as smaller money transfers tend to attract a higher mark-up, so that the exchange offering the service can make a profit. Currency conversion rates differ between companies as each company manipulates the interbank rate to make a profit. This is usually done on volume; the higher the volume, the closer you get to the interbank rate. We come across a lot of competitors that post interbank rates online as a bait to hook new customers, but, once customers are onboard, they change the rate drastically, not usually in the customers’ favour. Most trading happens in the UK and US market, so 8am GMT to 5pm EST, is when the market is most liquid and the difference between the bid and ask rates is minimal. Once you operate outside these hours, you can’t cover your deal with large institutions and have to pay the rate as an insurance against fluctuations from the time you book to offsetting with a partner.
9083	dbpedia	0	49	https://www.exchange-rates.org/converter/php-usd	en	PHP to USD: Convert Philippine Pesos to US Dollars	https://www.exchange-rat…-18/img/logo.svg	https://www.exchange-rat…-18/img/logo.svg	[]	[]	[]	[ "" ]	null	[]	null	Use the PHP to USD currency converter at Exchange-Rates.org for accurate and up-to-date exchange rates. Easily convert Philippine Pesos to US Dollars with real-time data.	en	https://www.exchange-rates.org/cache/2023-03-17-02-13-18/img/favicon.ico		https://www.exchange-rates.org/converter/php-usd/1	Frequently Asked Question about PHP to USD How much is 1 Philippine Peso in US Dollars? 1 Philippine Peso = 0.01765 US Dollars as of August 19, 2024 03:30 PM UTC. You can get live exchange rates between Philippine Pesos and US Dollars using exchange-rates.org, which aggregates real-time forex data from the most authoritative sources. How much is 100 Philippine Pesos in US Dollars? As of August 19, 2024 03:30 PM UTC, 100 Philippine Pesos is equivalent to 1.7651 US Dollars. The exchange rate at this time is 0.01765 US Dollars per Philippine Peso. What was the highest PHP to USD exchange rate in the last 10 years? In the last 10 years, the highest rate from Philippine Pesos to US Dollars was on January 23, 2015 when each Philippine Peso was worth 0.02276 US Dollars. When is the best time to convert PHP to USD? The PHP and USD can be traded 24x5, starting from the time markets open on Monday mornings in Sydney until they close on Fridays at 5 PM in New York. Exchange rates can fluctuate by the minute while markets are open. However, the period between 3-4 PM GMT is often a good time to convert Philippine Pesos to US Dollars because currency market liquidity and trading volume tend to be the highest during this time. Additionally, it's advisable to convert Philippine Pesos to US Dollars early in the week if you need USD urgently. Executing a trade late in the week might result in a delayed settlement until the following week, as forex markets are closed on weekends. Which is stronger, the Philippine Peso or the US Dollar? The US Dollar is currently stronger than the Philippine Peso, as 1 USD is equal to 56.654 PHP. Conversely, 1 PHP is worth 0.01765 USD. Is the Philippine Peso up or down against the US Dollar? The Philippine Peso has decreased -2.22% year-to-date against the US Dollar. Over the past 10 years, the Philippine Peso has declined -21.07% against the US Dollar. Consequently, the Philippine Peso has lost purchasing power compared to the US Dollar over the last decade. What's the best PHP to USD exchange rate today? As of August 19, 2024 03:30 PM UTC, the best PHP to USD exchange rate is 0.01765 USD. This means that for every Philippine Peso you exchange, you will receive 0.01765 US Dollars.
9083	dbpedia	2	50	https://www.bartleby.com/essay/The-Philippine-Peso%25E2%2580%2594Us-Dollar-Exchange-Rate-the-FKS8YYS8J38Q	en	The Philippine Peso—Us Dollar Exchange Rate: the Impact of...			[ "https://assets.bartleby.com/1.17/images/logos/bartleby/logo-home.svg", "https://assets.bartleby.com/1.17/images/placeholders/essay_preview.png" ]	[]	[]	[ "" ]	null	[]	null	Free Essay: INTRODUCTION The foreign exchange market is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial...				https://www.bartleby.com/essay/The-Philippine-Peso%E2%80%94Us-Dollar-Exchange-Rate-the-FKS8YYS8J38Q	INTRODUCTION The foreign exchange market is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies. (wiki.org) The exchange rate is the price of a unit of foreign currency in terms of the domestic currency. In the Philippines, for instance, the exchange rate is conventionally expressed as the value of one US dollar in peso equivalent. The value of any particular currency is determined by market forces based on trade, investment, tourism, and …show more content… Furthermore, mechanisms to allow the economy to absorb shocks that a freely floating currency entails have been the subject of recent economic discussions. (BSP, 2008) Table 1: Philippine Foreign Exchange Policy, 1949-2007 Period \| Milestones \| 3 January 1949 \| The CBP began operations. It adopted a fixed exchange rate system, pegging the peso to the US dollar at P2.00/US$1. \| December 1949 \| The CBP imposed a comprehensive system of foreign exchange controls, which included a foreign exchange allocation scheme that gave preference to export industries and the manufacturing and mining sectors, and placed restrictions on buying of foreign exchange for services-related imports. The restraints were an effective instrument in carrying out the “Filipino First” policy of the government. \| 1959 \| The Philippines achieved its first ever post-war trade surplus. \| 1962 \| The Government launched an integrated socio-economic program that almost entirely eliminated restrictions on trade and payments. \| 25 April 1960 \| The CBP launched a four-year program to dismantle the complicated system of foreign exchange controls imposed in the 1950s. The most important feature of the decontrol program was the adoption of a multiple exchange rate system which paved the way for a de facto devaluation of the peso. \| January 1962 \| All restrictions on sales of foreign exchange were eliminated. \| December 1949 \| The CBP imposed a
9083	dbpedia	2	46	https://www.camella.com.ph/php-vs-us-dollar-how-does-a-currency-weaken/	en	PhP vs. US Dollar: How does a Currency Weaken?	https://www.camella.com.…-over-Dollar.jpg	https://www.camella.com.…-over-Dollar.jpg	[ "https://px.ads.linkedin.com/collect/?pid=3749716&fmt=gif", "https://www.facebook.com/tr?id=592031865230745&ev=PageView&noscript=1", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/camella-logo-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-default.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-hover.png", "https://www.camella.com.ph/wp-content/uploads/2023/09/inquire-now-button-hover.png", "https://www.camella.com.ph/wp-content/uploads/2020/06/camellav3_logo.png", "https://www.camella.com.ph/wp-content/uploads/2020/06/camellav3_logo.png", "https://www.camella.com.ph/wp-content/uploads/2022/07/Weakening-Philippine-Peso-over-Dollar.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/07/Effects-of-Weakening-Philippine-Peso-to-the-Country.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/07/Computing-Interest-Rates.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/07/Inflation-felt-in-the-Philippines-with-Oil-Price-Hikes-Photo-from-Josh-Bersin-1024x595.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/07/Political-Environment-in-a-Country.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/07/Checking-Account-Deficits.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/07/Paying-out-Debts.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/02/house-and-lot-for-sale-in-camella-bohol.jpeg", "https://www.camella.com.ph/wp-content/uploads/2020/07/Camella_House-and-Lot-for-Sale_Freya-and-Greta-scaled.jpg", "https://www.camella.com.ph/wp-content/uploads/2024/08/Website_Camella-Homes-Series_Greta-592x444.jpg", "https://www.camella.com.ph/wp-content/uploads/2024/08/house-and-lot-for-sale-in-malvar-batangas-near-lipa-at-camella-homes-malvar-758x564-1-592x444.jpeg", "https://www.camella.com.ph/wp-content/uploads/2024/08/modern-outdoor-kitchen-with-wooden-surfaces-stainless-steel-appliances-bar-seating-spacious-dining-area-surrounded-by-lush-greenery-contemporary-design-elements-1-592x444.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/11/Building-1-Day-View-592x444.jpg", "https://www.camella.com.ph/wp-content/uploads/2023/09/CMF-new-perpectives-1-1-592x444.jpg", "https://www.camella.com.ph/wp-content/uploads/2022/09/house-and-lot-for-sale-in-general-santos-city-at-camella-trails-gensan-592x444.jpg", "https://www.camella.com.ph/wp-content/uploads/2023/10/subdivision-in-capas-tarlac-at-camella-homes-capas-592x444.jpg" ]	[]	[]	[ "" ]	null	[ "Camella" ]	2022-07-06T10:25:21+00:00	As Philippine Peso continues to plummet over US Dollar, here are some few factors that affect the currency trade.	en	https://www.camella.com.…0/06/favicon.png	Camella Homes	https://www.camella.com.ph/php-vs-us-dollar-how-does-a-currency-weaken/	On June 27, the Philippine Peso stood at PHP 55.18 per US Dollar, which has been the weakest since 2005, when the local currency closed at PHP 55.08. Rising imports, US Federal Reserve interest rate hike, and expensive global oil prices were some of the reasons why the local currency depreciated over the past weeks. According to Felipe Medalla, Governor, Bangko Sentral ng Pilipinas (BSP), that they would not defend the Philippine Peso but reduce volatility. On the other hand, Jun Neri, lead economist in the Bank of the Philippines, said that overinflation might happen if the BSP fails to control the depreciation of the Philippine Peso. How does a Weaker Peso affect the Country? A weaker peso would lead to higher prices of goods and overall inflation. Once the cost of goods increases, ordinary citizens can spend less on the same item. Once the peso depreciates against the US dollar, the currency’s purchasing power weakens. Interest rates and gas prices can increase as well. On the other hand, freelancers and Overseas Filipino Workers (OFW) benefit if the Philippine Peso depreciates. Most of these people get paid in US dollars. If the Philippine Peso is weaker, they can have more money once they convert their salary into our local currency. A weak currency can have another silver lining. Once a currency depreciates, more countries will buy goods sold in that country because of lower prices. This might lead to economic growth and an increase in profits. However, drastic currency depreciation can not only lead to inflation but can scare foreign investors investing in the country as well. So, how does a currency depreciate? How does a Currency Weaken? Interest rates One of the contributing factors to a country’s currency strength is its interest rates. To simply put it, interest rates are the amount it costs to borrow money from other countries. Higher interest rates require a bigger fee to borrow money, while lower interest rates lessen the fee and make borrowing money more available. The country’s central bank determines if they have to higher or lower the country’s interest rate for their economy. In the recent depreciation of the Philippine Peso, the Federal Reserve’s interest hike played a significant part in why the country has its lowest currency exchange after 17 years. Inflation Inflation is the increase in the price of goods and services. Other scholars define inflation as the decline of purchasing power over time. A growing economy is expected to have a moderate increase in inflation rates. However, a rapid rise in a country’s inflation can cause a price decline, low growth, and a higher unemployment rate. In the Philippines, the country’s inflation rate in June reached 6.1%, according to the Philippine Statistics Authority (PSA). The PSA added that the higher annual growth rate in the food and transport index caused increased inflation. Inflation can cause uncertainties in an economy. Political and economic environment A country’s political and economic environment is a factor in its currency. Investors may enjoy higher interest rates but also want a predictable investment. This is why currencies from politically stable nations tend to have higher demand, which is why they have higher exchange rates. Markets constantly observe a country’s economic conditions, money supply, interest rates, inflation rates, Gross Domestic Product (GDP), the real estate market, unemployment rates, and trade. If these factors show growth in the country’s economy, the demand increases, and its currency will have more value. The currency becomes less attractive to investors if a country is in the middle of global tensions. One of the best examples of these situations is the COVID-19 pandemic and the tension between Russia and Ukraine. Account deficits A deficit means that a country imports more goods and services than it exports. When a deficit happens, the government usually has to borrow money, which increases the demand for foreign currencies, and the exchange rate will go down. According to the BSP, the country is expected to have a wider deficit in 2023. The country’s account deficit is expected to reach $16.3 billion by 2022. As per BSP, the country’s account and balance are improving. In 2023, the BSP projected that the government will narrow its deficit to 3.7% of the country’s total GDP 2023. The country’s limited exposure to Russia and Ukraine stabilized its account. And yes, the country’s currency is depreciating, but OFW remittances will grow by 4% in 2022, and the country’s gross international reserves are predicted to reach $108 billion. Public debt Overseas debt is not the sole reason why a country’s currency depreciates. Fluctuation can also happen if the government uses public funding to create projects. For one, infrastructure projects risk increased inflation if the government decides to take a loan from another country as a source of financing. The country then has to print more money or offer more foreign securities if they want to cover these debts. However, these acts can increase a country’s inflation rate and directly affect the exchange rates between countries. Lower Php vs Dollar Effects For ordinary Filipinos, price increases for goods and services are expected. First, a fluctuating currency causes inflation which lessens purchasing power. Second, there are commodities that the Philippines buy abroad, and dollars are needed to purchase those goods. Now that it takes more dollars to buy these goods expect a price increase. A Safe Investment when Currencies Fluctuate Real estate is one of the safest investments, even in an unstable economy. Real estate properties never depreciate, and having them gives anyone a safe and passive income flow. In 2016, there were reports that OFWs were investing in real estate due to the fluctuating peso. If you are an OFW looking for a safe real estate investment, a house and lot in Camella is the best option. You can avail yourself a Camella house and lot for as low as PHP 2 million, depending on location. The Philippine Peso might change in value over time, but the cash flow from your Camella house will remain strong within the test of time.
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"https://www.forbes.com/advisor/wp-content/uploads/2024/03/EricRosenberg-2023-Square-Eric-Rosenberg.jpg", "https://www.forbes.com/advisor/wp-content/uploads/2024/07/image1-6-568x322.png", "https://www.forbes.com/advisor/wp-content/uploads/2021/05/leeron.jpeg", "https://www.forbes.com/advisor/wp-content/uploads/2024/07/image2-2-568x322.png", "https://www.forbes.com/advisor/wp-content/uploads/2024/03/Christiana-Forbes-resized-Christiana-Jolaoso-Oloyede-e1709911470905.jpg", "https://www.forbes.com/advisor/wp-content/uploads/2024/08/CD-Rates-2-chineese-man-with-a-tab--568x322.jpg", "https://www.forbes.com/advisor/wp-content/uploads/2024/06/1719585593734.jpg", "https://www.forbes.com/advisor/wp-content/uploads/2024/08/getty_mma_going_down-568x322.jpeg", "https://www.forbes.com/advisor/wp-content/uploads/2023/12/strohm-mitch-staff-e1702067345208.png" ]	[]	[]	[ "" ]	null	[ "calogero guagenti" ]	2024-08-19T15:18:00	Use our currency converter to find the live exchange rate between PHP and USD. Convert Philippine Peso to United States Dollar	en	https://www.forbes.com/a…/img/favicon.png	Forbes Advisor	https://www.forbes.com/advisor/money-transfer/currency-converter/php-usd/	If you’re planning a trip to the U.S. in the near future, you may want to exchange some of your money into U.S. dollars, the country’s official currency. The international symbol for the currency is USD. The U.S. dollar is the global reserve currency, which means foreign central banks hold it in their reserves in addition to their own currency. USD is used in about 40% of global trade and nearly 80% of all global cross-border transactions, with most commodities being traded in U.S. dollars. This post has everything you need to know about converting PHP to USD, including where to secure the best exchange rates and how to avoid paying high fees on your conversion. How to Convert PHP to USD Calculating a conversion of Philippine peso to U.S. dollar is fairly simple. You can either use a calculator or do it by hand. 1. Use a Currency Calculator Using a currency conversion calculator is often the easiest way to get an estimate when you’re converting currency. Since exchange rates fluctuate on a daily basis, using a calculator can ensure your math is correct. Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict. For instance, credit card companies and ATM networks usually charge a 1% conversion fee on all foreign transactions. Individual merchants may also charge supplemental fees if you ask them to convert the price of an item to your home currency at checkout. 2. Calculate it Manually The other option is to do the calculation manually using a simple mathematical formula. However, in order to do this, you need to know the current exchange rate. At the time of writing, ₱1 is equal to $0.017. Once you know that information, multiply the amount you have in PHP by the current exchange rate. The resulting number will show you the amount of dollars that you have to spend on your trip. Manual Currency Conversion Example Let’s say you have ₱5,000 and would like to figure out how many dollars you have for a trip to the States. Using the current exchange rate, the formula for your conversion would look like this: ₱5,000 PHP x 0.017 = $85 USD How to Buy USD When you’re ready to buy USD, it’s a good idea to plan ahead to ensure that you pay the fewest fees. Here are two ways to get the currency you need while minimizing the fees you’ll be charged: Exchange at a bank before your trip: Heading to your bank before your trip is often the most cost-effective way to exchange currency. Since you have an existing relationship with them, your bank is likely to give you the best exchange rates and charge the lowest fees. For example, BPI offers exchanges into multiple currencies, including USD, EUR and GBP. Use an ATM abroad for withdrawals: If you need to exchange more money while you’re on your trip, you can do so at an ATM. Be sure to check the fine print with your banking agreement to understand any exchange rate charges and out-of-network charges you may incur during a foreign ATM withdrawal. What to Avoid When Exchanging Currency Exchanging currency at the airport: While exchanging currency at the airport is unquestionably convenient, these kiosks often offer some of the worst exchange rates while charging some of the highest fees. Exchanging currency in a street kiosk: Some major American cities offer exchange kiosks that look like ATMs that allow you to exchange currency while on the go. Still, you’ll likely pay a premium to use one of these convenient locations. Next Up:
9083	dbpedia	2	11	https://gulfnews.com/your-money/philippine-peso-to-stay-one-of-the-most-stable-currencies-in-asia-1.1655112753636	en	Philippine peso to stay one of the most stable currencies in Asia	https://imagevars.gulfne…b394e_medium.jpg	https://imagevars.gulfne…b394e_medium.jpg	[ "https://assets.gulfnews.com/svg/logo-gn-white.svg", "https://assets.gulfnews.com/svg/logo-gn-white.svg", "https://assets.gulfnews.com/svg/logo-gn-white.svg", "https://imagevars.gulfnews.com/2021/12/16/Stock---Philippines-economy---Peso_17dc4ab394e_medium.jpg", "https://imagevars.gulfnews.com/2021/12/16/Stock---Philippines-economy---Peso_17dc4ab38e1_original-ratio.jpg", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/images/spacer.gif", "https://assets.gulfnews.com/svg/logo-gn.svg", "https://assets.gulfnews.com/svg/logo-gn-white.svg", "https://assets.gulfnews.com/images/gn_round_logo.png" ]	[]	[]	[ "" ]	null	[ "Agencies" ]	2022-06-13T12:58:02+04:00	Peso depreciated by 5.39 per cent in 2021, ending the year at 50.77 pesos to the US dollar	en	https://assets.gulfnews.…avicon-96x96.png		https://gulfnews.com/your-money/philippine-peso-to-stay-one-of-the-most-stable-currencies-in-asia-1.1655112753636	The Philippine peso continued to be one of the most stable currencies in Asia as the region is recovering from the COVID-19 pandemic, the country's Department of Finance (DOF) said on Sunday. DOF chief economist Gil Beltran said the peso depreciated by 5.39 per cent in 2021, ending the year at 50.77 pesos to the US dollar, reports Xinhua news agency. "It is ranked the eighth among 11 Asian currencies, in terms of strength, in one of the most open and fastest recovering economies in the world," Beltran said. He said three currencies, including the Japanese yen, the Thai baht, and the South Korean won, depreciated faster. Beltran added the peso was one of the strongest Asian currencies in 2022, ranking second to the Vietnamese dong. "Strong macroeconomic fundamentals continue to support the peso, despite external headwinds from tighter monetary policy actions by the US Federal Reserve and inflationary pressures from heightened global fuel prices," he explained. As of end-April 2022, he said the Philippines' gross international reserves of $106 billion could cover 9.4 months of imports of goods and services. Additionally, the country's exposure to external debt, measured in percent of the GDP, is the lowest among major Southeast Asian economies, he added. "Prudent macroeconomic management, sustaining the vaccination programme, and safely reopening the economy, among others, will be important in maintaining investor confidence as recovery gains traction and the economy chugs its way past its pre-pandemic level," Beltran added.
9083	dbpedia	1	44	https://www.focus-economics.com/country-indicator/philippines/exchange-rate/	en	Philippines Exchange Rate	https://www.focus-econom…avicon-32x32.png	https://www.focus-econom…avicon-32x32.png	[ "https://secure.insightful-enterprise-intelligence.com/782144.png", "https://static.focus-economics.com/app/uploads/2022/08/logo.svg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Philippines-scaled.jpg", "https://static.focus-economics.com/app/uploads/2022/11/dataplatform-1.svg", "https://www.focus-economics.com/app/uploads/2022/08/logo-1.svg" ]	[]	[]	[ "" ]	null	[]	2024-08-08T00:00:00+00:00	Updated charts and forecasts on Philippines Exchange Rate (PHP per USD, eop). Get access to accurate economic data and projections now.	en	https://focus-economics.…-icon-fuller.png	FocusEconomics	https://www.focus-economics.com/country-indicator/philippines/exchange-rate/	Consensus Forecasts and Projections for the next ten years How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine exchange rate projections for the next ten years from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Philippine exchange rate. Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine exchange rate projections. Want to get access to the full dataset of Philippine exchange rate forecasts? Send an email to info@focus-economics.com.
9083	dbpedia	2	85	https://sg.finance.yahoo.com/news/the-philippine-pesos-resilience-is-a-risk-to-the-economy-041341975.html	en	The Philippine Peso’s Resilience Is a Risk to the Economy	https://s.yimg.com/ny/api/res/1.2/ymWFrfBspkv6j9zWYMU8rg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04NTk-/https://s.yimg.com/os/creatr-images/2020-05/f7724090-8b61-11ea-bfff-124b6ce37f5a	https://s.yimg.com/ny/api/res/1.2/ymWFrfBspkv6j9zWYMU8rg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04NTk-/https://s.yimg.com/os/creatr-images/2020-05/f7724090-8b61-11ea-bfff-124b6ce37f5a	[ "https://sg.finance.yahoo.com/_td_api/beacon/info?beaconType=noJSenabled&bucket=finance-SG-en-SG-def&code=pageRender&device=desktop&lang=en-SG&pageName=deeplink&region=SG&rid=763mgv9jc6ph1&site=finance&t=1724081698187", "https://s.yimg.com/ny/api/res/1.2/gideQmuN4Tf6C5kRwWynGg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTE2MjtoPTQ4/https://s.yimg.com/os/creatr-uploaded-images/2021-02/886d1430-656e-11eb-bfdf-ff396c4fa39a", "https://s.yimg.com/ny/api/res/1.2/ZePkujarSaxiOx.XmiNBQQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY4Nw--/https://media-mbst-pub-ue1.s3.amazonaws.com/creatr-images/2020-05/f7724090-8b61-11ea-bfff-124b6ce37f5a", "https://s.yimg.com/ny/api/res/1.2/vhOYW.w5TghVLsdYr8yVfg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--/https://media.zenfs.com/en/bloomberg_markets_842/1417cdc11bb1835163c495d9e614deda", "https://s.yimg.com/ny/api/res/1.2/vhOYW.w5TghVLsdYr8yVfg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--/https://media.zenfs.com/en/bloomberg_markets_842/1417cdc11bb1835163c495d9e614deda", "https://sb.scorecardresearch.com/p?c1=2&c2=7241469&c5=1187300001&c7=https%3A%2F%2Fsg.finance.yahoo.com%2Fnews%2Fthe-philippine-pesos-resilience-is-a-risk-to-the-economy-041341975.html&c14=-1" ]	[]	[]	[ "" ]	null	[ "Bloomberg" ]	2020-05-01T04:13:41+00:00	The Philippine peso’s resilience to the global pandemic is making the nation’s exports become relatively more expensive, in a world where global demand is falling amid virus-induced lockdowns.	en	https://s.yimg.com/rz/l/favicon.ico	Yahoo Finance	https://sg.finance.yahoo.com/news/the-philippine-pesos-resilience-is-a-risk-to-the-economy-041341975.html	By Ditas Lopez The Philippine peso’s resilience to the global pandemic poses a risk to an economy that is forecast to contract in 2020, with the currency expected to remain largely stable by the end of the year. The peso is one of only two emerging currencies that haven’t suffered losses this year, with declines exceeding 20% in some of its peers like in Brazil and South Africa. The local currency is projected to end the year at 51 per dollar, according to the median of April estimates in a Bloomberg survey. It climbed to as high as 50.40 on Thursday, the strongest level since January. The currency’s resilience is making the nation’s exports become relatively more expensive, in a world where global demand is falling amid virus-induced lockdowns. A weaker currency would also boost the value of remittances, a key source of consumption and which the World Bank expects to contract by about 13% this year. “A weak peso will be helpful for remittance beneficiaries, which could in turn help bolster sagging consumption,” said Nicholas Mapa, economist at ING Groep NV in Manila. Bangko Sentral ng Pilipinas is committed to a free floating exchange rate policy regardless of the peso’s direction, Governor Benjamin Diokno said. “We participate in the FX market only when there is a need to smoothen volatility,” he said in a mobile-phone message. Foreign reserves climbed to a record $89 billion in March, a report on Thursday showed, signaling authorities didn’t aggressively intervene to support the peso last month when a global financial market meltdown sent risky assets crashing. Roland Avante, president of Philippine Business Bank, said the peso has remained resilient as imports are weak with most companies shut and oil prices and demand low. The government’s recent $2.35 billion bond sale and loans from multilateral institutions also provide support. Money sent home by Filipinos working abroad reached a record $30.1 billion last year, equal to about 10% of the country’s gross domestic product. © 2020 Bloomberg L.P.
9083	dbpedia	0	73	https://www.mastercard.us/en-us/personal/get-support/convert-currency.html	en	Currency Exchange Rate Calculator	https://www.mastercard.us/content/dam/dxp/favicon/mastercardfavicon.ico	https://www.mastercard.us/content/dam/dxp/favicon/mastercardfavicon.ico	[ "https://www.mastercard.us/en-us/personal/get-support/{{ loader }}" ]	[]	[]	[ "" ]	null	[]	null	Mastercard currency converter tool calculates foreign exchange rates for all the major currencies worldwide to enable cross-border purchases and ATM transactions.	en	/content/dam/dxp/favicon/mastercardfavicon.ico		null	Every day, everywhere, we use our technology and expertise to make payments safe, simple and smart. This currency converter tool provides foreign exchange rates by Mastercard to convert from the transaction currency to your card's currency for cross border purchases and ATM transactions.
9083	dbpedia	3	26	https://www.investopedia.com/terms/forex/c/clp-chilean-peso.asp	en	Chilean Peso (CLP): Overview, History, Exchange Rate	https://www.investopedia…fb0026016fa6.jpg	https://www.investopedia…fb0026016fa6.jpg	[ "https://www.investopedia.com/thmb/nSobm7a0LQiDFgmrKU-QLBsumXc=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/photo__james_chen-5bfc26144cedfd0026c00af8.jpeg 90w", "https://www.investopedia.com/thmb/2UsuCW4HNEckztWwse3CBsm-iPA=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/photo__james_chen-5bfc26144cedfd0026c00af8.jpeg", "https://www.investopedia.com/thmb/xGxJPGyeRPpaNX44B3J6AmOFXuo=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/00100lrPORTRAIT_00100_BURST20200515171729630_COVER-SamSilberstein-8e793dbafa8845ebb749a0275c34bdef.JPG 90w", "https://www.investopedia.com/thmb/w1dGB3Yw81ZkP7W-ERZ0rbhPPys=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/00100lrPORTRAIT_00100_BURST20200515171729630_COVER-SamSilberstein-8e793dbafa8845ebb749a0275c34bdef.JPG", "https://www.investopedia.com/thmb/AW0KB0rHK8AiRmpB5BoeI7wDXMg=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/148963534-5bfc2b94c9e77c0026b4f9f1.jpg", "https://www.investopedia.com/thmb/AW0KB0rHK8AiRmpB5BoeI7wDXMg=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/148963534-5bfc2b94c9e77c0026b4f9f1.jpg", "https://www.investopedia.com/thmb/VuAN1WFfpcHPHTOhB5v_qT5GYmU=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex17-5bfc2b91c9e77c0026306532.jpg", "https://www.investopedia.com/thmb/VuAN1WFfpcHPHTOhB5v_qT5GYmU=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/forex17-5bfc2b91c9e77c0026306532.jpg", "https://www.investopedia.com/thmb/a2k-tI6dVPhqCB6QiQj1Emsk6Pc=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/philippine-peso-coin-636231122-c8d24a7a487747bd8ecbeffb2a84447b.jpg", "https://www.investopedia.com/thmb/a2k-tI6dVPhqCB6QiQj1Emsk6Pc=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/philippine-peso-coin-636231122-c8d24a7a487747bd8ecbeffb2a84447b.jpg", "https://www.investopedia.com/thmb/mIW76qQtYn_fIaXaS5q1fRPHDTM=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-132057509-feed30bfb5f147d38b7c265a97b8c124.jpg", "https://www.investopedia.com/thmb/mIW76qQtYn_fIaXaS5q1fRPHDTM=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-132057509-feed30bfb5f147d38b7c265a97b8c124.jpg", "https://www.investopedia.com/thmb/x1jMr2X6Mcco36Peib_jN78KPyY=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/SingaporeDollar-ce1582fcbf984f0ba42f95bfc3c76196.jpg", "https://www.investopedia.com/thmb/x1jMr2X6Mcco36Peib_jN78KPyY=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/SingaporeDollar-ce1582fcbf984f0ba42f95bfc3c76196.jpg", "https://www.investopedia.com/thmb/aLhbbg_8B3RUl7HsYaXyogXdA_c=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/Exchange-Rate-1b1df02db6a14eee998e1b76d5c9b82d.jpg", "https://www.investopedia.com/thmb/aLhbbg_8B3RUl7HsYaXyogXdA_c=/400x300/filters:no_upscale():max_bytes(150000):strip_icc()/Exchange-Rate-1b1df02db6a14eee998e1b76d5c9b82d.jpg", "https://privacy-policy.truste.com/privacy-seal/seal?rid=f8e1238d-6371-460f-8ea0-1b8cad9e9c4b" ]	[]	[]	[ "" ]	null	[ "James Chen" ]	2008-08-10T13:00:00-04:00	The Chilean peso (CLP) is the official currency of Chile and is issued by the Banco Central de Chile, the nation's central bank.	en	/favicon.ico	Investopedia	https://www.investopedia.com/terms/forex/c/clp-chilean-peso.asp	What Is the Chilean Peso (CLP)? The Chilean peso is the official currency of Chile and is issued by the Banco Central de Chile, the country's central bank. It is represented by the code CLP on the foreign currency markets. The peso is symbolized by $, usually preceded by the symbol CLP to distinguish it from the U.S. dollar and other dollar-denominated currencies that use the same symbol. The Chilean peso subdivides into 100 centavos. As of March 27, 2022, $1 U.S. was worth 777.18 CLP. Understanding the Chilean Peso The Chilean people have several colloquial names for the Chilean peso (CLP). These names include quina for the 500 peso note, first introduced in 1977, and gamba for the 100 peso note. The Chilean peso is a restricted currency, meaning that it can only be exchanged and used within Chile. This restriction affects international travelers but does not bar its trading on the forex markets. There also is one exception to the restriction: Chile has a currency swap agreement with China due to the importance of the trade relationship between the two countries. Such swaps are done to keep loan rates between trading nations stable. CLP in the Forex Markets The peso suffered a historic low period in March 2020 when the COVID-19 pandemic spooked traders in the currencies of emerging nations. The CLP fell to about 839 pesos per U.S. dollar, a drop of more than 20% on a year-over-year basis and its worst level historically, The central bank intervened with purchases of the peso to stabilize its price. The peso recovered steadily in early 2022, moving from about 851.50 at the beginning of the year to 777.18 on March 27, 2022. In the forex markets, the CLP commonly trades with major world currencies including the USD, Canadian dollar (CAD), Australian dollar (AUD), the euro (EUR), British pound (GBP), and Japanese yen (JPY). It also trades regularly against the Brazilian real (BRL). History of the Chilean Peso The Chilean peso was introduced in 1817 and was then tied to the Spanish real. It remains Chile's currency to this day, with the exception of the period between 1960 and 1975 when it was replaced by the escudo, which was valued at 1,000 pesos. The peso is not pegged to any other currency. The peso’s valuation has changed several times since its introduction. Until 1979, the central bank held the currency within a crawling band of exchange rate values. Between 1979 and 1982, the central bank pegged the peso to the U.S. dollar. Overvaluation of the peso caused by a combination of the dollar peg and high interest rates caused the country to run up its debt, leading to an economic crisis in 1982. Associated inflation made centavo coins obsolete in 1984. The Central Bank returned to a system of crawling currency bands to value the currency between 1984 and 1999. The currency’s value has floated freely since then, though the Chilean government allows occasional intervention in markets to control extreme volatility. The currency’s value has remained relatively stable since, aside from actions imposed by the central bank in response to specific events. These included the Sept. 11, 2001, terrorist attacks in New York and a period of volatility following Brazil’s chaotic 2002 election cycle. The central bank also took action to rein in the currency’s strength against the USD during 2008 and 2011. The currency fell precipitously in 2015 on market fears of a drop in copper prices but the central bank declined to intervene at that time. The bank did choose to intervene in 2020 when its currency dropped sharply in response to the COVID-19 pandemic. The Chilean Economy Chile enjoyed one of Latin America's fastest-growing economies for decades. However, its growth has slowed in recent years, revealing deep-rooted problems of income inequity and a fragile middle-class. The problems were greatly exacerbated by the COVID-19 pandemic, The nation's economy contracted by 6% in 2020, although it began improving with the loosening of COVID-related restrictions. The nation's leaders responded vigorously to the pandemic with social spending to relieve the financial strain on families. And that, of course, boosted the nation's debt, at least temporarily. Chile was expected to recover economically from the pandemic, with an estimated 12% growth in GDP in 2021, followed by a slower but still healthy 2% growth in 2023. History of the Chilean Peso Historically, the term peso first referred to a Spanish coin named the eight-real coin, which was circulated in Chile beginning in 1817. By 1851, the peso was equal to five French francs but was made up of a smaller amount of gold. The first paper banknotes appeared in the early 1840s, printed by some private banks, which continued until 1898. The first government-issued convertible paper currency came out in 1881. The Banco Central de Chile became the country’s sole issuer of currency in 1925. Chile decided to replace its peso with a new currency, the escudo, in 1960, at a value of one escudo per 1,000 old pesos. Fifteen years later, in 1975, the central bank re-established the Chilean peso and began replacing the escudo at an exchange rate of $1 peso for 1,000 escudos. Currency Swap with China Chile has strong diplomatic and economic ties with China. In 2018, it signed onto China's Belt and Road initiative, a massive program to improve infrastructure in nations that have or could have useful trade ties with China. China has become Chile's top trading partner. The relationship is not without controversy. Chile's choice of a Japanese company rather than a Chinese company for a trans-Pacific fiber optic cable project was seen as a response to growing concern over China's political influence in Chile. In any case, the currency swap agreement between Chile and China has helped shield Chile's economy from interest rate shocks that would damage its trade. The amount of currency available through the swap was increased in 2020 to further shield Chile from the economic effects of the pandemic. The Bottom Line Chile's status as a Latin American beacon of economic stability and growth has somewhat dimmed in the recent past. A series of demonstrations in 2019 and 2020 focused attention on the nation's continuing problems of poverty and inequality. The COVID-19 pandemic added to its problems, making the nation's growing middle class vulnerable to its economic disruptions. Aggressive fiscal and monetary policy actions seemed to have worked, bringing the country back to pre-pandemic levels of growth and prosperity.
9083	dbpedia	0	24	https://gadttravel.com/blog/philippines-currency-the-philippine-peso/	en	Philippines currency – the Philippine peso	https://gadttravel.com/b…ured-Image-1.jpg	https://gadttravel.com/b…ured-Image-1.jpg	[ "https://gadttravel.com/blog/wp-content/uploads/2022/06/logo-transparent.png", "https://gadttravel.com/blog/wp-content/uploads/2020/08/francis-67x67.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/20_Pesos_Note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/50-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/100-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/200-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/500-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/1000-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/One-peso-coin.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/5-peso-coin.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/10peso-coin.jpg", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Southeast_Asia_destinations.png", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Featured_Image-1.jpg", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Featured_Image_What_to_Do-3.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/12/vietnam-family-tour-1-67x67.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/11/anh-67x67.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/09/16-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/09/1-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/08/Vietnam-weather-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/08/Vietnam-evisa-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://www.tripadvisor.com/img/cdsi/img2/branding/150_logo-11900-2.png", "https://images.dmca.com/Badges/dmca_protected_sml_120m.png?ID=877b105f-423c-41f8-b67b-90734128c3e7", "https://gadttravel.com/blog/wp-content/uploads/2022/06/logo-transparent.png" ]	[]	[]	[ "" ]	null	[ "Francis Port", "Linh Nguyen", "Ellie Nguyen" ]	2019-06-17T04:50:58+00:00	Before your trip to Philippines you are probably asking what is the Philippines currency...	en	https://gadttravel.com/b…dard-1-32x32.png	Gadt Travel	https://gadttravel.com/blog/philippines-currency-the-philippine-peso/	When you travel abroad, you should be careful to the local currency of the country you are going to. Indeed, you should have an idea of the conversion rate between the local currency of the country you are going to and the currency of the country you are coming from. Thereby, it will help you a lot to have an idea of the cost of things when you will be in this new country. Let’s have a look at the Philippines currency which is the Philippine peso or piso in Filipino. Main information The symbol of the Philippines currency is a P crossed by two lines: “₱”. This letter is coming from the first letter of the currency name: “Peso”. The official code of the Philippines currency is PHP that is referring to its name: Philippine Peso. Here are some conversion rates of the Philippine Peso with other popular currencies: $1 (USD) = ₱52 €1 (EUR) = ₱58 ¥1 (JPY) = ₱0.50 £1 (GBP) = ₱66 $1 (AUD) = ₱36 元1 (CNY) = ₱7.50 The Philippines currency is subdivided into 100 centavos such as the Euro (€) currency. Indeed, you will find 6 different types of banknotes and 7 different types of coins. You must be careful to don’t mix them up. Banknotes Twenty-peso note (₱20) The twenty-peso note is easy to recognize with its flashy orange colour. On the front side of the note you will see the Philippine President named Manuel Quezon. Quezon was the president of the Commonwealth of the Philippines between 1935 and 1944. He was the first Filipino to head a government of the entire Philippines. On the back of the note you will see natural elements such as the Banaue Rice Terraces and the palm civet. ₱20 = $0.40\|€0.34\| ¥42\|£0.30\|$0.56 (AUD)\|元2.67 Fifty-peso note (₱50) As for the twenty-peso note, the fifty-peso note is quite easy to recognize with its flashy red. On the front side of the note you will see the fourth president of the Philippines (1944-1946), named Sergio Osmeña Sr. who succeeded to Manuel Quezon. On the reverse side of the note you will also see natural elements. This time it’s the Taal Lake and the giant trevally (fish). ₱50 = $1\|€0.85\| ¥104\|£0.75\|$1.40 (AUD)\|元6.70 One hundred peso note (₱100) We stay in the flashy colours with the one hundred-note as it’s coming in purple. On the front of the note you will see the face of Manuel Roxas who was the third and last president of the Commonwealth of Philippines and the first president of the independent third Philippine Republic (1946 – 1948). On the reverse side of the note, you will see the Mayon Volcano and the whale shark. ₱100 = $2\|€1.70\| ¥208\|£1.50\|$2.80 (AUD)\|元13.40 Two hundred peso note (₱200) The ₱200 note is quite rare and used unfrequently. It’s coming in light green and is also quite flashy. On the front of the note you can see the Ninth President of the Philippines from 1961 to 1965 named Diosdado Macapagal. On the reverse side of the note you will find the Chocolate Hills as well as the Philippine Tarsier. ₱200 = $4\|€3.40\| ¥416\|£3\|$5.60 (AUD)\|元26.80 Five hundred peso note (₱500) The ₱500 note is coming in a dark yellow / orange colour. On the front of the note you can see the senator Benigno Aquino Jr. and his wife, President Corazon Aquino. On the reverse side of the note, you will see the Puerto Princesa Subterranean River National Park and the blue-napped parrot. ₱500 = $10\|€8.50\| ¥1040\|£7.50\|$14 (AUD)\|元67 One thousand peso note (₱1,000) The ₱1,000 note is the biggest note of the Philippines currency and is coming in a light blue colour. On the front side of the note you will find three people. The first one is José Abad Santos, the fifth Chief Justice of the Supreme Court of the Philippines. He was also a Commander in Chief of the Armed Forces of the Philippines during World War II. The second one is Vicente Lim, a Filipino Brigadier General and a hero during Wold War II. The third and last person is a woman called Josefa Llanes Escoda, known as a Filipino advocate of women’s suffrage. On the reverse side of the note, you will see the Tubbataha Reefs Natural Park and the South Sea pearl. ₱1,000 = $20\|€17\| ¥2080\|£15\|$28 (AUD)\|元134 Coins Philippine one-peso coin (₱1) The ₱1 coin is made from steel. On its current version (2018), you can see the face of José Rizal a Filipino Nationalist considered as a hero, on the front of the coin. On the reverse side of the coin, you can see the Waling-waling orchid as well as the logo of the Bangko Sentral ng Pilipinas. ₱1 = $0.019\|€0.017\|¥2.10\|£0.015\|$0.028 (AUD)\|元0.13 Philippine five-peso coin (₱5) As the one-peso coin, the ₱5 coin is made from steel. On the front of the coin, we can see the face of Andrés Bonifacio who was a Filipino revolutionary leader. On the reverse side of the coin we can see the Tayabak which is a Philippine vine as well as the logo of the Bangko Sentral ng Pilipinas. ₱5 = $0.095\|€0.085\|¥10.50\|£0.075\|$0.140 (AUD)\|元0.65 Philippine ten-peso coin (₱10) As for the others, the 2018 version of the ₱10 coin is made from steel. On the 2018 version, we can see on the front face of the coin, the face of Apolinario Mabini who was a Filipino revolutionary leader. On the reverse side of the coin, we can see the flower “Kapa-kapa” as well as the logo of the Bangko Sentral ng Pilipinas. ₱10 = $0.190\|€0.170\|¥21\|£0.150\|$0.280 (AUD)\|元1.30 Others It also exists coins of 1¢, 5¢, 10¢ and 25¢ but they are rarely used.
9083	dbpedia	1	87	https://markets.businessinsider.com/currencies/usd-php	en	United States Dollar - Philippine Peso	https://markets.business…FacebookIcon.jpg	https://markets.business…FacebookIcon.jpg	[ "https://markets.businessinsider.com/Images/b_partner/shutterstock_p500.jpg", "https://markets.businessinsider.com/public/assets/MI/logos/MI-logo-dark-new.svg", "https://markets.businessinsider.com/public/assets/MI/logos/MI-logo-dark-new.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/facebook.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/facebook.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/twitter.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/twitter.svg", "https://markets.businessinsider.com/public/assets/logos/stacked-black.svg", "https://markets.businessinsider.com/public/assets/logos/stacked-black.svg", "https://markets.businessinsider.com/public/assets/shared/privacy-options.svg", "https://markets.businessinsider.com/public/assets/shared/privacy-options.svg", "https://markets.businessinsider.com/public/assets/INSIDER/US/logos/Insider-logo-dark-opt.svg", "https://markets.businessinsider.com/public/assets/INSIDER/US/logos/Insider-logo-dark-opt.svg" ]	[]	[]	[ "" ]	null	[]	null	Get free real-time information on USD/PHP quotes including USD/PHP live chart.	en	/apple-touch-icon.png	markets.businessinsider.com	https://markets.businessinsider.com/currencies/usd-php	Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.
9083	dbpedia	3	4	https://www.oanda.com/currency-converter/en/currencies/majors/php/	en	Philippine Peso	https://www.oanda.com/favicon.ico	https://www.oanda.com/favicon.ico	[ "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-60.png", "https://www.oanda.com/assets/images/business-icons/trading_colour.e605cf03b993.svg", "https://www.oanda.com/assets/images/business-icons/sfb_colour.6603e1245143.svg", "https://www.oanda.com/assets/images/business-icons/historical-currency-converter.a97b0d5892cd.svg", "https://www.oanda.com/assets/images/business-icons/exchange-rates-api.2c68b5fb640a.svg", "https://www.oanda.com/assets/images/business-icons/oanda_colour.4e08e16458b1.svg", "https://www.oanda.com/assets/images/business-icons/market-pulse_colour.06b80e4bceab.svg", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Dark_NoPadding_v0.01.height-60.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Dark_NoPadding_v0.01.height-60.png", "https://www.oanda.com/assets/images/business-icons/trading_colour.e605cf03b993.svg", "https://www.oanda.com/assets/images/business-icons/sfb_colour.6603e1245143.svg", "https://www.oanda.com/assets/images/business-icons/historical-currency-converter.a97b0d5892cd.svg", "https://www.oanda.com/assets/images/business-icons/exchange-rates-api.2c68b5fb640a.svg", "https://www.oanda.com/assets/images/business-icons/oanda_colour.4e08e16458b1.svg", "https://www.oanda.com/assets/images/business-icons/market-pulse_colour.06b80e4bceab.svg", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-50.png", "https://www.oanda.com/media/images/Apple_Store.height-80.png", "https://www.oanda.com/media/images/Google_Play.height-80.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-50.png" ]	[]	[]	[ "" ]	null	[]	null	Get information about the PHP currency. The Philippine peso (PHP), or ‘piso’ in Filipino, is the official currency of the Philippines. The symbol of the Philippine peso is ₱.	en	/favicon.ico		https://www.oanda.com/currency-converter/en/currencies/majors/php/	Description The Philippine peso (PHP), or ‘piso’ in Filipino, is the official currency of the Philippines. It's subdivided into 100 centavos, or ‘sentimos’ in Filipino. The symbol of the Philippine peso is ₱.
9083	dbpedia	0	32	https://markets.businessinsider.com/currency-converter/philippine-peso_united-states-dollar	en	Philippinischer Peso to US-Dollar Conversion	https://markets.business…FacebookIcon.jpg	https://markets.business…FacebookIcon.jpg	[ "https://markets.businessinsider.com/images/unsortiert/bitcoin-colorful-red.jpg", "https://markets.businessinsider.com/images/unsortiert/ethereum-merge.jpg", "https://markets.businessinsider.com/public/assets/MI/logos/MI-logo-dark-new.svg", "https://markets.businessinsider.com/public/assets/MI/logos/MI-logo-dark-new.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/facebook.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/facebook.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/twitter.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/twitter.svg", "https://markets.businessinsider.com/public/assets/logos/stacked-black.svg", "https://markets.businessinsider.com/public/assets/logos/stacked-black.svg", "https://markets.businessinsider.com/public/assets/shared/privacy-options.svg", "https://markets.businessinsider.com/public/assets/shared/privacy-options.svg", "https://markets.businessinsider.com/public/assets/INSIDER/US/logos/Insider-logo-dark-opt.svg", "https://markets.businessinsider.com/public/assets/INSIDER/US/logos/Insider-logo-dark-opt.svg" ]	[]	[]	[ "" ]	null	[]	2024-08-19T00:00:00		en	/apple-touch-icon.png	markets.businessinsider.com	https://markets.businessinsider.com/currency-converter/philippine-peso_united-states-dollar
9083	dbpedia	3	67	https://www.td.com/us/en/personal-banking/foreign-exchange	en	TD Bank Foreign Currency Exchange, International Wire Transfers & More			[ "https://www.td.com/content/dam/tdb/images/small-business/country-us-en.png", "https://www.td.com/content/dam/tdb/images/small-business/rate-country-ca-en.png", "https://www.td.com/content/dam/tdb/images/small-business/country-us-en.png", "https://www.td.com/content/dam/tdb/images/small-business/tdb-tag-white-en.png", "https://www.td.com/content/dam/tdb/images/small-business/tdb-white-en.png", "https://www.td.com/content/dam/tdb/images/small-business/td-logo-en.png", "https://www.td.com/content/dam/tdb/images/small-business/rate-country-ca-en.png", "https://www.td.com/content/dam/tdb/images/small-business/country-us-en.png", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_1/container_copy/image.coreimg.jpeg/1662965197934/cruise-13.jpeg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_1/container_1266112778/container_copy/textimagectagrid_con/0/custom_teaser.coreimg.svg/1651079099245/takingatrip-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_1/container_1266112778/container_copy/textimagectagrid_con/1/custom_teaser.coreimg.svg/1657813937947/findaforeignexchangecenter-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_1/container_1266112778/container_copy/textimagectagrid_con/2/custom_teaser.coreimg.svg/1651079583382/crossbordercan-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_1/container_1194228982/container_copy_15393/textimagectagrid_con/0/custom_teaser.coreimg.svg/1651080188676/sbapplyonline-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_1/container_1194228982/container_copy_15393/textimagectagrid_con/1/custom_teaser.coreimg.svg/1651654416769/businessadvice-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_2/container_1117574101/container/image.coreimg.jpeg/1704834352290/foreign-exchange-3.3d-en.jpeg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_2/container_1266112778/container_copy/textimagectagrid_con/0/custom_teaser.coreimg.svg/1704485705361/spendingabroad-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_2/container_1266112778/container_copy/textimagectagrid_con/1/custom_teaser.coreimg.svg/1662965277033/foreigncurrencyservices-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_2/container_1266112778/container_copy/textimagectagrid_con/2/custom_teaser.coreimg.svg/1657815379781/personalizedadvice-en.svg", "https://www.td.com/us/en/personal-banking/foreign-exchange/_jcr_content/root/container/responsivegrid/container_903113125/tabs/item_2/container_1511280786/custom_teaser.coreimg.svg/1705072114537/businessadvice-en.svg", "https://www.td.com/content/dam/tdb/images/small-business/ehl-house-en.svg" ]	[]	[]	[ "" ]	null	[]	null	Learn about TD Bank Foreign Exchange Services like in-store currency exchange, online ordering for in-store pickup, international wire transfers, drafts & foreign checks.	en	/etc.clientlibs/tdsite/clientlibs/clientlib-wealth/resources/images/wealth-favicon.ico		https://www.td.com/us/en/personal-banking/foreign-exchange	1Some currencies may take longer than 2–3 days. 2Foreign banknotes only, coins cannot be accepted for exchange. Foreign Exchange (FX) products and services are provided by TD Bank, N.A.'s affiliate, The Toronto-Dominion Bank.
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9083	dbpedia	0	65	https://treasury.un.org/operationalrates/OperationalRates.php	en	UN Operational Rates of Exchange	https://treasury.un.org/…ates/favicon.gif	https://treasury.un.org/…ates/favicon.gif	[]	[]	[]	[ "" ]	null	[]	null			favicon.gif		null	Operational exchange rates for one United States Dollar (USD) listed by country. You can navigate the list by clicking on a letter.
9083	dbpedia	2	93	https://www.thecurrencyclub.co.uk/travel-money/sell-philippines-peso-php	en	Simple Currency Conversion	https://www.thecurrencyc…mon/tcc-logo.png	https://www.thecurrencyc…mon/tcc-logo.png	[ "https://www.thecurrencyclub.co.uk/images/common/menu-icons/overview.png", "https://www.thecurrencyclub.co.uk/images/common/menu-icons/faq.png", "https://www.thecurrencyclub.co.uk/images/common/menu-icons/review.png", "https://www.thecurrencyclub.co.uk/images/common/tcc-logo.png", "https://www.thecurrencyclub.co.uk/images/common/brace.png", "https://www.thecurrencyclub.co.uk/images/common/home-ttlimg.png", "https://www.thecurrencyclub.co.uk/images/common/5stars.png", "https://www.thecurrencyclub.co.uk/images/common/loader.gif", "https://www.thecurrencyclub.co.uk/images/common/search-faq.png", "https://www.thecurrencyclub.co.uk/images/common/moving-curncy-arrow.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/GBP.png", "https://www.thecurrencyclub.co.uk/images/common/contact-form-rgt.png", "https://www.thecurrencyclub.co.uk/images/common/contact-form-rgt.png", "https://www.thecurrencyclub.co.uk/images/common/search-faq.png", "https://www.thecurrencyclub.co.uk/images/common/exchange-arrow.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/GBP.png", "https://www.thecurrencyclub.co.uk/images/common/hdiw-slide-dot.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/tm-no1.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/bb-hdiw-1.png", "https://www.thecurrencyclub.co.uk/images/common/testimonial-dots-linesexakt3.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/tm-top-dotted.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/tm-btm-dotted.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/tm-no2.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/bb-hdiw-2.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/tm-no3.png", "https://www.thecurrencyclub.co.uk/images/common/tm-hdiw/bb-hdiw-3.png", "https://www.thecurrencyclub.co.uk/images/common/testimonial-dots-linesexakt4.png", "https://www.thecurrencyclub.co.uk/images/common/testimonial-dots-vertical-8.png", "https://www.thecurrencyclub.co.uk/images/common/testimonial-dots-vertical-8.png", "https://www.thecurrencyclub.co.uk/images/common/loader.gif", "https://www.thecurrencyclub.co.uk/images/common/search-faq.png", "https://www.thecurrencyclub.co.uk/images/common/exchange-arrow.png", "https://www.thecurrencyclub.co.uk/images/common/search-faq.png", "https://www.thecurrencyclub.co.uk/images/common/loader.gif", "https://www.thecurrencyclub.co.uk/images/common/contact-form-lft.png", "https://www.thecurrencyclub.co.uk/images/common/search-faq.png", "https://www.thecurrencyclub.co.uk/images/common/exchange-arrow.png", "https://www.thecurrencyclub.co.uk/images/common/search-faq.png", "https://www.thecurrencyclub.co.uk/images/common/faq-dot-img.png", "https://www.thecurrencyclub.co.uk/images/common/testimonial-dots-vertical.png", "https://www.thecurrencyclub.co.uk/images/common/two-line-contact.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/GBP.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/PHP.png", "https://www.thecurrencyclub.co.uk/images/common/intl-promotion.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/PHP.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/GBP.png", "https://www.thecurrencyclub.co.uk/images/common/testimonial-dots-vertical-8.png", "https://www.thecurrencyclub.co.uk/images/common/tcc-logo.png", "https://www.thecurrencyclub.co.uk/images/common/facebook.png", "https://www.thecurrencyclub.co.uk/images/common/twitter.png", "https://www.thecurrencyclub.co.uk/images/common/instagram.png", "https://www.thecurrencyclub.co.uk/images/common/white-close.png", "https://www.thecurrencyclub.co.uk/images/common/white-close.png" ]	[]	[]	[ "" ]	null	[]	null	Is the bank offering you terrible exchange rates? With The Currency Club now sell Philippine Pesos at market best rates.	en	/images/common/favicon.ico		https://www.thecurrencyclub.co.uk/travel-money/sell-philippines-peso-php	Send your Philippines Peso to us securely via Royal Mail special delivery Please make sure the item has been insured to correct value in the event of loss or theft and keep hold of the tracking ID. Send to the following address: TCC, PO BOX 66831, London, W27TB Sell Philippines Peso Through The Currency Club No more settling for terrible currency exchange rates. Opt for complete transparency! The Currency Club is the first online currency exchange service provider, openly offering access to live interbank rates. You can use these live rates for Philippines Peso and calculate our spread. This way, you can easily estimate your exchanged amount in Pounds. Unlike other companies, we have no hidden fees. Rather we are known for offering the market best rates for Philippines Peso. Along with that, we also try to make the process as streamlined as possible to convert currencies without any hassle. So, instead of wasting your currency and time on other institutions, opt for our easy to use buy back services. How Many Pounds Will I Get Against 1000 Philippines Peso? Since the exchange rates are always changing, there is no particular amount that you can get against 1000 Philippines Peso. However, if you want to know its value right at this moment, refer to our currency converter. How Can I Compare The Currency Club's Rate With Other Companies? We are pretty confident about offering the best market deals. Hence, you do not have to look anywhere else to compare our live Philippine Peso exchange rates. Just go to our dedicated "compare us" page and see how great our exchange rates are.
9083	dbpedia	3	30	https://theculturetrip.com/asia/philippines/articles/php-explaining-pesos-the-currency-of-the-philippines	en	PHP: Explaining Pesos, The Currency of The Philippines	https://cdn-v2.thecultur…k_304265387.webp	https://cdn-v2.thecultur…k_304265387.webp	[ "https://www.facebook.com/tr?id=786443818164980&ev=PageView&noscript=1", "https://theculturetrip.com/img/ct-full.svg", "https://theculturetrip.com/img/currency-flags/USD.svg", "https://theculturetrip.com/img/currency-flags/USD.svg", "https://theculturetrip.com/img/currency-flags/EUR.svg", "https://theculturetrip.com/img/currency-flags/GBP.svg", "https://theculturetrip.com/img/currency-flags/AUD.svg", "https://theculturetrip.com/img/currency-flags/CAD.svg", "https://theculturetrip.com/img/currency-flags/NZD.svg", "https://cdn-v2.theculturetrip.com/20x11/wp-content/uploads/2018/05/shutterstock_304265387.webp", "https://secure.gravatar.com/avatar/be13601c833bec994466c257d4c9bf5b?s=96&d=mm&r=g", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/102487644_91cc1574f3_b.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/php1_pilipino_series_bill.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/shutterstock_367647233.webp", "https://theculturetrip.com/img/banners/sign-up-banner-right.webp?s=10x", "https://theculturetrip.com/img/banners/sign-up-banner-right.webp?s=10x", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/php_2010_new_generation_currency_banknotes.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/shutterstock_53825038.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/shutterstock_246771826.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/new_php20_banknote_obverse.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2018/05/shutterstock_233280754.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/04/tx7ann-e1620317093944-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/01/amanpulo-header-e1614073650370-1024x575.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2020/12/beso-hilltop-retreat-hero-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/01/im-hotel-header-e1613998556148-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/04/9c7ea46e-e1620310059954-1024x574.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2020/12/sunlight-eco-tourism-island-resort_aa03d890-e1610983362989-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2020/12/29499cc9-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/01/gettyimages-1203882777-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2020/12/conrad-manila-2-philippines-e1609864735896-1024x575.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/04/t7fx5p-e1620654938969-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2020/12/sunlight-eco-tourism-island-resort-naglayan-island_ceff1f86-e1609871768305-1024x576.webp", "https://cdn-v2.theculturetrip.com/10x/wp-content/uploads/2021/01/bk5k16-e1614175176808-1024x576.webp", "https://theculturetrip.com/img/toast-message/toast_message_mobile.png", "https://theculturetrip.com/img/icons/cross.svg", "https://theculturetrip.com/img/icons/privacyoptions.svg", "https://theculturetrip.com/img/footer/pt-logo.webp", "https://theculturetrip.com/img/stores/app-store-badge.svg", "https://theculturetrip.com/img/stores/google-play-badge.svg" ]	[]	[]	[ "PHP", "Explaining", "Pesos", "Currency", "Philippines", "Philippine", "Peso", "journey", "today", "Discover", "history", "vibrant", "Asia" ]	null	[ "Katrina Escalona" ]	2018-05-26T22:28:40+00:00	The Philippine Peso has gone through quite the journey to get to where it is today. Discover the history of this vibrant Asian currency and learn the...	en	/img/apple-touch-icon.png	Culture Trip	https://theculturetrip.com/asia/philippines/articles/php-explaining-pesos-the-currency-of-the-philippines	A vibrant representation of not only the Filipino figures and natural riches they are embellished with, the ever-developing Philippine Peso has also come to represent the country’s vigorous journey through colonization and independence. From its dynamic past to what each bill can get you today, here’s everything you need to know about the Philippines’ currency. A brief history Philippine history is often broken down into the different colonial periods the country has undergone. Similarly, Philippine money through the years can also be classified according to the ruling colonial power of the time. While the islands of pre-colonial Philippines, then already active in international trade, had mediums of exchange such as cowrie shells and gold beads, it wasn’t until the Spanish Era that the country adapted paper money in the form of pesos fuertes. Decades later, a brief revolutionary period after the 1898 Declaration of Independence also brought about a short-lived revolutionary currency that was withdrawn soon after the arrival of the Americans. Under colonial American rule around the first half of the 1900s, banknotes were consistently changed from Spanish to English and the peso then was valued at half of the US dollar. And when the Japanese occupied the Philippines nearing the mid-1900s, so much money was released into circulation that the fiat peso became known as “Mickey Mouse money” for the little it could afford due to inflation. When the Central Bank of the Philippines was established in 1949, it momentarily continued an English series of banknotes until it initiated a more nationalistic currency series in the late 1960s which bore the Filipino language and the images of national heroes. This patriotic shift was the beginning of designs that led to today’s Philippine Peso. The PHP today The days of the 2:1 ratio of the Philippine Peso to the US dollar are long gone as conversion rates today sit at over ₱52 to $1, with the Philippine currency performing the worst it has in over a decade. While this slump renders the Peso weak and rather unstable, the silver lining lies in the millions of Overseas Filipino Workers (OFWs) who regularly send remittances to family back home. As OFW remittances rise in value, they continue to aid the country’s economy, sustaining and growing its domestic consumption. Notes Today there are six Filipino banknotes in circulation: the 20, 50, 100, 200 (being the least common), 500, and 1,000 peso bills. All don vibrant hues and the images of significant people and events in Philippine history, as well as those of the country’s endemic fauna, sights, and natural wonders. The bills are made of 80% cotton and 20% abaca, and possess a slightly rough texture. While they don’t vary in size, they distinctly differ in their striking colors of orange, red, purple, green, yellow, and light blue, respectively. See privacy policy. The most recent banknote design series, named the New Generation Currency, was released in 2010 and became the official series in circulation just last year, when the New Design Series, in circulation since 1985, was demonetized after June 2017. Coins Currently, coins from the previous BSP Coin Series and the recently released New Generation Currency Coin Series co-exist. The complete set of newer coins were released in March 2018 and will be formally launched in July. It consists of six coins: the 1-sentimo, 5-sentimo, 25-sentimo (cents), and the 1-piso, 5-piso, and 10-piso coins. The previous series, released in 1995 and of legal tender until otherwise announced by the central bank, had the same denominations plus a 10-sentimo coin, discontinued in the new series. Released just earlier this year, the newer set of Philippine coins have already amassed negative sentiment on social media from Filipinos disappointed by the new design. While the new coins slightly increase in size according to value, all six of them are silver and of designs so similar, people think them to be almost indistinguishable at quick glance. This can be cause for concern for Filipinos who work mostly with coins such as jeepney drivers, who often have to reach for and hand back change to passengers while driving. Similar to the new banknotes, the New Generation coins display the images of national heroes and endemic Philippine flora. People might have to get used to paying more attention to the edges when using these new coins, as this is where they differ, some with plain edges, others with reeds, and the 10-piso with some edge lettering. What will your money get you? ₱20 A 20-peso bill will always come in handy for taking public transport or getting a tasty street food fix. A common saying among tricycle or jeepney drivers and street vendors is: “Barya lang po sa umaga.” This roughly translates to a request that their passengers or customers pay in smaller denominations, especially in the mornings, when they don’t have enough change to give back if they were handed a large bill. So avoid giving your tricycle driver or kwek-kwek vendor a hard time and keep a 20 in your pocket when hitting the streets. ₱50 50 pesos can get you a full Filipino meal at a local carinderia (small eatery) or either a nice cold bottle of local San Miguel beer or tall glass of the famous halo-halo to beat the humid Philippine heat. ₱100 Take a 100 down to the nearest Jollibee and have one of their classic local favorites like a Chickenjoy meal, some Jolly Spaghetti, or a burger steak with rice. ₱200 At the beach, 200 PHP is enough to rent out a kayak for a few hours or some snorkelling gear. It could also rent a small beach cottage for a small group of friends. Or you can also take your 200 peso bill to shopping centers like Greenhills and Divisoria, bargain hard, and walk away with anything from pearl jewelry to a trendy new dress. ₱500 500 PHP, a little less than $10, can go far in the Philippines. Take a kalesa ride around Intramuros, treat yourself to a nice restaurant at a Manila mall, get a two-hour full body massage, watch a movie at a theater with La-Z-Boys and butler service … the list goes on. ₱1,000 With the country’s biggest banknote, you have enough to pay for a memorable experience. Island hop around some of the country’s finest islands, take a one-of-a-kind performance tour around historical Manila, or even score a cheap flight from one region to the next. Tips for splashing your cash While bustling Metro Manila is your typical big city with the advanced facilities expected of one, remember that when venturing out to the more rural areas of the Philippines, you might find your credit or debit cards to be quite useless. In the country’s smaller islands and villages, be prepared for the possible absence of ATM’s and establishments that take credit cards. So keep a reasonable amount of cash on hand when making trips off-the-beaten-path. Another important thing is to know when and when not to bargain. A typical misconception of Western travellers about the Philippines is that everything is and should be cheap, otherwise they are being scammed. So it’s helpful to understand that there are places for bargaining and negotiating such as tiangge stalls and roaming souvenir vendors, but that it isn’t customary in more formal establishments. If you deem a price too high, don’t automatically assume you are being cheated, and simply decline politely and walk away. There are some cases however where your safest bet is firmly agreeing on a price beforehand, such as with public transport like tricycles or casual local guides. Before using their services, make sure you’ve both decided on a price to avoid any disputes at the end of the trip. And finally, try to make a local friend—they will know where and how you can make the most of your cash. As the saying goes: “Do as the locals do.” This isn’t only a matter of cultural immersion but also of spending your money where it’s worth it. Filipinos love to eat, shop, and have fun, but they’re also great at spending as little as possible while they’re at it. So get in on local favorites, be it with food or shopping, and you can be sure to get a bang for your Philippine buck.
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"https://media.philstar.com/assets/share2_29.webp", "https://media.philstar.com/photos/2024/08/18/4_2024-08-18_22-34-03292_thumbnail.jpg 686w, https://media.philstar.com/photos/2024/08/18/4_2024-08-18_22-34-03292_tn.jpg 314w", "https://media.philstar.com/assets/share2_27.webp", "https://media.philstar.com/assets/share2_29.webp", "https://www.philstar.com/images/blank.png" ]	[]	[]	[ "bsp", "dollar" ]	null	[ "Wilson Sy" ]	2024-05-27T00:00:00	The Philippine peso is trading precariously close to its all-time low against the US dollar.		https://www.philstar.com/images/Home/favicon.ico	Philstar.com	https://www.philstar.com/business/2024/05/27/2358110/philippine-peso-edges-closer-record-low	The Philippine peso is trading precariously close to its all-time low against the US dollar. This is driven by the nation’s central bank signaling a potential policy shift toward looser monetary policy. The dovish pivot comes amidst a fragile economic recovery and persistent inflation. The current strong US dollar environment is also putting pressure on the peso and most currencies worldwide. The peso has already breached the key 57 per dollar in April. This is a threshold that was previously defended steadfastly by the BSP. It is now hovering around 58.20, edging closer to the record low of 59.20 set in October 2022. This decline marks the peso as one of the worst-performing currencies in Asia this quarter. Source: Tradingview.com, Wealth Securities Research Dovish BSP? In a recent Bloomberg interview, BSP Governor Eli Remolona signaled that the central bank is “somewhat less hawkish than before” and suggested that a rate cut could come as early as August. This marks a stark contrast to the US Federal Reserve, which has stressed its resolve to keep interest rates higher for longer to tame inflation. “We are beginning to see a negative output gap,” Remolona said. “That means it’s possible we are tighter than necessary in containing inflation.” The central bank chief also hinted at the possibility of cutting the key interest rate this year by as much as 50 basis points, depending on incoming data. He indicated that the first cut may happen in the third quarter, followed by another in the subsequent quarter. Data-driven policymaking Remolona further emphasized the BSP’s focus on domestic economic data rather than solely following the Fed’s lead. “We don’t care that much when the Fed cuts,” he told reporters last Wednesday. “We care more about our data.” “We follow the Fed very closely and what they decide is one data point for us, one among many others,” he added. Divergence with Fed The BSP’s likely divergence from the Fed’s policy stance has put additional downward pressure on the peso, as US dollar assets become relatively more attractive. This is evident in the currency’s performance compared to other Asian currencies this quarter. Source: Bloomberg, Wealth Securities Research Balancing growth and stability The central bank faces a delicate balancing act as it seeks to support growth while managing inflation, which remained at 3.8 percent in April. If the BSP prioritizes growth and proceeds with a rate cut in August, the peso may find itself in a vulnerable position. However, if it takes a firmer stance against inflation and refrains from cutting rates ahead of the Fed, the currency may finally find the support it needs. Reserves and intervention Remolona explained that the BSP had limited foreign exchange interventions to maintain market orderliness and not to influence the peso’s value. He added that the BSP does not intervene in the foreign exchange market daily and when it does the intervention is “very modest.” Interest rate differential If the BSP prematurely lowers interest rates ahead of the Fed, the interest rate differential between the two countries will narrow. This could potentially accelerate the peso’s decline. Forex traders may sell the peso and buy US dollars as they seek higher returns. Market vigilance As the BSP navigates the delicate balance between supporting a fragile recovery and containing inflation, the peso’s fate hangs in the balance. The central bank’s upcoming policy decisions will be closely scrutinized, as the peso teeters on the brink of its all-time low. The path ahead is fraught with challenges, but the BSP’s ability to navigate them effectively will be crucial in steering the Philippine economy towards stability and growth.
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Convert Philippine Peso to United States Dollar	en	https://www.forbes.com/a…/img/favicon.png	Forbes Advisor	https://www.forbes.com/advisor/money-transfer/currency-converter/php-usd/	If you’re planning a trip to the U.S. in the near future, you may want to exchange some of your money into U.S. dollars, the country’s official currency. The international symbol for the currency is USD. The U.S. dollar is the global reserve currency, which means foreign central banks hold it in their reserves in addition to their own currency. USD is used in about 40% of global trade and nearly 80% of all global cross-border transactions, with most commodities being traded in U.S. dollars. This post has everything you need to know about converting PHP to USD, including where to secure the best exchange rates and how to avoid paying high fees on your conversion. How to Convert PHP to USD Calculating a conversion of Philippine peso to U.S. dollar is fairly simple. You can either use a calculator or do it by hand. 1. Use a Currency Calculator Using a currency conversion calculator is often the easiest way to get an estimate when you’re converting currency. Since exchange rates fluctuate on a daily basis, using a calculator can ensure your math is correct. Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict. For instance, credit card companies and ATM networks usually charge a 1% conversion fee on all foreign transactions. Individual merchants may also charge supplemental fees if you ask them to convert the price of an item to your home currency at checkout. 2. Calculate it Manually The other option is to do the calculation manually using a simple mathematical formula. However, in order to do this, you need to know the current exchange rate. At the time of writing, ₱1 is equal to $0.017. Once you know that information, multiply the amount you have in PHP by the current exchange rate. The resulting number will show you the amount of dollars that you have to spend on your trip. Manual Currency Conversion Example Let’s say you have ₱5,000 and would like to figure out how many dollars you have for a trip to the States. Using the current exchange rate, the formula for your conversion would look like this: ₱5,000 PHP x 0.017 = $85 USD How to Buy USD When you’re ready to buy USD, it’s a good idea to plan ahead to ensure that you pay the fewest fees. Here are two ways to get the currency you need while minimizing the fees you’ll be charged: Exchange at a bank before your trip: Heading to your bank before your trip is often the most cost-effective way to exchange currency. Since you have an existing relationship with them, your bank is likely to give you the best exchange rates and charge the lowest fees. For example, BPI offers exchanges into multiple currencies, including USD, EUR and GBP. Use an ATM abroad for withdrawals: If you need to exchange more money while you’re on your trip, you can do so at an ATM. Be sure to check the fine print with your banking agreement to understand any exchange rate charges and out-of-network charges you may incur during a foreign ATM withdrawal. What to Avoid When Exchanging Currency Exchanging currency at the airport: While exchanging currency at the airport is unquestionably convenient, these kiosks often offer some of the worst exchange rates while charging some of the highest fees. Exchanging currency in a street kiosk: Some major American cities offer exchange kiosks that look like ATMs that allow you to exchange currency while on the go. Still, you’ll likely pay a premium to use one of these convenient locations. Next Up:
9083	dbpedia	3	10	https://gadttravel.com/blog/philippines-currency-the-philippine-peso/	en	Philippines currency – the Philippine peso	https://gadttravel.com/b…ured-Image-1.jpg	https://gadttravel.com/b…ured-Image-1.jpg	[ "https://gadttravel.com/blog/wp-content/uploads/2022/06/logo-transparent.png", "https://gadttravel.com/blog/wp-content/uploads/2020/08/francis-67x67.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/20_Pesos_Note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/50-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/100-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/200-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/500-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/1000-peso-note.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/One-peso-coin.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/5-peso-coin.jpg", "https://goasiadaytrip.com/blog/wp-content/uploads/2019/06/10peso-coin.jpg", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Southeast_Asia_destinations.png", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Featured_Image-1.jpg", "https://gadttravel.com/blog/wp-content/uploads/2019/06/Featured_Image_What_to_Do-3.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/12/vietnam-family-tour-1-67x67.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/11/anh-67x67.jpg", "https://gadttravel.com/blog/wp-content/uploads/2023/09/16-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/09/1-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/08/Vietnam-weather-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/08/Vietnam-evisa-67x67.png", "https://gadttravel.com/blog/wp-content/uploads/2023/07/Khanh-Van-67x67.png", "https://www.tripadvisor.com/img/cdsi/img2/branding/150_logo-11900-2.png", "https://images.dmca.com/Badges/dmca_protected_sml_120m.png?ID=877b105f-423c-41f8-b67b-90734128c3e7", "https://gadttravel.com/blog/wp-content/uploads/2022/06/logo-transparent.png" ]	[]	[]	[ "" ]	null	[ "Francis Port", "Linh Nguyen", "Ellie Nguyen" ]	2019-06-17T04:50:58+00:00	Before your trip to Philippines you are probably asking what is the Philippines currency...	en	https://gadttravel.com/b…dard-1-32x32.png	Gadt Travel	https://gadttravel.com/blog/philippines-currency-the-philippine-peso/	When you travel abroad, you should be careful to the local currency of the country you are going to. Indeed, you should have an idea of the conversion rate between the local currency of the country you are going to and the currency of the country you are coming from. Thereby, it will help you a lot to have an idea of the cost of things when you will be in this new country. Let’s have a look at the Philippines currency which is the Philippine peso or piso in Filipino. Main information The symbol of the Philippines currency is a P crossed by two lines: “₱”. This letter is coming from the first letter of the currency name: “Peso”. The official code of the Philippines currency is PHP that is referring to its name: Philippine Peso. Here are some conversion rates of the Philippine Peso with other popular currencies: $1 (USD) = ₱52 €1 (EUR) = ₱58 ¥1 (JPY) = ₱0.50 £1 (GBP) = ₱66 $1 (AUD) = ₱36 元1 (CNY) = ₱7.50 The Philippines currency is subdivided into 100 centavos such as the Euro (€) currency. Indeed, you will find 6 different types of banknotes and 7 different types of coins. You must be careful to don’t mix them up. Banknotes Twenty-peso note (₱20) The twenty-peso note is easy to recognize with its flashy orange colour. On the front side of the note you will see the Philippine President named Manuel Quezon. Quezon was the president of the Commonwealth of the Philippines between 1935 and 1944. He was the first Filipino to head a government of the entire Philippines. On the back of the note you will see natural elements such as the Banaue Rice Terraces and the palm civet. ₱20 = $0.40\|€0.34\| ¥42\|£0.30\|$0.56 (AUD)\|元2.67 Fifty-peso note (₱50) As for the twenty-peso note, the fifty-peso note is quite easy to recognize with its flashy red. On the front side of the note you will see the fourth president of the Philippines (1944-1946), named Sergio Osmeña Sr. who succeeded to Manuel Quezon. On the reverse side of the note you will also see natural elements. This time it’s the Taal Lake and the giant trevally (fish). ₱50 = $1\|€0.85\| ¥104\|£0.75\|$1.40 (AUD)\|元6.70 One hundred peso note (₱100) We stay in the flashy colours with the one hundred-note as it’s coming in purple. On the front of the note you will see the face of Manuel Roxas who was the third and last president of the Commonwealth of Philippines and the first president of the independent third Philippine Republic (1946 – 1948). On the reverse side of the note, you will see the Mayon Volcano and the whale shark. ₱100 = $2\|€1.70\| ¥208\|£1.50\|$2.80 (AUD)\|元13.40 Two hundred peso note (₱200) The ₱200 note is quite rare and used unfrequently. It’s coming in light green and is also quite flashy. On the front of the note you can see the Ninth President of the Philippines from 1961 to 1965 named Diosdado Macapagal. On the reverse side of the note you will find the Chocolate Hills as well as the Philippine Tarsier. ₱200 = $4\|€3.40\| ¥416\|£3\|$5.60 (AUD)\|元26.80 Five hundred peso note (₱500) The ₱500 note is coming in a dark yellow / orange colour. On the front of the note you can see the senator Benigno Aquino Jr. and his wife, President Corazon Aquino. On the reverse side of the note, you will see the Puerto Princesa Subterranean River National Park and the blue-napped parrot. ₱500 = $10\|€8.50\| ¥1040\|£7.50\|$14 (AUD)\|元67 One thousand peso note (₱1,000) The ₱1,000 note is the biggest note of the Philippines currency and is coming in a light blue colour. On the front side of the note you will find three people. The first one is José Abad Santos, the fifth Chief Justice of the Supreme Court of the Philippines. He was also a Commander in Chief of the Armed Forces of the Philippines during World War II. The second one is Vicente Lim, a Filipino Brigadier General and a hero during Wold War II. The third and last person is a woman called Josefa Llanes Escoda, known as a Filipino advocate of women’s suffrage. On the reverse side of the note, you will see the Tubbataha Reefs Natural Park and the South Sea pearl. ₱1,000 = $20\|€17\| ¥2080\|£15\|$28 (AUD)\|元134 Coins Philippine one-peso coin (₱1) The ₱1 coin is made from steel. On its current version (2018), you can see the face of José Rizal a Filipino Nationalist considered as a hero, on the front of the coin. On the reverse side of the coin, you can see the Waling-waling orchid as well as the logo of the Bangko Sentral ng Pilipinas. ₱1 = $0.019\|€0.017\|¥2.10\|£0.015\|$0.028 (AUD)\|元0.13 Philippine five-peso coin (₱5) As the one-peso coin, the ₱5 coin is made from steel. On the front of the coin, we can see the face of Andrés Bonifacio who was a Filipino revolutionary leader. On the reverse side of the coin we can see the Tayabak which is a Philippine vine as well as the logo of the Bangko Sentral ng Pilipinas. ₱5 = $0.095\|€0.085\|¥10.50\|£0.075\|$0.140 (AUD)\|元0.65 Philippine ten-peso coin (₱10) As for the others, the 2018 version of the ₱10 coin is made from steel. On the 2018 version, we can see on the front face of the coin, the face of Apolinario Mabini who was a Filipino revolutionary leader. On the reverse side of the coin, we can see the flower “Kapa-kapa” as well as the logo of the Bangko Sentral ng Pilipinas. ₱10 = $0.190\|€0.170\|¥21\|£0.150\|$0.280 (AUD)\|元1.30 Others It also exists coins of 1¢, 5¢, 10¢ and 25¢ but they are rarely used.
9083	dbpedia	0	45	https://markets.businessinsider.com/currency-converter/united-states-dollar_philippine-peso	en	US-Dollar to Philippinischer Peso Conversion	https://markets.business…FacebookIcon.jpg	https://markets.business…FacebookIcon.jpg	[ "https://markets.businessinsider.com/images/unsortiert/bitcoin-colorful-red.jpg", "https://markets.businessinsider.com/images/unsortiert/ethereum-merge.jpg", "https://markets.businessinsider.com/public/assets/MI/logos/MI-logo-dark-new.svg", "https://markets.businessinsider.com/public/assets/MI/logos/MI-logo-dark-new.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/facebook.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/facebook.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/twitter.svg", "https://markets.businessinsider.com/public/assets/BI/US/icons/twitter.svg", "https://markets.businessinsider.com/public/assets/logos/stacked-black.svg", "https://markets.businessinsider.com/public/assets/logos/stacked-black.svg", "https://markets.businessinsider.com/public/assets/shared/privacy-options.svg", "https://markets.businessinsider.com/public/assets/shared/privacy-options.svg", "https://markets.businessinsider.com/public/assets/INSIDER/US/logos/Insider-logo-dark-opt.svg", "https://markets.businessinsider.com/public/assets/INSIDER/US/logos/Insider-logo-dark-opt.svg" ]	[]	[]	[ "" ]	null	[]	2024-08-19T00:00:00		en	/apple-touch-icon.png	markets.businessinsider.com	https://markets.businessinsider.com/currency-converter/united-states-dollar_philippine-peso
9083	dbpedia	0	53	https://www.makemytrip.com/tripmoney/currency/philippine-peso	en	MakeMyTrip			[]	[]	[]	[ "" ]	null	[]	null		en			null
9083	dbpedia	3	51	https://www.moneygram.com/mgo/us/en/	en				[]	[]	[]	[ "" ]	null	[]	null					null
9083	dbpedia	1	33	https://dsbb.imf.org/sdds/dqaf-base/country/PHL/category/EXR00	en	Dissemination Standards Bulletin Board			[ "https://dsbb.imf.org/sdds/dqaf-base/country/PHL/category/content/images/header/imf_seal.png", "https://dsbb.imf.org/sdds/dqaf-base/country/PHL/category/content/images/header/imf.png", "https://dsbb.imf.org/sdds/dqaf-base/country/PHL/category/content/images/footer/footer_seal.png" ]	[]	[]	[ "" ]	null	[]	null					null	News All News IMF News Articles Communiqués Mission Concluding Statements Press Releases Statements at Donor Meetings Transcripts Views & Commentaries See Also: iMFdirect Blog Article IV Consultations Financial Sector Assessment Program (FSAP) Seminars, Conferences, & Other Events For Journalists Press Center The IMF Press Center is a password-protected site for working journalists. Login or Register Information of interest
9083	dbpedia	0	90	https://www.travelmoneyoz.com/exchange-rate/php	en	AUD to PHP Exchange Rate	https://www.travelmoneyo…02%20700x300.jpg		[ "https://www.travelmoneyoz.com/sites/all/modules/custom/fcl_media/assets/blanky.gif", "https://www.travelmoneyoz.com/sites/all/modules/custom/fcl_media/assets/blanky.gif", "https://www.travelmoneyoz.com/sites/v1.travelmoneyoz.com/files/GettyImages-822326502%20700x300.jpg", "https://www.travelmoneyoz.com/sites/v1.travelmoneyoz.com/files/G_Philippines_174888856%20700x300.jpg", "https://www.travelmoneyoz.com/sites/v1.travelmoneyoz.com/themes/custom/fcl_tmoz/logo-footer.png", "https://www.travelmoneyoz.com/sites/v1.travelmoneyoz.com/files/Flight_Centre_Brand-Black.png" ]	[]	[]	[ "" ]	null	[]	null	Buy Pesos online and get same-day delivery or collection. Head to any of our stores Australia-wide to buy PHP, fee and commission-free! View rates for 1 AUD to PHP now and get the best AUD to PHP exchange rate.	en	https://www.travelmoneyoz.com/sites/v1.travelmoneyoz.com/files/favicon_0.ico		https://www.travelmoneyoz.com/exchange-rate/php	Facts about the currency The smallest currency unit is called ‘centavo’ in Philippine English. Following the adoption of the “Pilipino series” in 1967, it became officially known as “sentimo” in Filipino. In 2009, Bangko Sentral ng Pilipinas (BSP) announced that it had launched a massive redesign for current banknotes and coins to further enhance security features and improve durability. In the 1950s, the exchange rate was 2 pesos against the US dollar. The fluctuating free rate was abolished in 1965 and several devaluations followed. A 10% service charge is automatically added to the bill at some restaurants, but leaving a little extra tip is always appreciated. Travellers entering the Philippines are limited to taking up to 10,000 pesos without prior authority from the Bangko Sentral ng Pilipinas (the central bank of the Philippines). The same restriction applies when you leave. If you’re carrying any foreign currency in excess of US 10,000, it must be declared.
9083	dbpedia	0	3	https://wise.com/gb/travel-money/philippine-currency	en	Currency in the Philippines: A Complete Guide	https://wise.com/imagina…d23-6Z4A5041.jpg	https://wise.com/imagina…d23-6Z4A5041.jpg	[ "https://wise.com/web-art/assets/illustrations/house-small@2x.webp", "https://wise.com/web-art/assets/flags/gb.svg", "https://wise.com/imaginary-v2/images/db8bbd51ceebd3196b16e22709589d23-6Z4A5041.jpg", "https://wise.com/imaginary-v2/images/ebdeac6cb5c5e658f02a51d475177ee4-placeholder.png", "https://wise.com/imaginary-v2/images/514f185a48a07755f0fde21a7b372ba2-Card_Scene13_2211223.png", "https://wise.com/imaginary-v2/images/cb4ccba6da4f6037b9e4edba4a0216ff-@2x-multicurrency-web.png", "https://wise.com/imaginary-v2/images/d0e06565de351016e8dd6cda7661021f-1.svg", "https://wise.com/imaginary-v2/images/d0e06565de351016e8dd6cda7661021f-1.svg", "https://wise.com/imaginary-v2/images/3d84c5c90d6d3bfd850db3441099eca5-2.svg", "https://wise.com/imaginary-v2/images/3d84c5c90d6d3bfd850db3441099eca5-2.svg", "https://wise.com/imaginary-v2/images/4f595132479a21c8973071c7a361e0ca-3.svg", "https://wise.com/imaginary-v2/images/4f595132479a21c8973071c7a361e0ca-3.svg", "https://wise.com/imaginary-v2/images/c4c2f360f7753a98d65fbae00d3de5e6-4.svg", "https://wise.com/imaginary-v2/images/c4c2f360f7753a98d65fbae00d3de5e6-4.svg", "https://wise.com/imaginary-v2/images/cb4ccba6da4f6037b9e4edba4a0216ff-@2x-multicurrency-web.png", "https://wise.com/imaginary-v2/images/c4a4493175fa7b108159cb00f1638d2d-6Z4A55001.png", "https://wise.com/imaginary-v2/images/882feda0e126fc6b00685c20c623dfa7-Switch.png", "https://wise.com/imaginary-v2/images/ba10b8ae6f117145c82b93e2ce6b29c7-Money.png", "https://wise.com/imaginary-v2/images/47ca419451ac06c774fdb72f91889d71-Graph.png" ]	[]	[]	[ "" ]	null	[]	null	Heading to the Philippines? Find out what currency is used in the Philippines, tips and tricks for Philippine currency exchange, and spending and saving money on your visit.	en	https://wise.com/public-…onal/favicon.png	Wise	https://wise.com/gb/travel-money/philippine-currency	The currency in the Philippines is the Philippine peso. Each peso is divided into 100 sentimos. When you’re buying currency for the Philippines, look out for the currency code PHP. And once you’re in the Philippines, you’ll see the symbol ₱ used to show prices. You’ll find Philippine banknotes in denominations of 5, 10, 20, 50, 100, 200, 500 and 1000 - although the 5 and 10 PHP notes are seldom used. There are also 1, 5 and 10 peso coins. Sentimos come in coins of 1, 2, 5, 10 and 25. The Wise Philippine peso travel money card lets you top up in your local currency, and switch to peso to spend when you’re in the Philippines. You’ll get the best rate for spending in Philippine peso - and can also hold and spend 40+ other currencies with the same card. Get your Wise travel money card online for free, to send and spend money around the world at the mid-market exchange rate. Simply top up your card and convert to the currency you need in real time using the Wise app. You’ll always get the mid-market exchange rate with no hidden costs, and you’ll avoid foreign transaction fees while withdrawing from ATMs abroad, paying in restaurants and shops, and buying your accommodation and flights. Learn more about the Philippine peso card Paying by credit or debit card in the Philippines Cards can be used in bigger cities and in major tourist resorts in the Philippines - but carrying cash as an alternative and for smaller purchases is a good plan. ATMs in the Philippines It's surprisingly tricky to find a functioning ATM outside of the major cities in the Philippines - you may even struggle on popular tourist islands. Stock up on local cash when you're in the cities to make sure you don't run out as you travel. To get the best deal when spending on card or withdrawing money in the Philippines, don’t forget to use the Wise travel money card to avoid sneaky exchange rate markups and excessive fees.
9083	dbpedia	2	89	https://www.explained.ph/2022/07/explainer-increasing-dollar-peso-exchange.html	en	EXPLAINER: The Increasing Dollar-Peso Exchange	https://blogger.googleus…eso%20Change.jpg	https://blogger.googleus…eso%20Change.jpg	[ "https://blogger.googleusercontent.com/img/a/AVvXsEhYBXrDxOgBT8Fu64KZWnFsPisEmM2pa4Rao5RxvqwMdmPkJHZE1GxE65SZB3H0Y_Q294feGmwmmoPEMZsvWjrtT28-KtfzzliOdXPQ3gCPuQsWLyzxLfcWAAM_KfSxKmSkJE8pdlP43W5w-5uhVkLw78GV_OThDB6c1Hrd_SwernJ8lzfH4HubYUw3=s1050", "https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW2Fccl9g6tcUfozKZm7WNN4qCfWKOlFI0AXZCJ5G-FOf9iUfmiitfE-P1yXn0F0yDYKAIU2tXg3p1lYT8BZpafOzslTQeY2zmeKWXXZNbWp1tOkO9afnPhIFW8OcEHG8BDBOv5AR6GcrsYhWW7lDDYWqj-OFaDbj7TIC4Xhux1NPHXO83ZhkCqQo5VQ/w632-h355/Dollar-Peso%20Change.jpg" ]	[]	[]	[ "" ]	null	[ "Explained PH" ]	2022-07-20T23:47:00+08:00	Empowering youth-driven and community-oriented journalism.	en	https://www.explained.ph/favicon.ico	Explained PH \| Youth-Driven Journalism	https://www.explained.ph/2022/07/explainer-increasing-dollar-peso-exchange.html	By Jude Aldrich Allaga It takes only an American dollar to feed a child dinner, but a Philippine peso to leave them starving for the night. This is the plight of today’s Philippine Peso: how its value in the foreign market dictates which Filipinos can get by, but more so, who won’t. The Peso’s Pedigree What once was labeled as “salapi,” the Philippine currency was represented by gold bits used within the country’s rural island communities, until the Spaniards introduced the “Spanish Peso,” becoming the primary currency in 1565. The “salapi” was retained but seen only as a half-peso coin. The “centavo” coin was introduced once the Philippines claimed its independence in 1898, but lost its usage during the American colonization. Spanning two world wars and Japanese occupation, the Philippines finally regained its independence in 1946 and established the Bangko Sentral ng Pilipinas three years later. Now, we retain the “Peso” currency, with “centavo” as our “sentimo” or monetary subunit. Explaining the External Exchange The Philippine Peso maintains its foreign relations, however, as it can be exchanged into different values depending on other currencies; this is the “exchange rate,” which, described by Bangko Sentral ng Pilipinas, is “the price of a unit of foreign currency in terms of the domestic currency.” This exchange rate links international markets and investors and affects the price and inflation of basic commodities such as salt, rice, and sugar and imports such as crude oil. Its demand, or appreciation, alongside its depreciation, or devaluing, holds weight and cements the Philippines in the international bank. Furthermore, an appreciation or depreciation of the Peso impacts trade, service costs, and other external sectors. Yet, despite the mandate that both the government and the Bangko Sentral ng Pilipinas may have on our monetary exchange, they cannot dictate the exchange rate, but the Philippine Peso’s participation in the foreign exchange market does. For instance, when buying US dollars while demand for it is quite low, it would cost less than when buying US dollars for imports. Thus, an appreciation for the US dollar would mean a depreciation of the Philippine Peso. Aside from demand and devaluation, however, many other factors contribute to our current fluctuations in exchange rates. Ties of Trade In relation to the demand for currency, demand for a country’s exports can likewise increase, making their currency more appreciated or “firmer.” In other words, an increase in Philippine exportation would require less Philippine Pesos per US Dollar. The Philippines, which heavily relies on imports however, suffers tremendously as a demand for the US Dollar rises instead. 1) Socioeconomic Stability
9083	dbpedia	3	8	https://www.globocambio.co/en/currencies-of-the-world/philippine-peso	en	Philippine Peso	https://www.globocambio.co/documents/20151/31618/favicon.png/54a53a66-bc81-dbec-5206-5cee30bb0cd9?t=1667562804900	https://www.globocambio.co/documents/20151/31618/favicon.png/54a53a66-bc81-dbec-5206-5cee30bb0cd9?t=1667562804900	[ "https://www.globocambio.co/documents/20151/31618/icon-telefono-30x30.png/6e34af50-41de-3ad5-dfe0-e9a2b1f69d65?t=1623407806408", "https://www.globocambio.co/documents/156238/267843/popup-co-en.png/1bfd18a5-6cd7-346a-6ba6-13f747ab0da1", "https://www.globocambio.co/documents/20151/31618/icon-arroba-azul-30x30.png/f45df238-09e1-a71f-7c7e-371d9025557b?t=1585128634740", "https://www.globocambio.co/documents/156238/267843/popup-co-en.png/1bfd18a5-6cd7-346a-6ba6-13f747ab0da1", "https://www.globocambio.co/documents/20151/31510/peso-filipino-monedas.jpg/c15ad39a-8c7f-9433-5d58-788bca31ebf0?t=1539761873489", "https://www.globocambio.co/documents/20151/31510/peso-filipino-billetes.jpg/c30d0022-afe8-d145-f906-2daa5071f54f?t=1539761873351", "https://www.globocambio.co/documents/20151/122969/promo02.jpg/58af274f-8576-2ce8-1843-7d87070f816b?t=1553081533997", "https://www.globocambio.co/documents/20151/31483/logo02.jpg/41c7b93a-c4d3-9378-bcad-2263456a2ce5?t=1537774684972", "https://www.globocambio.co/documents/20151/31618/ico01.png/0f25dcb8-65d4-663c-4f3a-a0f147720e8a?t=1623407658418", "https://www.globocambio.co/documents/20151/31618/ico02.png/75a91ed8-6426-221c-c9ac-a278d645d7e4?t=1623407671423", "https://www.globocambio.co/documents/20151/31618/ico03.png/4c6d8b70-3d3a-d6c9-a717-b4571f4ac818?t=1623407685279", "https://www.globocambio.co/documents/20151/31618/ico05.png/e5a9e9c5-128d-25c1-7527-3fb56cb94747?t=1623407707565" ]	[]	[]	[ "" ]	null	[]	null		en	https://www.globocambio.co/documents/20151/31618/favicon.png/54a53a66-bc81-dbec-5206-5cee30bb0cd9?t=1667562804900		https://www.globocambio.co/es/monedas-del-mundo/peso-filipino	The currency of the Philippines (officially, Republic of the Philippines) is called the Philippine Peso. Its ISO 4217 code is PHP and it has PhP or $ as symbol. The issuer of the Philippine Peso is the Central Bank of the Philippines (CBF). The Peso is known in Filipino and Tagalog as "piso" and is divided into 100 cents ("sentimo" in the previous languages). These currencies are issued by the Central Bank of the Philippines. This Central Bank was created by the Republic Act No. 265 on January 3rd, 1949. It is the BCF that manages the banking operations and the country's credit system. In addition, this Act gives the CBF all the powers to print and mint Filipino money since then. Banknotes and coins of the Philippine peso in use The Peso coins are minted in the Security Plant Complex of the Philippines. At present, coins of 1, 5, 10 and 25 cents are in use and those of 1, 2, 5 and 10 pesos are in use. As for the peso notes, they are printed at the Security Plant Complex or at the National Printing Office. At present time, notes of 20, 50, 100, 200, 500 and 1,000 pesos circulate. Did you know? The Philippines has a population of about 102 million inhabitants, being the 12th most populated country in the world. In addition, 11 million Filipinos are currently living abroad. The word "Philippines" derives from the name of King Felipe II of Spain (deformation of "Felipinas"). In addition, the official name of the Philippines has changed several times in the course of its history. Before 1967, the language used in the notes and coins of the Philippines was English. Then it was known as "Peso". But a short time later the name was used in Filipino, changing its name to the "Piso" currency. The Philippine peso has its origins in the Spanish Real of 8 and in the Mexican peso, which circulated widely throughout the Americas and Southeast Asia during the seventeenth and eighteenth centuries.
9083	dbpedia	2	31	https://www.oanda.com/currency-converter/en/currencies/majors/php/	en	Philippine Peso	https://www.oanda.com/favicon.ico	https://www.oanda.com/favicon.ico	[ "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-60.png", "https://www.oanda.com/assets/images/business-icons/trading_colour.e605cf03b993.svg", "https://www.oanda.com/assets/images/business-icons/sfb_colour.6603e1245143.svg", "https://www.oanda.com/assets/images/business-icons/historical-currency-converter.a97b0d5892cd.svg", "https://www.oanda.com/assets/images/business-icons/exchange-rates-api.2c68b5fb640a.svg", "https://www.oanda.com/assets/images/business-icons/oanda_colour.4e08e16458b1.svg", "https://www.oanda.com/assets/images/business-icons/market-pulse_colour.06b80e4bceab.svg", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Dark_NoPadding_v0.01.height-60.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Dark_NoPadding_v0.01.height-60.png", "https://www.oanda.com/assets/images/business-icons/trading_colour.e605cf03b993.svg", "https://www.oanda.com/assets/images/business-icons/sfb_colour.6603e1245143.svg", "https://www.oanda.com/assets/images/business-icons/historical-currency-converter.a97b0d5892cd.svg", "https://www.oanda.com/assets/images/business-icons/exchange-rates-api.2c68b5fb640a.svg", "https://www.oanda.com/assets/images/business-icons/oanda_colour.4e08e16458b1.svg", "https://www.oanda.com/assets/images/business-icons/market-pulse_colour.06b80e4bceab.svg", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-50.png", "https://www.oanda.com/media/images/Apple_Store.height-80.png", "https://www.oanda.com/media/images/Google_Play.height-80.png", "https://www.oanda.com/media/images/OANDA_FXDS_Logo_Light__nopadding_v0.01.height-50.png" ]	[]	[]	[ "" ]	null	[]	null	Get information about the PHP currency. The Philippine peso (PHP), or ‘piso’ in Filipino, is the official currency of the Philippines. The symbol of the Philippine peso is ₱.	en	/favicon.ico		https://www.oanda.com/currency-converter/en/currencies/majors/php/	Description The Philippine peso (PHP), or ‘piso’ in Filipino, is the official currency of the Philippines. It's subdivided into 100 centavos, or ‘sentimos’ in Filipino. The symbol of the Philippine peso is ₱.
9083	dbpedia	0	28	https://www.cnbc.com/quotes/PHP%3D	en	PHP=: US Dollar/Philippine Peso FX Spot Rate	https://sc.cnbcfm.com/ap…04&w=1920&h=1080	https://sc.cnbcfm.com/ap…04&w=1920&h=1080	[ "https://static-redesign.cnbcfm.com/dist/7821ea3cb72f88388591.svg", "https://static-redesign.cnbcfm.com/dist/2469ed0a9a4cafdf055e.svg", "https://static-redesign.cnbcfm.com/dist/2469ed0a9a4cafdf055e.svg", "https://static-redesign.cnbcfm.com/dist/e20a86c8296962374986.svg", "https://static-redesign.cnbcfm.com/dist/4ee243ff052e81044388.svg", "https://static-redesign.cnbcfm.com/dist/7bfb09d729f4a90936a2.svg", "https://static-redesign.cnbcfm.com/dist/7821ea3cb72f88388591.svg", "https://static-redesign.cnbcfm.com/dist/17269f1b6083fd5f61be.svg", "https://static-redesign.cnbcfm.com/dist/09c161b9810767a7849e.svg" ]	[]	[]	[ "US Dollar/Philippine Peso FX Spot Rate", "PHP=", "STOCK markets", "CNBC" ]	null	[ "www.facebook.com" ]	null	Get US Dollar/Philippine Peso FX Spot Rate (PHP=:Exchange) real-time stock quotes, news, price and financial information from CNBC.	en	https://sc.cnbcfm.com/applications/cnbc.com/staticcontent/img/favicon.ico	CNBC	https://www.cnbc.com/quotes/PHP=
9083	dbpedia	2	27	https://capital.com/usd-to-php-forecast	en	Will USD/PHP Go Up or Down?	https://img.capital.com/…k_1862139214.jpg	https://img.capital.com/…k_1862139214.jpg	[ "https://static.capital.com/capital-release-c-20240807-3/images/logos/capital-app.png", "https://static.capital.com/capital-release-c-20240807-3/images/icons/cloud.svg", "https://static.capital.com/capital-release-c-20240807-3/images/logos/capital-app.png", "https://static.capital.com/capital-release-c-20240807-3/images/icons/cloud.svg", "https://img.capital.com/imgs/articles/662x308x0/shutterstock_1862139214.jpg", "https://img.capital.com/imgs/articles/750xx/PHP-forecast-MCT-7981.png 1x, https://img.capital.com/imgs/articles/1350xx/PHP-forecast-MCT-7981.png 2x", "https://img.capital.com/imgs/articles/750xx/PHP-forecast-MCT-7981_2.png 1x, https://img.capital.com/imgs/articles/1350xx/PHP-forecast-MCT-7981_2.png 2x", "https://img.capital.com/imgs/articles/750xx/PHP-forecast-MCT-7981_3.png 1x, https://img.capital.com/imgs/articles/1350xx/PHP-forecast-MCT-7981_3.png 2x", "https://static.capital.com/capital-release-c-20240807-3/img/icons/like-icon.svg?v=20240819_120600", "https://static.capital.com/capital-release-c-20240807-3/img/icons/like-icon.svg?v=20240819_120600", "https://img.capital.com/imgs/articles/88x88x1/Gr_0.png", "https://img.capital.com/imgs/articles/88x88x1/pce29.png", "https://img.capital.com/imgs/articles/88x88x1/pound-euro_0.png", "https://img.capital.com/imgs/articles/88x88x1/image1_16.png", "https://img.capital.com/imgs/articles/88x88x1/small-shutterstock_1842179239-min.jpg", "https://img.capital.com/imgs/articles/88x88x1/shutterstock_2138762345.jpg", "https://img.capital.com/imgs/articles/88x88x1/shutterstock_93122125.jpg", "https://img.capital.com/imgs/articles/88x88x1/shutterstock_1187632372.jpg", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#investing", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#reuters", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#deloitte", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#tradingview", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#applemarket", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/trustLogos.svg?v=20240819_120600#google", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#apple-pay", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#visa", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#mastercard", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#wire", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#pci", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#worldpay", "https://static.capital.com/capital-release-c-20240807-3/images/spriteSvg/payments.svg?v=20240819_120600#trustly" ]	[]	[]	[ "" ]	null	[ "Kathryn Davies" ]	2022-11-29T13:03:00	After falling to an all time low against the USD in 2022, has the worst passed? Read on for the latest USD/PHP forecast…	en	https://static.capital.c…e-icon-57x57.png		https://capital.com/usd-to-php-forecast	After rising to an all-time high against the US dollar (USD) in September 2022, the Philippine peso (PHP) has fallen slightly in 2023. Year-to-date the PHP has dropped -0.58% aganist the USD. Here we look at the latest moves in the Philippine peso, Southeast Asia’s world performing currency this year, what fuelled those moves and analysts’ US dollar to Philippine peso forecasts. What is the Philippine peso? The Philippine peso (PHP), is the national currency of the Republic of the Philippines. The currency was pegged against the US dollar until 1993, when the New Central Bank Act of 1993 set the peso on route to becoming a free-floating currency. A free-floating exchange rate means that the value of the PHP is determined by the interbank foreign exchange markets, in other words, by supply and demand. This means that if more Philippine pesos are demanded than offered, the price of the peso would rise and vice versa. What is USD/PHP? The exchange rate USD/PHP tells us how many Philippine pesos equal one US dollar. For example, if USD/PHP was 59.00, this means that 1 USD is equivalent to 59 Philippine pesos. What influences the Philippine peso? As with many currencies, the value of the peso depends on central bank action, raising or lowering interest rates. The central bank considers growth, inflation rates, and the trade balance, among other economic factors, to set monetary policy. In addition to addressing interest rates, the Philippine Central Bank can intervene in the forex market to curb excess volatility and stem depreciation or appreciation of the PHP, if deemed necessary. The trade deficit and central bank reserves can influence the value of the Philippine peso. As well as the PHP, the value of the USD is also relevant, and whether the US Federal Reserve (Fed) is hiking or cutting interest rates can also influence the exchange rate. USD/PHP price history USD/PHP has been steadily climbing since early 2013, when the pair traded at 40.00. By 2015, the peso had weakened to 45.00 against the dollar, and the pair reached 50.00 in early 2017. From there, USD/PHP climbed to 54.40 in October 2018, before the Philippine peso strengthened again, taking the pair to 47.70 in June 2021. From this five-year low, USD/PHP climbed sharply higher across 2022, hitting an all-time peak of 59.21 on 28 September. Since then, the pair has fallen lower, starting 2023 at 55.70 and standing at 55.98 as of 17 April 2023. Latest Philippine peso developments The Philippine peso has remained at relatively consisent levels so far in 2023. However, weakness could persist amid a widening trade deficit as interest rates increase, which, combined with rising inflation, could hurt consumer demand and growth prospects. The Philippine Statistics Authority reported on 7 March that the country's headline inflation rate marginally slowed down to 8.6 percent in February 2023 from 8.7 percent in January 2023, as price increases of certain food commodities and energy eased. As a result, the Philippine central bank stayed in an inflation-fighting mode in March, raising its benchmark interest rate by 25 basis points to 6.25%, but said its next policy decision will depend largely on how consumer prices behave in the coming months. The Philippines has experienced one of the fastest rates of inflation in Southeast Asia at 8.7%, which comes as the peso is one of the worst-performing currencies in the region. The Philippine central bank, the Bangko Sentral ng Pilipinas (BSP), has hiked rates by 375 basis points (bps) since June 2022, to cool inflation and support the peso. Given that the Philippines is very dependent on imported food and energy, a weak peso can raise imported inflation, making the economic backdrop worse. At the most recent monetary policy meeting in February, the Philippine central bank raised interest rates by 50 bps, taking the overnight rate to 6% – its highest level in 15 years. BSP governor Felipe Medalla has vowed to match any move by the Fed in the coming months and maintain a 100 bps differential with the Fed fund target rate. The weaker peso has meant that the cost of importing staples such as fuel and rice has surged, lifting inflation to its highest level since December 2008. Rising commodity prices have also widened the trade deficit to a record level. According to the BSP, the trade balance and current account are expected to remain in deficit in 2023. The BSP forecast the trade balance could widen to $19bn in 2022 and $20bn in 2023. Economic growth in the Philippines was strong in the first half of 2022, boosted by the economy reopening after the Covid-19 pandemic and election-related spending. However, in the year’s second half, the economy experienced more headwinds as soaring inflation and rising borrowing costs weighed on growth. Analysts at ING forecast inflation could remain at 5.6% in 2022 and 5% in 2023. This could translate to growth of 5.9% in 2022 and 4.4% in 2023. Recent USD decline The USD has fallen steeply in recent months after inflation in the US started to cool. The US March Consumer Price Index (CPI) rose 5.0 percent from a year earlier, easing from a 6.0 percent advance the month before and missing market expectations forecasts of a 5.2 percent increase. The headline inflation eased for a ninth consecutive month to the lowest level since May 2021, led by a sharp decline in the cost of energy. On 22 March, the Federal Reserve announced that it's raising interest rates by 0.25 percentage point, following its March 21-22 meeting, bumping the federal funds rate to a target range of 4.75 to 5.0 percent. But investors are growing increasingly convinced that the Fed could start slowing the pace of rate hikes. The US dollar index (DXY), which measures the dollar against a basket of major peers, has fallen almost 1.24% YTD. The weaker USD and slower expected pace of hikes take the pressure off other global central banks to raise rates as aggressively. US dollar index (DXY) live chart USD/PHP forecast As of 28 November, analysts at Trading Economics, in their USD/PHP forecast, expected the pair to strengthen. They forecast the pair could be at 56.09 by the end of the current quarter and 57.89 in 12 months. According to ANZ Research, The peso is likely to face less choppy waters in 2023 after emerging as one of the worst performing currencies in Asia this year when the external position of the Philippines deteriorated significantly. ANZ Research said: “Ready to Rebound Even if Growth Slows.” ANZ reserach forecast that the peso is seen strengthening steadily to 55.50 in June 2023, then to 55.20 in September and 55 in December. The appreciation would extend to 54.80 in March 2024 to 54.60 in June, 54.40 in September and 54.20 by end-December 2024. The USD/PHP prediction from algorithm-based forecaster Wallet Investor also forecast that the peso could strengthen. It had USD/PHP ending this year at 57.445. In the longer term, its US dollar to Philippine peso forecast for 2025 saw the rate rising to 61.674 by the end of the year. In contrast, algorithm-based service AI pickup’s USD/PHP forecast for 2025 saw the currency strengthening to 51.03 that year. The service’s USD/PHP forecast for 2030 saw the peso strengthening to 48.96. Analysts at ING also saw the Philippine peso strengthening over the longer term. However, they forecast that USD/PHP could fall to 52.50 in the second quarter of 2023, before steadily rising to 51.50 by Q4 2025. Meanwhile, a senior analyst at MUFG, Jeff Ng, was more upbeat about the economic outlook for the Philippines, forecasting economic growth of 7.5% to 8%. Ng told a press conference that he expected the factors that affected growth, such as high inflation, a wider current account deficit, and a weaker peso, would likely normalise next year. He predicted the BSP end rate at 5.5% by the end of December, with no more BSP hikes next year. Ng also said in the previous P61 to the US dollar forecast under review after the recent US dollar weakness, which has allowed “scope for stability around current levels close to P57”. Note that analysts’ predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before trading. And never invest or trade money you cannot afford to lose. FAQs
9083	dbpedia	1	25	https://www.smallworldfs.com/en/blog/what-is-the-currency-of-the-philippines	en	The Philippine peso: the currency of the Philippines	https://www.smallworldfs…ilippine_(1).jpg	https://www.smallworldfs…ilippine_(1).jpg	[ "https://www.smallworldfs.com/assets/www/pictures/small-world-money-transfer-blue.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-money-transfer-blue.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-money-transfer-white.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-white.png", "https://www.smallworldfs.com/assets/www/images/icons/facebook-share-icon.png", "https://www.smallworldfs.com/assets/www/images/icons/twitter-share-icon.png", "https://www.smallworldfs.com/assets/www/images/icons/linkedin-share-icon.png", "https://www.smallworldfs.com/filemanager/userfiles/blog/philippines-currency-moneta-filippine_(1).jpg", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-white.png", "https://www.smallworldfs.com/assets/www/pictures/appstore-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/appstore-sprite.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_on.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_off.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_on.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_off.png" ]	[]	[]	[ "" ]	null	[ "SmallWorld", "www.smallworldfs.com" ]	2021-10-08T00:00:00	How do you send money to The Philippines? What is the currency in The Philippines? Learn everything you need to know about the Philippine peso.	en	/assets/www/images/favicon/apple-touch-icon.png	Small World Money Transfer	https://www.smallworldfs.com/en/blog/what-is-the-currency-of-the-philippines	The Philippines is a country of around 7,640 islands scattered across the western Pacific Ocean. If you have family and friends living in the Philippines, or you’re thinking about travelling there, you may want to know a bit more about the country. Learning about the currency of the Philippines is a great place to start. In this blog we’ll be exploring everything you need to know about the currency of the Philippines. Below you’ll learn about: The Filipino local currency, the Philippine peso How is the Philippine peso recognised? The history of the Philippine peso The Philippine peso today Exchange rates How can I send money to The Philippines from the United States? What currency does the Philippines use? The currency of the Philippines is the Philippine peso. The currency is also commonly referred to by its Filipino name: piso. The currency of the Philippines was for a long time tied up with currencies of Spanish and American colonists. But now the Philippine peso is controlled and issued by the central bank, Bangko Sentral ng Pilipinas (BSP). The Philippine peso is printed and minted at The Security Plant Complex. The colourful peso notes are very distinctive and feature several notable figures from Filipino history. How is the Philippine peso recognised? The Philippine peso is recognised by the sign: ₱ and the currency is internationally recognised by the code PHP. Alternative symbols are also used including: “PhP”, “Php” or “P”. The subunit for the Philippine peso is called the Sentimo or Centavo, which subdivides into 1 peso one hundred times. However, the smaller denominations are not in widespread circulation and it’s rare to find any 1¢, 5¢, 10¢, 25¢ or ₱20. The frequently used denominations include the ₱20, ₱50, ₱100, ₱500, and the ₱1000. The history of the Philippine peso The currency of the Philippines has had a long and difficult history. Before the Philippine peso, there was the Spanish-Filipino Peso and shortly after that the currency was pegged to half of the US Dollar. It wasn’t until the Central Bank of the Philippines was established in 1949 that the formal Filipino currency was reintroduced to the country. Then in 1967 the English language was removed from the notes and coins of the Philippine peso and the Filipino language was used on all the denominations. As a result the word “piso'' came into common use within the country instead of peso. During the latter half of the twentieth century the Philippines experienced positive economic and political developments which enabled the currency to stabilise and improve. And in 1993 the old Central Bank was replaced with a new Central bank: Bangko Sentral ng Pilipinas whose responsibility was to maintain price stability and help the Philippine peso grow. Although the Philippines endured plenty of overseas interference which saw their currency experience many changes over the years, they now have a more stable currency that is tied to the culture and history of the Philippines. The Philippine peso today The current series of the Philippine peso in circulation is called the New Generation Currency. In 2009, Bangko Sentral ng Pilipinas (BSP) decided it was time for some change and they launched a large-scale redesign of the currency. The new banknotes were an attempt to improve security features and ensure that the currency was more durable. The notes also featured enlarged font size, italicised names, new text and new images. The vibrant and distinct coloring for many of the notes still remains. For example, the bright orange ₱20 note features the famous Filipino statesmen Manuel L. Quezon and the Malacanang Palace on the obverse side, and the famous Banaue Rice Terraces on the reverse side. Similarly, the red ₱50 note depicts the fourth President of the Philippines Sergio Osemña on the obverse side and images of the Taal Lake and the maliputo (giant trevally) on the reverse side. In the last decade some further changes to the peso circulation occurred. In 2016 Bangko Sentral ng Pilipinas (BSP) started to distribute new 100-peso notes that supposedly made it easier to differentiate the colours of the 100-peso and 100-peso banknote. In 2019, Bangko Sentral ng Pilipinas (BSP) also announced that it would convert the ₱20 note into a coin. So we know what the Philippine peso looks like today, but what about it’s worth? To truly understand the state of the Philippine peso today we have to take a look at some exchange rates. Exchange rates It’s useful to compare the Philippine peso to other major currencies around the world. With that knowledge we can work out the general state of the Filipino economy and we can decide when is the best time to send money to the Philippines. In the opening months of 2021 the average exchange rate of the US dollar to the Philippine peso was 1 USD to 48.7 PHP, with a low of 47.5 PHP and a high of 50.9 PHP. In addition, during a similar period in 2021 the average exchange rate of the Euro to the Philippine peso was around 1 EUR to 58.3 PHP. This is useful information to consider when thinking about sending money to the Philippines from the United States. How can I send money to The Philippines from the United States? You can send money to The Philippines with Small World’s simple and effective money transfer service. Now that you have some knowledge of the Philippine peso it will be easier to know where your money is going and how much it is worth in the Philippines. You may still have more questions like, “Where should you buy currency in the Philippines?”, or “How do you send paper currency to the Philippines?”. Thankfully, we’ve got you covered. There are several ways to send money to the Philippines with Small World, including: Bank deposit, Cash Pickup, Cash Card Reload, Airtime Top-up and Home delivery. Small World has facilitated millions of money transfers all around the world. Our money transfer services are available in many major states including California, Texas, New York, New Jersey and Florida. So if you need to support your loved ones in the Philippines, rely on Small World.
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Sandro Marcos in an interview about the weakening of the Peso and the impact of Dollar. The phrase hopes to shed light on the complicated subject of Dollar vs. Peso but fell short in part of the lack of contextualization and simplification. A very complex explanation that has only led to confusion and more questions from the public. Economics is a pretty hard subject, and at times, even the simplest terms are very hard to comprehend. This unfortunate situation leads to ordinary Filipinos taking the worsening crisis of inflation without understanding its complications and the factors that brought upon it. As such, this article give you an introductory explanation of the Dollar vs. Peso conversation, inflation, the impact of Dollar on the Philippine economy, and its effect on Filipinos. Read Also: The Effect of Inflation on Real Estate What are the Dollar and its effect on the Peso? The United States Dollar is the official currency of the United States of America. Before, US Dollars is linked to valuable commodities (silver or gold reserves) to determine their value. However, this system was abolished in 1971, and the Dollar became known as fiat money, which means there would be no external resources linked to the Dollar, and its value will solely be determined by government policy through the Federal Reserve. Read Also: Rising Federal Reserve Rate Hike and Its effect to the Philippines As of now, the current policy of the Federal Reserve is aimed at curbing the inflation that is happening on US soil. Inflation happens when there is an increase in the prices of goods and services. Primarily, it is the supply of money that is currently in circulation that determines inflation. If there is more money in circulation rather than the number of goods and services in the economy, then the demand for these goods and services would lead to an increase in prices. Many factors played a role in the occurrence of inflation. However, there are two events that are considered the most significant. One is the sudden rebound of economic activity as we enter into a post-pandemic era led to a sudden increase in demand that outpaced the supply in the economy. This increase in demand for consumer goods prompted prices to increase generally. Another is the ongoing war in Ukraine that brought serious economic sanctions to Russia that limited the supply of oil and gas in the global market. The inflation currently happening in the United States has prompted the Federal Reserve to increase interest rates, which would help decrease economic activity by making it harder to loan money from banks. This is to basically decrease the supply of money in circulation. In effect, this would discourage people from spending money and decrease demand, making the Dollar strong. However, as this happens, it also affects the world as a result. The United States Dollar is the main currency for international and global markets. In the Philippines, it has some damaging effects, the most obvious of which was the depreciation of the Philippine Peso. Why did the Peso become weak? At the start of October, the Philippines reached its all-time weakest value against the United States Dollar. Now, our currency is worth 59Php against 1USD and could further go down to 65 to 68Php. We now understand that the Dollar’s strength echoes the Philippines, but how does it depreciate the Peso? The weakening of the Peso occurs when the demand for the Dollar increases. The strong demand for the Dollar is what makes it strong. The inflation we have makes foreign goods and services much more expensive. For example, as gas prices continue to increase in the global market, the government would need to spend more Dollars than they take in, leading to a demand for the currency. This happens because the Philippines exchange rate system is ‘floating,’ which means that the exchange rate between the two currencies depends on the current supply and demand of the Dollar. Thus, if the Philippines continues to spend more Dollars due to the rising prices in the global market, then the Philippine Peso will not cease to depreciate in the near future. The increase in interest rates, as discussed earlier, also depreciates the Peso. As interest rates increase, investors will pull out investments in the Philippines. When this happens, there would be more Philippine Pesos in circulation against the Dollar, which would further depreciate its value. Dollar Vs. Peso: Impact on the Philippine economy and ordinary Filipinos A strong Dollar, besides the weakening of the Peso, has other effects on the Philippine economy. This is in part to the fact that the monetary policies of the US echo that of the developing world. The increase in the value of the US Dollar might bring good news, especially for Overseas Filipino Workers (OFWs) or other Filipinos who earn in Dollars. This is because their remittances will be much higher given the increase in exchange rates in the Dollar vs. Peso. This would encourage them to send money to their loved ones and increase the purchasing power of the recipient families. Exporters also share the same sentiment with the increase in the Dollar. It is because the local products that will be sent abroad will become much cheaper to purchase and attractive to foreign consumers. However, there is an existing trade deficit in the Philippines, and the current increase in the prices of oil would only widen the deficit that is happening in the country. Its implications would mean higher prices of oil and consumer goods effects that we currently feel today. Even if it means good news for OFWs and exporters, the government and ordinary Filipinos are not happy about this situation. The government, due to the higher prices of oil, would need to spend more Dollars. At the same time, the government also has to pay its debts which, given the depreciation of the Peso, would mean they would need more spending. In the case of ordinary Filipinos, inflation would mean that the general prices of goods and services will increase. This will greatly affect low to middle-income households as they would be able to buy fewer products with the same amount of income that they had. Worse, this might even lead Filipinos to become poorer, given the economic woes we are facing today. If it continues, what will happen? Given that the crisis affects all of the developing countries, what the Philippine Government can only do is curb the financial squeeze through key monetary policies. Experts believe that the effects of off-cycle responses by the Bangko Sentral ng Pilipinas (BSP) would have effects that would be felt for the following years. Simultaneously, the increase in interest rate, although it would help cool down the economy, would mean less economic activity and, thus, less economic growth. Many experts believe that if the United States continued to flex itself and do well than any other economy, then the US Dollar would not cease to lose its strength. If this continues to persist, then perhaps, the economic pressures that we face will not wane. At the same time, the Philippine Government and the current administration’s economic promises would not come to fruition anytime soon. Written by Angelo Jade Caputolan
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"https://www.thecurrencyclub.co.uk/images/flags-currency/TWD.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/THB.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/TTD.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/TRY.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/AED.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/UYU.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/USD.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/VND.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/PHP.png", "https://www.thecurrencyclub.co.uk/images/common/contact-form-rgt.png", "https://www.thecurrencyclub.co.uk/images/common/contact-form-rgt.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/AUD.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/GBP.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/HRK.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/EUR.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/JPY.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/CHF.png", "https://www.thecurrencyclub.co.uk/images/flags-currency/USD.png", "https://www.thecurrencyclub.co.uk/images/common/tcc-logo.png", "https://www.thecurrencyclub.co.uk/images/common/facebook.png", "https://www.thecurrencyclub.co.uk/images/common/twitter.png", "https://www.thecurrencyclub.co.uk/images/common/instagram.png", "https://www.thecurrencyclub.co.uk/images/common/white-close.png", "https://www.thecurrencyclub.co.uk/images/common/white-close.png" ]	[]	[]	[ "" ]	null	[]	null	Trying hard to get information about the Philippine Pesos? Do not worry here are some few facts which includes its history, date of introduction and denominations.	en	/images/common/favicon.ico		https://www.thecurrencyclub.co.uk/currencies/philippines-peso-php	Top 5 Facts About The Philippine Peso Philippine Pesos Symbol: ₱ \| Code: PHP 1. The national and official currency of the Philippines is the Philippine Peso which is abbreviated as PHP. 2. Since the Philippines was a former U.S.A colony, they used English besides "peso" on notes and coinage until 1967. 3. PHP went through a considerable devaluation due to the pegged system but after the 1993 New Central Bank Act it became free-floating. 4. This action ushered more stability to Philippine Pesos and eliminated the black market.
9083	dbpedia	2	71	https://www.businesstimes.com.sg/companies-markets/banking-finance/philippine-peso-drops-most-asia-calls-rate-cut-build	en	Philippine peso drops most in Asia as calls for rate cut build	https://cassette.sphdigital.com.sg/image/businesstimes/e1acf3c4656a52091d7b080cd160b942bfddfb5c762ce475c95a937e91052839	https://cassette.sphdigital.com.sg/image/businesstimes/e1acf3c4656a52091d7b080cd160b942bfddfb5c762ce475c95a937e91052839	[ "https://www.businesstimes.com.sg/assets-web2/logo-masthead-PNobukBu.svg", "https://www.businesstimes.com.sg/assets-web2/default-BSkyYMCQ.png", "https://www.businesstimes.com.sg/assets-web2/logo-masthead-PNobukBu.svg", "https://www.businesstimes.com.sg/assets-web2/icon-app-ios-D0cj50Hv.svg", "https://www.businesstimes.com.sg/assets-web2/icon-app-google-pUYdZ-wS.svg" ]	[]	[]	[ "" ]	null	[]	2024-05-13T16:30:04+08:00	The Philippine peso fell the most in Asia as expectations for an interest-rate cut mounted following the release of weak economic growth data last week.	en	/favicon.ico	The Business Times	https://www.businesstimes.com.sg/companies-markets/banking-finance/philippine-peso-drops-most-asia-calls-rate-cut-build	The Philippine peso fell the most in Asia as expectations for an interest-rate cut mounted following the release of weak economic growth data last week. The peso lost as much as 0.7 per cent to 57.81 per dollar on Monday (May 13), compared with declines of about 0.2 per cent for the Indonesian rupiah and Malaysian ringgit. The losses brought the currency closer to the 58 level, which is seen as the latest line in the sand for the central bank to defend.Â The weakness comes ahead of a Thursday rate decision by Bangko Sentral ng Pilipinas. While most market watchers expect rates to be on hold that day as the central bank balances the need to support the currency while boosting growth, expectations are growing for an easing later this year.Â âMarket is anticipating more dovish signals from the central bank in view of the rate-setting meeting this week,â said Michael Ricafort, chief economist at Rizal Commercial Banking in Manila. âA rate cut later this year is justified given that inflation pressure is receding, though there is a need to wait for the Federal Reserve to cut first.â Governor Eli Remolona last month said monetary easing will more likely begin in the first quarter of 2025 and that the cuts wonât be âhuge,â citing inflationary risks.Â The Philippine economy grew 5.7 per cent from a year earlier in the first quarter, trailing expectations for a 5.9 per cent expansion. Inflation came in below estimates in April, though the continued strain on food supply keeps prices under pressure. Â BLOOMBERG
9083	dbpedia	0	87	https://www.bloomberg.com/news/articles/2024-04-17/philippine-peso-weakens-past-key-57-per-dollar-level-lv345342	en	Philippine Peso (PHP USD) Weakens Past Key 57	https://assets.bwbx.io/i…/v1/1200x800.jpg	https://assets.bwbx.io/i…/v1/1200x800.jpg	[ "https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iYRROJZbPs5w/v1/-1x-1.jpg" ]	[]	[]	[ "Philippines Peso Spot", "US Dollar Spot", "Currency", "RIZAL COMMERCIAL BANKING", "Manila", "Middle East", "Federal Reserve", "Jay Powell", "Emerging Markets", "Chang Yong Rhee", "markets" ]	null	[ "Karl Lester M Yap", "Malavika Kaur Makol" ]	2024-04-17T00:00:00	The Philippine peso weakened past the closely watched 57-per-dollar level for the first time since late 2022, putting pressure on the central bank to join emerging-market peers in supporting their beleaguered currencies.	en	https://www.bloomberg.co…avicon-black.png	Bloomberg.com	https://www.bloomberg.com/news/articles/2024-04-17/philippine-peso-weakens-past-key-57-per-dollar-level-lv345342	Philippine Peso’s Drop Past 57 Puts Pressure on Central Bank Peso falls to lowest since November 2022 as Fed to delay cuts Remolona said central bank has hardly been intervening The Philippine peso weakened past the closely watched 57-per-dollar level for the first time since late 2022, putting pressure on the central bank to join emerging-market peers in supporting their beleaguered currencies. The peso dropped as much as 0.5% to 57.29 per dollar on Wednesday, the lowest since November 2022. Governor Eli Remolona on the same day said the central bank tends to allow currency adjustments to happenBloomberg Terminal unless the movements are very sharp. On Monday, he said he’s comfortable with the peso’s current level and that the central bank has hardly been intervening in the foreign-currency market.
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9083	dbpedia	2	26	https://www.linkedin.com/pulse/impact-bsp-central-bank-defending-exchange-rate-peso-against-marcial-zvamc	en	The Impact of the BSP or Central Bank Defending the Exchange Rate of the Philippine Peso Against the US Dollar	https://media.licdn.com/dms/image/v2/D5612AQEQQAsXw2KUJg/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1721174402803?e=2147483647&v=beta&t=qTRdyk3wE3dV9f4Qy9I0EBdEidAsZcCCKv787TL1eu0	https://media.licdn.com/dms/image/v2/D5612AQEQQAsXw2KUJg/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1721174402803?e=2147483647&v=beta&t=qTRdyk3wE3dV9f4Qy9I0EBdEidAsZcCCKv787TL1eu0	[ "https://media.licdn.com/dms/image/v2/D5612AQEQQAsXw2KUJg/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1721174402803?e=2147483647&v=beta&t=qTRdyk3wE3dV9f4Qy9I0EBdEidAsZcCCKv787TL1eu0" ]	[]	[]	[ "" ]	null	[ "Ocampo Marcial" ]	2024-06-08T16:10:53+00:00	The Impact of the BSP or Central Bank Defending the Exchange Rate of the Philippine Peso Against the US Dollar Introduction The Bangko Sentral ng Pilipinas (BSP) has a critical role in stabilizing the Philippine Peso (PHP) against the US Dollar (USD). This intervention affects various economic indic	en	https://static.licdn.com/aero-v1/sc/h/al2o9zrvru7aqj8e1x2rzsrca		https://www.linkedin.com/pulse/impact-bsp-central-bank-defending-exchange-rate-peso-against-marcial-zvamc	Introduction The Bangko Sentral ng Pilipinas (BSP) has a critical role in stabilizing the Philippine Peso (PHP) against the US Dollar (USD). This intervention affects various economic indicators, including inflation, borrowing costs, credit availability, GDP growth, international reserves, and the balance of payments. This paper explores the benefits and hardships of such interventions by the BSP, supported by cited sources. Benefits of Defending the Exchange Rate 1. Inflation Control A stable exchange rate helps control inflation. The Philippines imports a significant portion of goods, including essential items like fuel and food. A strong peso reduces the cost of these imports, helping to keep inflation in check. Source: According to the BSP, stabilizing the peso can mitigate imported inflation, which is crucial in an import-dependent economy like the Philippines (BSP, 2020). 2. Economic Stability A stable exchange rate provides predictability for businesses engaged in international trade and investment. This stability fosters a favorable business environment, encouraging foreign investment and trade. Source: Research indicates that exchange rate stability can enhance investor confidence and lead to increased foreign direct investment (FDI) (Asian Development Bank, 2018). 3. Deterrence of Speculative Attacks By defending the peso, the BSP can prevent speculative attacks on the currency, which can lead to sharp devaluations and financial instability. A credible defense can deter speculators from betting against the peso. Source: The Asian Financial Crisis of 1997 demonstrated the importance of central bank interventions in preventing currency crises (IMF, 2019). Hardships of Defending the Exchange Rate 1. Depletion of International Reserves One significant hardship is the potential depletion of international reserves. Defending the peso often requires the BSP to sell foreign currency reserves, which can deplete the country's reserve holdings over time. Source: The International Monetary Fund (IMF) highlights that prolonged defense of a currency can significantly reduce a country's foreign reserves (IMF, 2019). 2. Increased Cost of Borrowing To defend the exchange rate, the BSP may need to raise interest rates to attract foreign capital. Higher interest rates can increase the cost of borrowing for businesses and consumers, potentially slowing economic growth. Source: Higher interest rates can lead to reduced investment and consumption, adversely affecting GDP growth (World Bank, 2020). 3. Tightened Credit Conditions Higher interest rates and tighter monetary policy can lead to reduced availability of credit. This can constrain business expansion and consumer spending, further impacting economic growth. Source: Tight monetary policy often results in stricter lending conditions, making it harder for businesses and consumers to obtain loans (BSP, 2020). Impact on Economic Indicators 1. Inflation Rate A defended exchange rate can help control inflation by keeping import prices stable. However, if the defense leads to higher interest rates, it could potentially reduce inflation by curbing economic activity. Source: Central bank policies to stabilize currency often have a direct impact on inflation rates through import prices and economic activity (Asian Development Bank, 2018). 2. Cost of Borrowing (Interest Rate) Defending the peso often requires higher interest rates to maintain its value. This can increase the cost of borrowing for businesses and consumers, affecting investment and spending decisions. Source: Central banks may raise interest rates to attract foreign capital and support the currency, leading to higher borrowing costs (World Bank, 2020). 3. Availability of Credit Higher interest rates and a focus on currency defense can reduce the availability of credit as banks become more cautious in their lending practices. Source: Credit availability can be constrained by higher interest rates and stricter lending standards imposed by financial institutions (BSP, 2020). 4. GDP Growth Rate The impact on GDP growth can be mixed. While a stable currency can foster a favorable business environment, higher interest rates and reduced credit availability can dampen economic growth. Source: The balance between maintaining currency stability and fostering economic growth is a key challenge for central banks (IMF, 2019). 5. International Reserves Defending the peso often requires selling foreign currency reserves, which can deplete these reserves over time. This can limit the central bank's ability to intervene in future currency markets or respond to financial crises. Source: The IMF warns that excessive depletion of reserves can undermine a country's financial stability (IMF, 2019). 6. Balance of Payments A defended exchange rate can affect the balance of payments by influencing trade balances and capital flows. A stronger peso can make exports more expensive and imports cheaper, potentially leading to a trade deficit. Source: Exchange rate policies can significantly impact a country's trade balance and overall balance of payments (Asian Development Bank, 2018). Conclusion Defending the exchange rate of the Philippine Peso against the US Dollar involves a delicate balancing act by the BSP. While it can help control inflation and provide economic stability, it also introduces challenges such as higher borrowing costs, reduced credit availability, and potential depletion of international reserves. The BSP must carefully manage these trade-offs to maintain economic stability and support sustainable growth. References Bangko Sentral ng Pilipinas. (2020). "Monetary Policy." Retrieved from BSP. International Monetary Fund. (2019). "Currency Interventions and Reserve Management." Retrieved from IMF. Asian Development Bank. (2018). "Exchange Rate Stability and Economic Growth in Developing Asia." Retrieved from ADB. World Bank. (2020). "Impact of Monetary Policy on Financial Stability." Retrieved from World Bank. International Financial Statistics. (2020). "Philippines: Foreign Exchange Reserves and Balance of Payments." Retrieved from IFS.OU YOU MAY CONTACT MARCIAL OCAMPO AT mars_ocampo@yahoo.com or
9083	dbpedia	0	29	https://fxtop.com/c/en/PHP	en	Currency PHP Philippines [Philippine peso]	https://fxtop.com/ico/favicon-32x32.png	https://fxtop.com/ico/favicon-32x32.png	[ "https://fxtop.com/ico/fxtopfb.gif", "https://fxtop.com/ico/currency_converter_past_xzoex_Fotolia30.gif", "https://fxtop.com/ico/icograph30b.gif", "https://fxtop.com/ico/icocomp30b.gif", "https://fxtop.com/ico/currency_converter_xzoex_Fotolia30.gif", "https://fxtop.com/ico/icosacdollar30.gif", "https://fxtop.com/ico/worldmap.gif", "https://fxtop.com/ico/ico_chgt_Ella_Sarkisyan-Fotolia.gif", "https://fxtop.com/ico/icocnv_euro_dollar_Ella_Sarkisyan-Fotolia_30.gif", "https://fxtop.com/ico/ico_cross_Ella_Sarkisyan-Fotolia30.gif", "https://fxtop.com/ico/icoeq_Fotolia_Ella_Sarkisyan-Fotolia-30.gif", "https://fxtop.com/ico/Gold_Prod_Numerik-Fotolia_extrait30.gif", "https://fxtop.com/ico/calculateur_inflation_nechto_Fotolia30b.gif", "https://fxtop.com/ico/worldmap.gif", "https://fxtop.com/ico/icocnv_adv_Ella_Sarkisyan-Fotolia_30.gif", "https://fxtop.com/ico/icowp30b.gif", "https://fxtop.com/ico/convertisseur_fxtop_Web_Buttons_Inc-Fotolia.com_extract50.gif", "https://fxtop.com/ico/learnandsmile_30.gif", "https://fxtop.com/ico/en.gif", "https://fxtop.com/ico/fr.gif", "https://fxtop.com/ico/de.gif", "https://fxtop.com/ico/es.gif", "https://fxtop.com/ico/it.gif", "https://fxtop.com/ico/nl.gif", "https://fxtop.com/ico/pt.gif", "https://fxtop.com/ico/dk.gif", "https://fxtop.com/ico/se.gif", "https://fxtop.com/ico/no.gif", "https://fxtop.com/ico/fi.gif", "https://fxtop.com/ico/jp.gif", "https://fxtop.com/ico/cn.gif", "https://fxtop.com/ico/ru.gif", "https://fxtop.com/ico/th.gif", "https://fxtop.com/ico/kr.gif", "https://fxtop.com/ico/tr.gif", "https://fxtop.com/ico/in.gif", "https://fxtop.com/ico/facebook18.png", "https://fxtop.com/ico/googleplus18.png", "https://fxtop.com/ico/twitter18.png", "https://fxtop.com/ico/linkedin18.png", "https://fxtop.com/ico/mail.gif", "https://fxtop.com/ico/rss.gif", "https://fxtop.com/ico/PHP.gif", "https://fxtop.com/ico/php.gif", "https://fxtop.com/ico/PHP.gif", "https://fxtop.com/ico/PHP.gif", "https://fxtop.com/php/imggraph.php?C2=PHP&C1=USD&A=1&DD1=01&MM1=01&YYYY1=2023&DD2=19&MM2=08&YYYY2=2024&LANG=en", "https://fxtop.com/ico/PHP.gif", "https://fxtop.com/ico/USD.gif", "https://fxtop.com/ico/AUD.gif", "https://fxtop.com/ico/CAD.gif", "https://fxtop.com/ico/CHF.gif", "https://fxtop.com/ico/EUR.gif", "https://fxtop.com/ico/GBP.gif", "https://fxtop.com/ico/JPY.gif", "https://fxtop.com/ico/PHP.gif", "https://fxtop.com/ico/USD.gif", "https://fxtop.com/ico/AUD.gif", "https://fxtop.com/ico/CAD.gif", "https://fxtop.com/ico/CHF.gif", "https://fxtop.com/ico/EUR.gif", "https://fxtop.com/ico/GBP.gif", "https://fxtop.com/ico/JPY.gif", "https://fxtop.com/ico/sek.gif", "https://fxtop.com/ico/brl.gif", "https://fxtop.com/ico/aud.gif", "https://fxtop.com/ico/cad.gif", "https://fxtop.com/ico/krw.gif", "https://fxtop.com/ico/gbp.gif", "https://fxtop.com/ico/eur.gif", "https://fxtop.com/ico/xau.gif", "https://fxtop.com/ico/sgd.gif", "https://fxtop.com/ico/twd.gif", "https://fxtop.com/ico/ars.gif", "https://fxtop.com/ico/chf.gif", "https://fxtop.com/ico/php.gif", "https://fxtop.com/ico/inr.gif", "https://fxtop.com/ico/hkd.gif", "https://fxtop.com/ico/usd.gif", "https://fxtop.com/ico/nok.gif", "https://fxtop.com/ico/mxn.gif", "https://fxtop.com/ico/cny.gif", "https://fxtop.com/ico/jpy.gif", "https://fxtop.com/ico/xau.gif", "https://fxtop.com/ico/sek.gif", "https://fxtop.com/ico/aud.gif", "https://fxtop.com/ico/sgd.gif", "https://fxtop.com/ico/cny.gif", "https://fxtop.com/ico/chf.gif", "https://fxtop.com/ico/gbp.gif", "https://fxtop.com/ico/eur.gif", "https://fxtop.com/ico/hkd.gif", "https://fxtop.com/ico/krw.gif", "https://fxtop.com/ico/nok.gif", "https://fxtop.com/ico/usd.gif", "https://fxtop.com/ico/twd.gif", "https://fxtop.com/ico/jpy.gif", "https://fxtop.com/ico/php.gif", "https://fxtop.com/ico/cad.gif", "https://fxtop.com/ico/inr.gif", "https://fxtop.com/ico/mxn.gif", "https://fxtop.com/ico/brl.gif", "https://fxtop.com/ico/ars.gif", "https://fxtop.com/ico/php.gif", "https://fxtop.com/ico/usd.gif", "https://fxtop.com/ico/eur.gif", "https://fxtop.com/ico/aud.gif", "https://fxtop.com/ico/cad.gif", "https://fxtop.com/ico/chf.gif", "https://fxtop.com/ico/cny.gif", "https://fxtop.com/ico/gbp.gif", "https://fxtop.com/ico/jpy.gif", "https://fxtop.com/ico/nzd.gif", "https://fxtop.com/ico/zar.gif", "https://fxtop.com/php/imgreduce.php?IMG=php100000_recto&NEWMAXSIZE=150&MODERESIZE=0", "https://fxtop.com/php/imgreduce.php?IMG=php100000_verso&NEWMAXSIZE=150&MODERESIZE=0" ]	[]	[]	[ "currency", "change", "rate", "graph", "history", "converter", "forex", "Philippines [Philippine peso]", "PHP" ]	null	[]	null	Currency PHP Philippines [Philippine peso]		/ico/favicon.ico		//fxtop.com/c/en/PHP	Label of currency PHP is Philippine peso. Currency code PHP is associated to Philippines, flag is used on this site for it. Amounts in this currency have up to 2 decimals. It is mainly associated to country or zone Philippines. Currency code PHP is a 3 letter normalized code according to standard ISO-4217, the 2 first letters are the code of the issuing country, third letter is the initial of the currency. We recorded price on this currency since 1960-01-01 List of countries that are using or were using currency PHP : Country labelRegionActual currencyLegacy currency PH-PhilippinesAsia PHP PHP Put your mouse over a country to see its name, flag and currency, click on it to see details of the currency Zoom in on: World Europe East Europe North america South america Africa Middle East Caribbean Asia Pacific Sorry ! Your browser doesn't support SVG format, please update your browser See also World forex map World interactive maps with flags of the countries and their associated currencies
9083	dbpedia	3	9	https://corporatefinanceinstitute.com/resources/foreign-exchange/philippine-peso-php/	en	Philippine Peso (PHP)	https://cdn.corporatefin…hp-1024x680.jpeg	https://cdn.corporatefin…hp-1024x680.jpeg	[ "https://cdn.corporatefinanceinstitute.com/assets/Financial-Ratios-Definitive-Guide_Nav.png", "https://cdn.corporatefinanceinstitute.com/assets/philippine-peso-php-1024x680.jpeg", "https://cdn.corporatefinanceinstitute.com/wp-content/themes/cfi/dist/images/linkedin.svg", "https://cdn.corporatefinanceinstitute.com/wp-content/themes/cfi/dist/images/facebook.svg", "https://cdn.corporatefinanceinstitute.com/wp-content/themes/cfi/dist/images/twitter.svg", "https://cdn.corporatefinanceinstitute.com/wp-content/themes/cfi/dist/images/whatsapp.svg", "https://cdn.corporatefinanceinstitute.com/wp-content/themes/cfi/dist/images/copylink.svg", "https://cdn.corporatefinanceinstitute.com/assets/footer-macabacus-icon.png", "https://seal-mbc.bbb.org/logo/ruhzbul/bbb-2405665.png", "https://cdn.corporatefinanceinstitute.com/assets/soc2-logo.png", "https://static.corporatefinanceinstitute.com/lms/course_image/d58fad35-cb68-440b-a93f-4ad1c061ff79.png", "https://static.corporatefinanceinstitute.com/course_image/172fcdda-691f-4462-9696-5fd9121c30fc.png", "https://static.corporatefinanceinstitute.com/lms/course_image/b6345d70-2265-4628-b354-dfc4682bf022.jpg", "https://static.corporatefinanceinstitute.com/course_image/826007ba-d85e-4fb7-b952-c60e268ca69c.", "https://static.corporatefinanceinstitute.com/course_image/b0d83e7b-fdbf-4f33-b740-6a314681499c.", "https://static.corporatefinanceinstitute.com/course_image/61e5f900-c568-4ff1-8ec2-0050a6139bdf." ]	[]	[]	[ "" ]	null	[ "CFI Team" ]	2023-10-13T13:45:26+00:00	The Philippine Peso refers to the Philippines’s official currency and is represented by ISO code PHP. The Bangko Sentral ng Pilipinas (BSP),	en	//cdn.corporatefinanceinstitute.com/assets/cfi-favicon-3-150x150.png	Corporate Finance Institute	https://corporatefinanceinstitute.com/resources/foreign-exchange/philippine-peso-php/	What is the Philippine Peso (PHP)? The Philippine Peso refers to the Philippines’s official currency and is represented by ISO code PHP. The Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, mints and prints the banknotes and the coins at its complex in Quezon City. PHP is also called piso, a Filipino name. Since the country was a previous United States colony, it used the English language on its notes and coins. Hence, until 1967, the term “peso” appeared on the currency. With the introduction of the Filipino language on the notes and coins, the word “piso” came into use. History of the Philippine Peso In 1898, the country saw a transformation when its capital was used to issue coins and paper money of its currency. However, the change was short-lived as the circulation of the currency ended in 1901. The US took possession of the Philippines and introduced a currency indexed to the gold standard, which was about half the value of the United States Dollar (USD) then. The 2 pesos per USD peg continued until the country became independent in 1946. The Central Bank of the Philippines was set up in 1949, and in the 1950s, it sought to keep the US dollar at 2:1. It became unlikely when the black market for pesos began beyond the fixed system, where it was regularly exchanged at 3:1. In 1967, the Filipino language was adopted in the currency by the bank, and a series of notes in denominations of 1 peso, 5 pesos, 10 pesos, 20 pesos, 50 pesos, and 100 pesos was launched in 1969. The Ang Bagong Lipunan (ABL) Series of banknotes was released in 1973. It included 2 pesos as the lowest denomination and 100 pesos as the highest denomination. The ABL series was followed by the release of the New Design Series. A drastic transformation occurred when the central bank published the New Design Series. The new 500 PHP notes were launched in 1987, the first 1,000 PHP notes were released in 1991, and 200 PHP notes were released in 2002. The name “New Design Series” referred to the Philippine notes issued between 1985 and 1993. It was then retitled as the BSP series, owing to the restoration of the BSP in 1993. It was replaced by the New Generation Currency Series, which was released in December 2010. Banknotes from the latest currency series were printed until 2013 and existed as a legal tender until December 31, 2015. The original demonetization date for the bills was January 1, 2017, but the time frame for exchanging old notes was extended twice, first until June 30, 2017, and then until December 29, 2017. Current Philippine Peso In 2009, the BSP announced a complete redesign of the current notes and coins to boost security features and increase longevity. Popular Filipinos and iconic natural wonders grace the latest banknote designs. In December 2010, the BSP began issuing the first batch of new notes. In February 2016, the country’s central bank began to distribute new 100-peso bills, which came with a better purple or purple hue. It was suggested by the public to differentiate between the 100-peso banknote and the 1000-peso banknote. The 100 PHP bills of the New Generation Currency are still in circulation; hence, they can still be used by the public. On December 11, 2019, the BSP declared that it would convert the 20 PHP note into a coin. It announced the transition of banknotes to coins, which will be finished by 2021 end or the start of 2022. The BSP also declared a redesign of the 5-peso coin of the New Generation Currency. The new concept requires the inclusion of bumps on both sides of the coin. Currently, coins of 1, 5, 10, and 25 cents and 1, 5, 10, and 20 pesos are in use. Banknotes of denominations of 20, 50, 100, 200, 500, and 1,000 pesos are also in circulation. More Resources Thank you for reading CFI’s guide on the Philippine Peso (PHP). To keep learning and developing your knowledge base, please explore the additional relevant resources below:
9083	dbpedia	2	67	https://www.worldbank.org/en/country/philippines/overview	en	Philippines Overview: Development news, research, data	https://www.worldbank.or…social-share.jpg	https://www.worldbank.or…social-share.jpg	[ "https://www.worldbank.org/content/dam/sites/academy/img/2024/wbglogo.svg", "https://www.worldbank.org/content/dam/sites/corporate/img/global/wblive-logo-ENG-short_white2.png", "https://worldbank.scene7.com/is/image/worldbankprod/who-we-are", "https://worldbank.scene7.com/is/image/worldbankprod/what-we-do", "https://worldbank.scene7.com/is/image/worldbankprod/megamenu-photo-pakistan", "https://www.worldbank.org/content/dam/sites/corporate/img/global/wblive-logo-ENG-short_white2.png", "https://www.worldbank.org/etc/designs/wbrrdesign/clientlibs-wbrredsign/img/search-orange.svg", "https://www.worldbank.org/content/dam/photos/1440x300/2017/jun/ph-banner_1440x300.jpg", "https://www.worldbank.org/content/dam/photos/220x220/2017/may/ph-card.jpg", "https://worldbank.scene7.com/is/image/worldbankprod/Ph-CPFVideo?wid=780&hei=439&qlt=85,0&resMode=sharp", "https://live.staticflickr.com/6227/6359047787_b1ed14b3a2_z.jpg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/twitter.svg", "https://www.worldbank.org/content/dam/wbr/stayconnected/icons-blogs.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/flickr.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/youtube.svg", "https://www.worldbank.org/content/dam/wbr/stayconnected/icons-rss.svg", "https://www.worldbank.org/content/dam/wbr/stayconnected/sm-icons-newsletter.svg", "https://www.worldbank.org/content/dam/Worldbank/Highlights%20&%20Features/EAP/Philippines/asf-indepth.jpg", "https://worldbank.scene7.com/is/image/worldbankprod/Ph-scd-cover:780x439", "https://www.worldbank.org/content/dam/photos/780x439/2021/jul-2/ph-75th-anniversary-cover-780x439.jpg", "https://www.worldbank.org/content/dam/photos/780x439/2021/sep-2/ph-kdc-20190321-iloilo-scd-consult.jpg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/fb.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/twitter.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/linkedln.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/instagram.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/youtube.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/flickr.svg", "https://www.worldbank.org/content/dam/wbr-redesign/icons/whatsup.svg", "https://www.worldbank.org/content/dam/wbr-redesign/logos/logo-wbg-footer-en.svg" ]	[]	[]	[ "East Asia and Pacific(EAP)", "Philippines(PH)" ]	null	[]	null	Domestic growth is strong in the Philippines, while global challenges are affecting prospects. The Philippine government is implementing its 8-point socioeconomic agenda and the Philippine Development Plan 2023-2028 to ensure inclusive, resilient, and sustainable growth for a prosperous society.	en	/content/dam/wbr-redesign/logos/wbg-favicon.png	World Bank	https://www.worldbank.org/en/country/philippines/overview	Since the Philippines government received its first World Bank loan in 1957, the Bank’s development projects in the country have produced significant results for its people. In the past decades, the Bank’s assistance has expanded to a wide range of projects and analytical work, policy advice, and capacity development in support of the country’s development agenda. Highlights of some projects and results The Philippine Rural Development Project (PRDP) has been helping raise rural incomes, enhance farm and fishery productivity, and improve market access throughout the country since it started in 2015. It has been supporting provincial planning, rural infrastructure, and agriculture enterprise development. It has been using tools such as geotagging, value chain analysis, expanded vulnerability and suitability assessments, and climate risk vulnerability assessments to strategically guide public investments toward a modern, value-chain oriented, and climate-resilient agriculture and fisheries sector. The project has supported provincial investment planning for priority agricultural commodities in all 81 provinces of the country. Since 2015, the project has benefitted over 739,000 farmer and fisherfolk beneficiaries (97% of project’s end-target), 49% of them are female beneficiaries. The project has also constructed and rehabilitated over 1,950 kilometers of farm-to-market roads (about 600 kilometers more are underway). These resulted in reduction of travel time by 61% and reduction in transport costs by 23%. Results of a household survey indicate that farmers and fisher households benefitting from completed infrastructure and agricultural enterprise subprojects gained 36% increase in annual household real income. In June 2021, the PRDP received US$280 million additional investment and €18.3 million grant to build on the gains achieved by PRDP. A new PRDP Scale up project with $600m IBRD was approved in June 2023. The Philippines COVID-19 Emergency Response Project supported the country’s efforts to scale up national vaccination, strengthen the country’s health systems, and overcome the impact of the pandemic especially on the poor and the most vulnerable. It has helped the Philippines ramp up vaccination by supporting procurement of at least 33 million doses of vaccines. The World Bank-financed vaccines are among the first vaccines used for pediatric vaccination, benefitting 7.5 million children all over the Philippines. The ramp up of vaccination has enabled the authorities to open more economic activities, allowing the country to grow 5.6 percent in 2021. It has facilitated purchase of 500 mechanical ventilators, 119 portable x-ray machines, 70 infusion pumps, 50 RT-PCR machines, 69 ambulances, as well as other medical equipment and supplies crucial for improving the country’s COVID-19 response. It has also built isolation wards with negative pressure systems and reference laboratories, for the country to be more prepared in facing infectious diseases. To mitigate the COVID-19 pandemic’s impact on the welfare of low-income households, the Philippines Beneficiary FIRST Social Protection (BFIRST) Project was initiated to support the government’s flagship conditional cash transfer (CCT) program, known as Pantawid Pamilyang Pilipino Program (4Ps). The BFIRST project aims to strengthen the country’s social protection delivery system to be more adaptive and efficient, focusing on the development and implementation of digital transformation strategy for the Department of Social Welfare and Development (DSWD), in addition to supporting the cash grants for the 4Ps. The BFIRST project is also facilitating the adoption of Philippine Identification System (PhilSys), which enabled services initially under the 4Ps and Assistance to Individuals in Crisis Situations program of DSWD. By adopting PhilSys, as a valid proof of identity, the DSWD will be able to improve the overall experience for its beneficiaries with streamlined process in accessing social assistance services while preventing fraud and leakages. The benefits of adopting PhilSys include digitizing and streamlining DSWD’s beneficiary registration and enrolment, establishing a United Beneficiary Database (UBD), identifying and removing duplicate or ghost beneficiaries, and enabling financial inclusion. The project also promotes the use of digital payments in the distribution of cash assistance. The 4Ps beneficiaries used to receive their grants by withdrawing cash through an ATM or over the counter with their Landbank cash cards. Early this year, the DSWD shifted to transaction accounts for grant distribution enabling the beneficiaries to receive funds from other sources, save their money, and make electronic fund transfers such as online bills payment. As of July 2023, there are 3,493,827 beneficiaries of 4Ps who have access to transaction accounts. The 4Ps is the Philippine national poverty reduction strategy and a human capital investment program which was institutionalized with the passage of Republic Act 11310 on April 17, 2019. The program supports low-income households invest in the education and health of children up to 18 years old. The program has made significant impactsin reducing total poverty and food insecurity among beneficiaries, and has grown to become one of the largest CCT programs in the world, helping more than 6 million households since its inception. As of July 2023, the 4Ps serves 3,978, 736 active households and is being implemented in 148 cities and 1,481 municipalities across 81 provinces throughout the country. The BFIRST project supports 4Ps’ efforts to enroll new families who fell into poverty especially due to the pandemic and facilitate the transition of families who graduate out of the program. The Kapit-Bisig Laban sa Kahirapan - Comprehensive and Integrated Delivery of Social Services (Kalahi CIDSS) has been supported by the Bank since 2002. Starting in 2014 it received funding under the KC National Community Driven Development Project (KC-NCDDP) with accumulative lending of US$779 million. The KC-NCDDP Additional Financing(AF) was approved by the World Bank Board of Executive Directors in December 2020 and is closing December 31, 2024. KC-NCDDP is implemented in the poorest municipalities in the Philippines, mainly located in areas characterized by high risks to climate change and livelihood constraints. It aims to empower poor and disaster-affected communities to participate in more inclusive local planning, budgeting, and implementation, and improve their access to basic services. Out of 948 poor municipalities in the Philippines, with a poverty incidence greater than or equal to 26.3 (2009 poverty threshold), 828 municipalities or 87% (a total of 19,647 barangays) were covered under the KC-NCDDP, and 676 municipalities (13, 934 barangays) are covered under the AF. Impact Evaluation (IE) results indicated positive impacts on household consumption that contributed to reduction in poverty with a 12% increase in per capita spending among beneficiary households and an even higher increase (19%) for households that were identified as poor at project start-up. KC-NCDDP has so far funded 39,831 community sub-projects within the areas of basic access facilities (e.g., village roads, footbridges, footpaths), followed by social services (e.g., day-care centers, classrooms, health stations); environmental protection (e.g. flood and river control; and community production facilities and utilities (e.g. electrification and multipurpose buildings). About 319,968 Indigenous People households benefitted from the sub-projects. Implementation of community sub-projects also benefitted women where 34.8% are part of the sub-project's implementation workforce. Since the outset of the pandemic, KC-NCDDP has financed 2,654 isolation units and support training of barangay health emergency response teams in 86% of barangays. More than 2.1 million community volunteers have been mobilized in various positions since 2014.The Project has also contributed to enhanced local governance by providing a mechanism for closer engagement between the municipal local government units (MLGUs) and communities. 99% of municipal local government units (MLGUs) have poverty reduction action plans based on KC-NCDDP participatory processes, and 97% of MLGUs have increased representation of peoples’ organizations (POs) in local development councils. Following Typhoon Haiyan in 2014, KC-NCDDP spearheaded an innovative response to assist disaster-affected municipalities through the Disaster Response Operations Modality (DROM), which was used again for COVID-19 and other disaster events. To strengthen the government’s capacity to manage risks from climate change, natural disasters, and disease outbreaks, the Bank has provided the Fourth Disaster Risk Management Development Policy Loan with Catastrophe Deferred Drawdown Option (Cat DDO4). The operation is supported by a technical assistance program to help (i) institutionalize the use of Rehabilitation and Recovery Plans for local government units (LGUs) to rapidly request and access funding from the National Disaster Risk Reduction and Management (DRRM) Fund; and (ii) integrate climate and disaster risk information of LGUs within the National Government’s central risk data system (GeoRiskPH platform). The Ready to Rebuild (R2R) program was launched to train communities to be more prepared – to build a culture of preparedness to help local governments and communities anticipate the impacts of disasters and prepare recovery plans even before disasters hit. A total of 350 provinces, cities, and municipalities from all 17 regions in the country have undergone training, including those struck by Super Typhoon Rai. This translates to 1,800 governors, mayors, and technical staff. An additional 450 technical staff from 150 local governments were trained in the use of GeoRiskPH platform to integrate hazard and risk information into the local disaster risk reduction and management plans. The technical assistance supports strengthening the delivery of community-based DRM related Technical and Vocational Education and Training (TVET) program to equip people in vulnerable local government units (LGUs) with critical and targeted skills to be able to quickly respond to and recover from disasters; increasing the compliance of National Government Agencies (NGAs) and LGUs in climate and disaster budget tagging; integration of climate change adaptation and disaster risk reduction measures in local investment programs and Provincial Commodity Investment Plans. The Bank is supporting the Department of Science and Technology, Philippine Institute of Volcanology and Seismology, in collaboration with the National Disaster Risk Reduction and Management Council, Office of Civil Defense, and Department of the Interior and Local Government in the development and rollout of the PlanSmart Ready to Rebuild Automated Planning Tool for Disaster Rehabilitation and Recovery. This web application was developed to help the government formulate and implement hazard- and risk-informed programs and projects to better prepare for and recover from disasters. Thus far, over 400 participants from the National Capital Region, Central Visayas Region, Caraga Region, Southern Tagalog Region, and Bangsamoro Autonomous Region in Muslim Mindanao have been trained. This resulted in the integration of baseline data of 128 LGUs in the GeoRiskPH platform. The financing also supported the urgent needs created by the COVID-19 crisis. This is combined with technical assistance to help enhance the capacity of national and local governments in developing effective response mechanisms through emergency cash transfers and Recovery Guide from COVID-19 with suggested strategies and financing options to help communities recover from the impacts of the pandemic. The Bank’s assistance extends to conflict-affected areas in the country, providing support for service delivery, skills development, and enhanced participatory processes. Supported by five countries and the European Union, the Mindanao Trust Fund (MTF) (2005-2021) aimed to promote peace and development in conflict-affected areas in Mindanao. The MTF funded a series of three Reconstruction and Development Projects (RDPs), which fostered inclusive social and economic recovery, social cohesion, and participatory governance through a community-driven development approach, mainly in the area that in 2019 became the Bangsamoro Autonomous Region of Muslim Mindanao. More recently, the World Bank was chosen by the Government of the Philippines and the Moro Islamic Liberation Front (MILF) to administer a new multi-donor trust fund to support Normalization, the track of the peace process that covers decommissioning and transformation of camps into peaceful and productive communities. The new Bangsamoro Normalization Trust Fund (BNTF) will be building on the achievements of the MTF. In the private sector, IFC has been a leader in developing the thematic bond market in the Philippines, helping banks issue green bonds since 2017 for climate-smart projects, including renewable energy, green buildings, and energy-efficient equipment. IFC’s blue, green, and social bonds have helped provide loans to MSMEs, expand healthcare, and improve wastewater treatments services in water scarce areas. IFC supported Ayala Corporation’s first social bond in healthcare for the first green cancer hospital in the Philippines and Union Bank’s social bond which provided 4,000 loans to micro, small and medium-sized enterprises (MSMEs) in the country. In April 2022, IFC supported BDO Unibank's blue bond issuance to help tackle marine pollution and preserve clean water resources. This was the first blue bond for the Philippines and the first blue bond subscription for IFC globally. Last Updated: Apr 05, 2024
9083	dbpedia	2	88	https://www.investing.com/currencies/php-usd	en	Philippine Peso US Dollar - Investing.com	https://i-invdn-com.inve…ting_300X300.png	https://i-invdn-com.inve…ting_300X300.png	[]	[]	[]	[ "" ]	null	[]	2024-08-19T15:33:35+00:00	Find the current Philippine Peso US Dollar rate and access to our PHP USD converter, charts, historical data, news, and more.	en		Investing.com	https://www.investing.com/currencies/php-usd	World Bank revises down 2023 growth forecast for Philippines and China The World Bank has revised its 2023 growth forecast for the Philippines downward to 5.6% from the previous estimate of 6%, citing factors such as elevated inflation, tight... Investing.com Oct 02, 2023 Asia FX Outlook 2023: Better Positioned This year has been tough for Asian currencies – hit by surging energy prices, the strong dollar, and in some cases central banks being a little slow to react. Their course in... Analysis Nov 21, 2022 Asia FX dips on weak China data, Aussie slides as RBA holds rates Investing.com-- Most Asian currencies fell on Tuesday as Chinese service sector data pointed to more headwinds for the region’s largest economy, while the Australian dollar fell... Investing.com Sep 05, 2023 Asia FX Plummets on Recession Jitters, Dollar Pressure By Ambar Warrick Investing.com-- Most Asian currencies fell sharply against the dollar on Monday as fears of a global recession and rising interest rates in the West weighed... Investing.com Sep 26, 2022 1 Asia FX falls, dollar nears 2-mth high on hawkish rate hike outlook By Ambar Warrick Investing.com -- Most Asian currencies fell on Monday, while the dollar held near a two-month high after hotter-than-expected U.S. inflation data saw markets... Investing.com Feb 26, 2023 Asia FX Battered as Fed Rate Hikes, Russia Tensions Favor Dollar By Ambar Warrick Investing.com-- Asian currencies tumbled on Thursday, plumbing milestone lows as a Federal Reserve and fears of an escalating Russia-Ukraine conflict pushed... Investing.com Sep 22, 2022 Markets Await Central Banks and Key Data There are two themes today. First, there has been a modest bout of profit-taking on Chinese stocks (and yuan) after last week’s surge. Second, ahead of the five G10 central... Analysis Dec 12, 2022 Asia FX Plumbs Multi-Year Lows Ahead of Fed Rate Decision By Ambar Warrick Investing.com-- Most Asian currencies sank to multi-year lows on Wednesday as investors awaited an interest rate hike and more hawkish signals from the U.S.... Investing.com Sep 21, 2022 Risk Appetites Challenged After U.S. Equities Tumble The sharp sell-off of US stocks yesterday has sapped the risk appetite today. Equities are being sold. Hong Kong and the index of mainland shares listed there led the regional... Analysis Dec 07, 2022 Chinese Yuan Flat After Reserve Ratio Cut, Australian Rate Hike in Focus By Ambar Warrick Investing.com-- China’s yuan curbed recent losses on Tuesday after the People's Bank attempted to boost liquidity in the country, while the Australian... Investing.com Sep 05, 2022 1 World Bank revises down 2023 growth forecast for Philippines and China The World Bank has revised its 2023 growth forecast for the Philippines downward to 5.6% from the previous estimate of 6%, citing factors such as elevated inflation, tight... Investing.com Oct 02, 2023 Asia FX dips on weak China data, Aussie slides as RBA holds rates Investing.com-- Most Asian currencies fell on Tuesday as Chinese service sector data pointed to more headwinds for the region’s largest economy, while the Australian dollar fell... Investing.com Sep 05, 2023 Asia FX falls, dollar nears 2-mth high on hawkish rate hike outlook By Ambar Warrick Investing.com -- Most Asian currencies fell on Monday, while the dollar held near a two-month high after hotter-than-expected U.S. inflation data saw markets... Investing.com Feb 26, 2023 Markets Await Central Banks and Key Data There are two themes today. First, there has been a modest bout of profit-taking on Chinese stocks (and yuan) after last week’s surge. Second, ahead of the five G10 central... Analysis Dec 12, 2022 Risk Appetites Challenged After U.S. Equities Tumble The sharp sell-off of US stocks yesterday has sapped the risk appetite today. Equities are being sold. Hong Kong and the index of mainland shares listed there led the regional... Analysis Dec 07, 2022 Asia FX Outlook 2023: Better Positioned This year has been tough for Asian currencies – hit by surging energy prices, the strong dollar, and in some cases central banks being a little slow to react. Their course in... Analysis Nov 21, 2022 Asia FX Plummets on Recession Jitters, Dollar Pressure By Ambar Warrick Investing.com-- Most Asian currencies fell sharply against the dollar on Monday as fears of a global recession and rising interest rates in the West weighed... Investing.com Sep 26, 2022 1 Asia FX Battered as Fed Rate Hikes, Russia Tensions Favor Dollar By Ambar Warrick Investing.com-- Asian currencies tumbled on Thursday, plumbing milestone lows as a Federal Reserve and fears of an escalating Russia-Ukraine conflict pushed... Investing.com Sep 22, 2022 Asia FX Plumbs Multi-Year Lows Ahead of Fed Rate Decision By Ambar Warrick Investing.com-- Most Asian currencies sank to multi-year lows on Wednesday as investors awaited an interest rate hike and more hawkish signals from the U.S.... Investing.com Sep 21, 2022
9083	dbpedia	1	32	https://www.bloomberg.com/news/articles/2024-05-21/philippine-peso-declines-past-key-58-level-against-dollar	en	PHP USD: Philippine Peso Declines Past Key 58 Level Against Dollar	https://assets.bwbx.io/i…/v0/1200x799.jpg	https://assets.bwbx.io/i…/v0/1200x799.jpg	[]	[]	[]	[ "Philippines", "Currency Markets", "US Dollar Spot", "Exchange Rate", "Indonesia", "Bahujan Samaj Party", "Federal Reserve", "Thailand", "Emerging Markets", "SECURITY BANK CORP", "markets" ]	null	[ "Karl Lester M Yap" ]	2024-05-21T00:00:00	The Philippine central bank warned it will intervene in the currency market after the peso dropped past the key 58-per-dollar level.	en	https://www.bloomberg.co…avicon-black.png	Bloomberg.com	https://www.bloomberg.com/news/articles/2024-05-21/philippine-peso-declines-past-key-58-level-against-dollar	Philippines Warns of Intervention as Peso Drops Past Key Level Currency approaches record low level touched in 2022 Governor Remolona said BSP to intervene when necessary The Philippine central bank warned it will intervene in the currency market after the peso dropped past the key 58-per-dollar level. Authorities will step inBloomberg Terminal “when necessary to smoothen excessive volatility and restore order during periods of stress,” Governor Eli Remolona said in an emailed statement Tuesday. The peso weakened as much as 0.7% to 58.28 per dollar on the day, approaching the record-low level of 59 touched in 2022.
9083	dbpedia	1	49	https://www.currencyuniverse.in/post/philippines-currency-the-peso	en	Philippines Currency - The Peso	https://static.wixstatic…2a59d99~mv2.jpeg	https://static.wixstatic…2a59d99~mv2.jpeg	[ "https://static.wixstatic.com/media/d187bc_68c87599183941359287b886f91e7818~mv2.png/v1/fill/w_117,h_115,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/dollar%20clipart.png", "https://static.wixstatic.com/media/11062b_da1beeb791554b68840324eca2a59d99~mv2.jpeg/v1/fill/w_147,h_98,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/11062b_da1beeb791554b68840324eca2a59d99~mv2.jpeg", "https://static.wixstatic.com/media/11062b_18bf4e2cab9b4bf09644120de161879f~mv2.jpeg/v1/fill/w_147,h_98,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/11062b_18bf4e2cab9b4bf09644120de161879f~mv2.jpeg" ]	[]	[]	[ "" ]	null	[ "currencyuniverse" ]	2022-04-22T04:04:23.495000+00:00	The Philippine peso, also referred to by its Filipino name piso, is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos.In 1898, the country issued its currency backed by the Philippines' natural resources. In 1902, the US captured the Philippines and established a new currency pegged to gold, about half the price of a US dollar then. In 1993, the Philippine peso became a floating currency. Philippine coins and banknotes are mostly produced in the BS	en	https://static.parastorage.com/client/pfavico.ico	Currency Universe	https://www.currencyuniverse.in/post/philippines-currency-the-peso	The Philippine peso, also referred to by its Filipino name piso, is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos. In 1898, the country issued its currency backed by the Philippines' natural resources. In 1902, the US captured the Philippines and established a new currency pegged to gold, about half the price of a US dollar then. In 1993, the Philippine peso became a floating currency. Philippine coins and banknotes are mostly produced in the BSP Security Plant Complex (SPC). Over the past four decades, the SPC has become a world-class producer of quality coins and notes. It has overseen the design, production and issuance of four generations of legal tender Philippine currency. Few Important Points of the Philippine Peso (PHP) Symbols: ₱ ISO code: PHP Central Bank: Bangko Sentral ng Pilipinas Currency Subunit: Sentimo = 1/100 Denominations: Banknotes: ₱20, ₱50, ₱100, ₱200, ₱500, ₱1,000 Coins: 1, 5, 10, 25 sentimos, ₱1, ₱5, ₱10, ₱20 Countries using this currency: Philippines Currencies pegged to PHP: None PHP is pegged to: None When was the PHP currency introduced? Although currency of varying types has been used in the Philippines for a long time, the Philippine peso dates back to 1898. It was introduced by the revolutionary government after independence was declared. This form of the peso stopped being produced after the Philippines became an American colony, but the name peso lived on. Is the Philippine peso pegged to USD? The Philippine peso is not pegged to USD. However, pesos were pegged to the US dollar during the period that the US was in control of the Philippines. When the Philippines became independent in 1946 the central bank tried to keep the currency pegged to the dollar, but a black market trading in dollars grew up. This led to devaluation of the peso over time. The decision to officially stop pegging the peso to USD was taken in 1993, and the currency has been free floating since 2003. Where can you exchange Philippine peso? You’ll be able to change your money to Philippine pesos at your bank, at a branch of a currency exchange service, online or even in a hotel or airport. However, it’s good to know that the exchange rates and fees on offer may vary wildly. Typically the exchange rates used in airport and hotel exchange desks do not offer great value, for example. Historical exchange rate The official exchange rate was ₱2 against the U.S. dollar from 1946–62, devalued to ₱3.90/$ in 1962, and devalued again to ₱6.43/$ in 1970. Black market exchange rates during these periods, however, were nearly always higher than official rates. Several depreciations followed, with the peso trading at ₱18/$ in 1984 from the dirty float at ₱11.25/$ in 1983 and ₱21/$ in 1986. In the early 1990s, the peso depreciated again to ₱28/$. Due to the 1997 Asian financial crisis, the peso depreciated from ₱26/$ in July 1997 to ₱42/$ in 1998 and to about ₱50/$ in 2001. Black market exchange rates as seen in the past are now nonexistent since official exchange rates now reflect underlying supply and demand rather than political considerations. Value of the Philippine Peso (As on 22/04/2022) 1 Philippine Peso = INR 1.46 (Indian Rupees) 1 Philippine Peso = PKR 3.59 (Pakistani Rupees) 1 Philippine Peso = BDT 1.66 (Bangladeshi Taka) 1 Philippine Peso = USD 0.019 (United States Dollar) 1 Philippine Peso = EURO 0.018 (Euro) You can watch the following video in YouTube in my channel "CURRENCY UNIVERSE" to know more about Philippines' Currency. Please note that the videos are in Hindi. PHILIPPINES CURRENCY - THE PESO Have any thoughts. Be sure to leave a comment below for any doubts or queries !!
9083	dbpedia	0	52	https://www.thecurrencyshop.com.au/guides/currency-in-the-philippines	en	Currency in the Philippines: A Full Guide 2024	https://exiap-uk-uploads…n_6f6910a1d7.png	https://exiap-uk-uploads…n_6f6910a1d7.png	[ "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=48&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=96&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=96&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fclaire_millard_a2ee2271a7.jpeg&w=256&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=48&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=96&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=96&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2FIMG_3780_21b955055a.jpg&w=256&q=75 2x", "https://www.thecurrencyshop.com.au/_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fmedium_wise_7200025376.png&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fexiap-uk-uploads.s3.eu-west-2.amazonaws.com%2Fmedium_wise_7200025376.png&w=1920&q=75 2x" ]	[]	[]	[ "" ]	null	[ "Claire Millard" ]	2024-05-20T06:13:20.938000+00:00		en	https://exiap-uk-uploads…n_6f6910a1d7.png	The Currency Shop	https://www.thecurrencyshop.com.au/guides/currency-in-the-philippines	What is the currency in the Philippines? The official currency in the Philippines is the Philippine Peso, which is issued and overseen by the Bangko Sentral ng Pilipinas. If you’re buying your travel money online you may also see the official code being shown - PHP. In stores and restaurants, Philippine Peso prices are likely to use the currency symbol ₱. Once you’re in the Philippines you’ll see costs of items shown in PHP and you’ll need to start paying for things in local coins and notes which are often found in the following denominations: banknotes - 20, 50, 100, 200, 500, 1,000 and coins - 1, 5, 10, 25. Can you officially pay in AUD when you are in the Philippines? You’re unlikely to be able to officially transact in AUD in the Philippines, which is why it’s time to start getting used to PHP and learning more about the currency exchange rates so you’ll know what you’re spending on your trip. This guide will walk through all you need to know, including Australian Dollar/Philippine Peso rates and where best to get your travel money from. Philippine PesoCurrency namePhilippine PesoISO codePHPSymbol₱SubunitCentavoCentral BankBangko Sentral ng PilipinasBest travel cards to take to the PhilippinesWise Philippine Peso coins and banknotes Here’s a full rundown of the PHP coins and banknotes you’ll need to be familiar with when you’re in the Philippines. PHP banknotesPHP coins20, 50, 100, 200, 500, 1,0001, 5, 10, 25 Is AUD accepted in the Philippines? As we’ve seen, the official currency in the Philippines is PHP. If you carry Australian Dollars with you on your trip, you’ll probably need to exchange it before you can spend. Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies. However, the chances are that where this is offered, you won’t get a good exchange rate for your AUD. Planning smart and convenient ways to spend in PHP when you’re away is likely to mean you save on costs in the end. Usually, having a few different ways to pay and get cash is the best option for travellers and tourists. That’s because you’ll have a back up plan in case one payment method isn’t accepted for any reason, and you can pick the method that’s best suited to the specific transaction. Having a multi-currency card from a provider like Wise, plus your normal bank debit card, and some local cash in PHP should mean you’ve always got options. You can use your cash for small purchases and tipping, and make low cost payments and cash withdrawals with your multi-currency card, while keeping your bank card in reserve for emergencies. Use a travel card on your next trip to the Philippines Using a travel debit card in the Philippines is usually cheap, safe and convenient. A few providers in Australia offer multi-currency cards which come with a linked payment account that lets you convert, hold and spend in PHP. That allows you to add a balance in AUD and switch over to PHP to lock in the exchange rate and set your travel budget. Once you have PHP in your account there are no extra fees to make payments, and you’ll not have foreign transaction charges to worry about, either. Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in the Philippines. What is the currency exchange rate for £ 1 AUD/PHP? It’s helpful to get to know the live AUD/PHP rate so you can easily calculate how much things are costing you while you’re on your trip abroad. The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies. This rate isn’t always passed on to customers. Instead you may find that the AUD/PHP rate you get when exchanging travel cash includes a markup - an extra fee. Find the AUD/PHP mid-market rate from a currency conversion site or a website like this, so you can keep an eye on the market and compare the rates you’re offered as you travel against the mid-market rate easily. Should I exchange AUD to PHP before traveling to the Philippines? It’s a good idea to exchange Australian Dollars to Philippine Peso before you head off to the Philippines, as you can often find a better exchange rate and lower overall costs before you travel. When you’re in the Philippines you may need PHP in cash for some of your spending - particularly when tipping or making smaller value purchases. Buying your PHP travel money in advance can get you better AUD/PHP exchange rates, and saves you wasting precious time shopping around for a good deal once you arrive in the Philippines. Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of travel, using a card to pay while you’re away, or converting cash on arrival. Both in Australia and in the Philippines, steer clear of exchanging currency at the airport. A captive market means that AUD/PHP rates are often worse in the airport than in city centers. Tips for exchanging money in the Philippines At merchants and ATMs, make sure you’re charged in PHP. If you’re asked if you’d rather pay in AUD instead, say no. That’s a sign of dynamic currency conversion, which usually means extra costs. Withdrawing money in target-currency can be easy, particularly in big cities and Manila, here’s a few other tips if you want to exchange money in the Philippines Avoid using exchange providers at airports or hotels in the Philippines as they usually offer pretty poor exchange rates because they have a captive market and little competition nearby Use a travel debit card like the Wise card while you’re in the Philippines for fast and cheap conversion between currencies and easy ways to manage your money from your phone Best place to exchange currency in the Philippines You can get your PHP in the Philippines in a couple of ways. You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online. Or if you prefer an offline solution you can carry some cash in AUD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city centre are likely to be cheaper overall. How to pay in the Philippines? You’ll need to have PHP to spend in the Philippines. However, generally having a few different payment methods is a good plan. That means that if a merchant won't accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen. Here are your key payment options in the Philippines. Debit or credit card Card payments can be helpful in shops, restaurants and hotels but there will be places where cash is also important. Order a travel card from a provider like Wise for cheap and fast transactions, including card payments and cash withdrawals as and when you need travel money in PHP. Philippine Peso cash You’ll usually find you can use a card to make payments in the Philippines, but carrying some cash in PHP is also reassuring. It’s often easier for tipping and making smaller purchases, plus you’ve got a nice backup if your card is ever out of action for some reason. It’s a smart idea to have both a card and some cash in PHP when you’re in the Philippines. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Consider using a travel card from a provider like Wise alongside your cash for flexibility. Paying for the trip in AUD If you’re paying for things in the Philippines with a AUD bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate. Travel debit cards don’t always work this way. When you make purchases in the Philippines using the Wise card you can either choose to convert your account balance to PHP in advance in the Wise app, or just leave your balance in Australian Dollars and let the card handle the transaction when you pay. You’ll always get the lowest available fee and there are no extra foreign transaction charges. Conclusion - Currency in the Philippines You won’t be able to pay in AUD when you visit the Philippines - so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on PHP in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging AUD to PHP, and make your money go further while you’re away. The official currency in the Philippines is PHP. You can’t usually pay in Australian Dollars in the Philippines, so you’ll need to plan in advance to get your travel money sorted. Consider ordering a travel debit card from a service like Wise, for low cost conversions to PHP and convenient spending and withdrawals - and remember that knowing the AUD to PHP mid-market exchange rate is essential to check you’re getting a fair deal on currency exchange. FAQ - Currency in the Philippines What is the currency in the Philippines called? The official currency in the Philippines is the Philippine Peso. You may also see the code PHP and the currency symbol ₱. What's the currency in Manila? The official currency in Manila is the Philippine Peso. You’ll only be able to spend in PHP while you’re there. What is the old the Philippines currency? Today the currency in the Philippines is the Philippine Peso. If you’re worried about currencies changing, why not get a travel debit card from a service like Wise which will automatically pick the currency needed in your destination when making a payment - with no penalties or inflated fees. What is the best currency to take to the Philippines? You’ll only be able to spend in PHP while you’re in the Philippines. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.
9083	dbpedia	3	11	https://www.smallworldfs.com/en/blog/what-is-the-currency-of-the-philippines	en	The Philippine peso: the currency of the Philippines	https://www.smallworldfs…ilippine_(1).jpg	https://www.smallworldfs…ilippine_(1).jpg	[ "https://www.smallworldfs.com/assets/www/pictures/small-world-money-transfer-blue.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-money-transfer-blue.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-money-transfer-white.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-white.png", "https://www.smallworldfs.com/assets/www/images/icons/facebook-share-icon.png", "https://www.smallworldfs.com/assets/www/images/icons/twitter-share-icon.png", "https://www.smallworldfs.com/assets/www/images/icons/linkedin-share-icon.png", "https://www.smallworldfs.com/filemanager/userfiles/blog/philippines-currency-moneta-filippine_(1).jpg", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/follows-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/small-world-white.png", "https://www.smallworldfs.com/assets/www/pictures/appstore-sprite.png", "https://www.smallworldfs.com/assets/www/pictures/appstore-sprite.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_on.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_off.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_on.png", "https://www.smallworldfs.com/assets/www/images/icons/cookies_switch_off.png" ]	[]	[]	[ "" ]	null	[ "SmallWorld", "www.smallworldfs.com" ]	2021-10-08T00:00:00	How do you send money to The Philippines? What is the currency in The Philippines? Learn everything you need to know about the Philippine peso.	en	/assets/www/images/favicon/apple-touch-icon.png	Small World Money Transfer	https://www.smallworldfs.com/en/blog/what-is-the-currency-of-the-philippines	The Philippines is a country of around 7,640 islands scattered across the western Pacific Ocean. If you have family and friends living in the Philippines, or you’re thinking about travelling there, you may want to know a bit more about the country. Learning about the currency of the Philippines is a great place to start. In this blog we’ll be exploring everything you need to know about the currency of the Philippines. Below you’ll learn about: The Filipino local currency, the Philippine peso How is the Philippine peso recognised? The history of the Philippine peso The Philippine peso today Exchange rates How can I send money to The Philippines from the United States? What currency does the Philippines use? The currency of the Philippines is the Philippine peso. The currency is also commonly referred to by its Filipino name: piso. The currency of the Philippines was for a long time tied up with currencies of Spanish and American colonists. But now the Philippine peso is controlled and issued by the central bank, Bangko Sentral ng Pilipinas (BSP). The Philippine peso is printed and minted at The Security Plant Complex. The colourful peso notes are very distinctive and feature several notable figures from Filipino history. How is the Philippine peso recognised? The Philippine peso is recognised by the sign: ₱ and the currency is internationally recognised by the code PHP. Alternative symbols are also used including: “PhP”, “Php” or “P”. The subunit for the Philippine peso is called the Sentimo or Centavo, which subdivides into 1 peso one hundred times. However, the smaller denominations are not in widespread circulation and it’s rare to find any 1¢, 5¢, 10¢, 25¢ or ₱20. The frequently used denominations include the ₱20, ₱50, ₱100, ₱500, and the ₱1000. The history of the Philippine peso The currency of the Philippines has had a long and difficult history. Before the Philippine peso, there was the Spanish-Filipino Peso and shortly after that the currency was pegged to half of the US Dollar. It wasn’t until the Central Bank of the Philippines was established in 1949 that the formal Filipino currency was reintroduced to the country. Then in 1967 the English language was removed from the notes and coins of the Philippine peso and the Filipino language was used on all the denominations. As a result the word “piso'' came into common use within the country instead of peso. During the latter half of the twentieth century the Philippines experienced positive economic and political developments which enabled the currency to stabilise and improve. And in 1993 the old Central Bank was replaced with a new Central bank: Bangko Sentral ng Pilipinas whose responsibility was to maintain price stability and help the Philippine peso grow. Although the Philippines endured plenty of overseas interference which saw their currency experience many changes over the years, they now have a more stable currency that is tied to the culture and history of the Philippines. The Philippine peso today The current series of the Philippine peso in circulation is called the New Generation Currency. In 2009, Bangko Sentral ng Pilipinas (BSP) decided it was time for some change and they launched a large-scale redesign of the currency. The new banknotes were an attempt to improve security features and ensure that the currency was more durable. The notes also featured enlarged font size, italicised names, new text and new images. The vibrant and distinct coloring for many of the notes still remains. For example, the bright orange ₱20 note features the famous Filipino statesmen Manuel L. Quezon and the Malacanang Palace on the obverse side, and the famous Banaue Rice Terraces on the reverse side. Similarly, the red ₱50 note depicts the fourth President of the Philippines Sergio Osemña on the obverse side and images of the Taal Lake and the maliputo (giant trevally) on the reverse side. In the last decade some further changes to the peso circulation occurred. In 2016 Bangko Sentral ng Pilipinas (BSP) started to distribute new 100-peso notes that supposedly made it easier to differentiate the colours of the 100-peso and 100-peso banknote. In 2019, Bangko Sentral ng Pilipinas (BSP) also announced that it would convert the ₱20 note into a coin. So we know what the Philippine peso looks like today, but what about it’s worth? To truly understand the state of the Philippine peso today we have to take a look at some exchange rates. Exchange rates It’s useful to compare the Philippine peso to other major currencies around the world. With that knowledge we can work out the general state of the Filipino economy and we can decide when is the best time to send money to the Philippines. In the opening months of 2021 the average exchange rate of the US dollar to the Philippine peso was 1 USD to 48.7 PHP, with a low of 47.5 PHP and a high of 50.9 PHP. In addition, during a similar period in 2021 the average exchange rate of the Euro to the Philippine peso was around 1 EUR to 58.3 PHP. This is useful information to consider when thinking about sending money to the Philippines from the United States. How can I send money to The Philippines from the United States? You can send money to The Philippines with Small World’s simple and effective money transfer service. Now that you have some knowledge of the Philippine peso it will be easier to know where your money is going and how much it is worth in the Philippines. You may still have more questions like, “Where should you buy currency in the Philippines?”, or “How do you send paper currency to the Philippines?”. Thankfully, we’ve got you covered. There are several ways to send money to the Philippines with Small World, including: Bank deposit, Cash Pickup, Cash Card Reload, Airtime Top-up and Home delivery. Small World has facilitated millions of money transfers all around the world. Our money transfer services are available in many major states including California, Texas, New York, New Jersey and Florida. So if you need to support your loved ones in the Philippines, rely on Small World.
9083	dbpedia	0	13	https://blog.remitly.com/currencies/philippine-peso-guide-peso-rates-exchanging-transferring/	en	Philippine Currency Guide: History, Exchange Rate, and Transfers	https://blog.remitly.com…ne-currency.jpeg	https://blog.remitly.com…ne-currency.jpeg	[ "https://blog.remitly.com/wp-content/uploads/2021/02/pile-of-Philippine-currency-1024x683.jpeg", "https://blog.remitly.com/wp-content/uploads/2021/02/pile-of-Philippine-currency-1024x683.jpeg", "https://blog.remitly.com/wp-content/uploads/2022/10/PHL-App-ad.png 970w, https://blog.remitly.com/wp-content/uploads/2022/10/PHL-App-ad-300x84.png 300w, https://blog.remitly.com/wp-content/uploads/2022/10/PHL-App-ad-768x215.png 768w", "https://blog.remitly.com/wp-content/uploads/2022/10/PHL-App-ad.png", "https://blog.remitly.com/wp-content/uploads/2021/02/peso-2169915_1920-1024x683.jpg", "https://blog.remitly.com/wp-content/uploads/2021/02/peso-2169915_1920-1024x683.jpg", "https://blog.remitly.com/wp-content/uploads/2018/03/phl_fb-1024x1024.jpg", "https://blog.remitly.com/wp-content/uploads/2018/03/phl_fb-1024x1024.jpg", "https://blog.remitly.com/wp-content/uploads/2020/06/PHL_Edited_Scenery_Volcano_GettyImages-738815199-1024x1024.jpg", "https://blog.remitly.com/wp-content/uploads/2020/06/PHL_Edited_Scenery_Volcano_GettyImages-738815199-1024x1024.jpg", "https://blog.remitly.com/wp-content/uploads/2021/01/person_holding_100_and_500_philippine_peso_banknotes-scopio-c9d3ad82-6e5d-4376-a953-e7179439f630-1024x683.jpg", "https://blog.remitly.com/wp-content/uploads/2021/01/person_holding_100_and_500_philippine_peso_banknotes-scopio-c9d3ad82-6e5d-4376-a953-e7179439f630-1024x683.jpg", "https://blog.remitly.com/wp-content/uploads/2022/10/Screenshot-14-Do-Not-Use.png 835w, https://blog.remitly.com/wp-content/uploads/2022/10/Screenshot-14-Do-Not-Use-300x300.png 300w, https://blog.remitly.com/wp-content/uploads/2022/10/Screenshot-14-Do-Not-Use-175x175.png 175w, https://blog.remitly.com/wp-content/uploads/2022/10/Screenshot-14-Do-Not-Use-768x770.png 768w, https://blog.remitly.com/wp-content/uploads/2022/10/Screenshot-14-Do-Not-Use-120x120.png 120w", "https://blog.remitly.com/wp-content/uploads/2022/10/Screenshot-14-Do-Not-Use.png", "https://blog.remitly.com/wp-content/themes/remitly/assets/logos/footer-logo.png", "https://blog.remitly.com/wp-content/themes/remitly/assets/logos/footer-logo.png", "https://blog.remitly.com/wp-content/themes/remitly/assets/icons/apps/google-play.png", "https://blog.remitly.com/wp-content/themes/remitly/assets/icons/apps/google-play.png", "https://blog.remitly.com/wp-content/themes/remitly/assets/icons/apps/apple-store.png", "https://blog.remitly.com/wp-content/themes/remitly/assets/icons/apps/apple-store.png" ]	[]	[]	[ "" ]	null	[ "Evelyne Kuo" ]	2023-11-01T01:59:42+00:00	Use this Philippine currency guide to learn about the history of the Philippine peso and how to convert and send money to the Philippines.	en	https://blog.remitly.com…Blue-120x120.png	Beyond Borders	https://blog.remitly.com/currencies/philippine-peso-guide-peso-rates-exchanging-transferring/	&nbsp &nbsp << 7 Fascinating Facts about the Dominican Peso>> Meet the Quetzal: Guatemala Currency Facts for Visitors and Expats &nbsp Do you need to send or exchange Philippine pesos? Maybe you plan to travel to Southeast Asia sometime soon and want local cash when you arrive. Or maybe you need to send money home to your parents or friends. Regardless of your reason, there are many ways to buy Philippine pesos or wire money abroad. But Philippine currency is more than just local money: It’s also a part of the nation’s history. Keep reading for more information on Philippine currency, including its history, interesting facts, and how to get the best Philippine peso rates. An introduction to Philippine currency: The peso Printed by the Central Bank of the Philippines, or Bangko Sentral ng Pilipinas, the Philippine peso, locally called the piso in Tagalog, is the national currency of the Philippines. A peso is divided into 100 sentimos, similar to how one U.S. dollar (USD) divides into 100 cents. If you’re unfamiliar with the Philippine currency, here are some quick facts about the peso: Currency code: PHP Abbreviation: ₱ Coin denominations: 1, 5, 10, 20 pesos and 1, 5, 10, and 25 sentimos Banknotes: 20, 50, 100, 200, 500, 1,000 History of the Philippine peso Like the United States dollar and several Latin American currencies, the modern-day Philippine currency originally came from the Spanish peso. But before the Spanish introduced the peso, Philippine communities used gold bits, a currency known as salapi, or the rupya, silver coins from India and Indonesia. Even after the Spanish peso became the primary currency in 1565, island residents continued using the salapi, which the Spaniards branded as a half-peso coin. Although the Spanish peso underwent several changes, it remained a common currency in the Philippines until the early 1900s. Everything changed in 1898, though, when the Philippines achieved independence from Spain. During this time, the new government introduced the centavo coin, which would become a subdivision of the peso. While the centavo coin is used today as sentimo, it temporarily fell out of use during the American colonial period. But after two world wars and Japanese occupation, the Philippines regained its independence in 1946. The Central Bank of the Philippines, now called the Bangko Sentral ng Pilipinas, was founded in 1949 and took over the responsibility of designing and printing a new Philippine currency, the modern peso. The Philippine peso exchange rate explained At the time of writing in May 2022, 1 USD equals around 52 PHP. For the last 180 days, according to OANDA’s historical rate charts, the exchange rate hovered between 1:49 and 1:52. Why is there such a gap between these two currencies? It comes down to the differences between the government and economies of the United States and the Philippines. Several factors can affect the trading value of a currency, including: Trade relations Economic growth Government stability and freedom Demand Since the United States dollar is generally more stable and in greater demand than the Filipino peso, it tends to be valued more highly in the global currency market. However, this isn’t true for the peso in all markets. The difference is much less between other common currency pairs, like the Malaysian ringgit (1 ringgit equals around 12 PHP) and the Saudi Arabian riyal (1 riyal equals almost 14 PHP) at the time of writing. Meanwhile, if you want to trade your Filipino pesos for Indonesian rupiah (IDR), you’ll have a better rate, with 1 PHP equaling around 277 IDR at the time of writing. Here are some of the current conversion rates between other global currencies and the peso: 1 Swiss franc (CHF) = 53 pesos 1 pound sterling (GBP) = 65 pesos 1 Australian dollar (AUD) = 37 pesos 1 Hong Kong dollar (HKD) = 7 pesos 1 United Arab Emirates dirham (AED) = 14 pesos 1 Japanese yen (JPY) = 0.5 peso 5 facts you might not know about the Philippine peso The peso has a long and storied history in the Philippines. After nearly 500 years of circulation, there are so many interesting facts about the Philippine currency, but these are our top five. 1. The Philippine currency comes from the Spanish “Real of 8” The peso came from the Spanish dollar or the “Real of 8,” which was a silver coinage. The Spanish “Real of 8” came in 1/2-, 1-, 2-, 4- and 8-real coins and was recognized across the globe. 2. Filipino pesos used to be tied to gold and the U.S. dollar When the United States still held control of the Philippines, it passed the Philippine Coinage Act of 1903. This tied the value of the peso to a gold coin, which was worth half of one U.S. dollar. After achieving its independence in 1946, the Philippines dropped this standard. 3. There used to be a subset of the Philippine peso called Culion currency In 1906, the island government minted separate pesos for those suffering from leprosy in the Culion colony. At the time, the government mistakenly believed that leprosy could be transmitted through exchanging money. Although printed in Manila, the Culion currency was prohibited outside of the colony for fear of spreading disease. 4. During WWII, special pesos were printed to undermine Japanese occupation Known as “guerrilla pesos,” this currency was used by the local government to defy Japanese occupiers, who attempted to circulate their own version of the peso. In fact, until 1944, it was illegal to possess or use guerrilla pesos. 5. An error in 2005 created rare peso notes for collectors About 78 million 100-peso notes printed in the early 2000s had a major typography error: President Gloria Macapagal Arroyo’s surname was misspelled as “Arrovo.” Only 2 million of these notes ended up in circulation, but today, they’re considered a rarity for currency collectors. Currency converter for the Philippine peso Planning to visit the Philippines? You can find current PHP exchange rates in the Remitly app or on our website if you need to calculate how your currency will convert. You have a few options for converting your money into Philippine currency, but each comes with pros and cons. Whichever route you choose, be sure to plan ahead of your visit so you have enough cash for your stay. Exchange money at the airport: Airport exchanges are convenient, but they can be pricey. Take out pesos from an ATM: ATMs are easy to use in major population centers, but they come with international transfer fees, and they’re hard to find outside of the Philippines’ main cities. Order pesos from your local bank before you arrive: This option can help you avoid pricey fees once you land in the Philippines, but there’s always a danger to traveling with a lot of cash. Plus, you’re only legally allowed to bring 10,000 pesos into the country (currently less than $200 USD). Use your credit cards: Credit cards are generally accepted in major tourist destinations and cities like Manila, Cebu, and Boracay. But you’ll want cash in most other areas. Buy pesos at a foreign exchange counter at an SM Mall: Usually, SM Mall or department store branches in the Philippines have a foreign exchange counter where you can buy pesos. To do this, you’ll want to use crisp, new USD. Additionally, you should request 500 peso notes or less. Larger bills, like the 1,000 note, are often harder to break. Send money to the Philippines Maybe you don’t want quick cash for a tourist trip, and instead, you need to send Philippine currency to friends or family. Or perhaps you plan to stay in the country for an extended period and need a reliable method for transferring money before you leave. In both cases, you may also need to send large sums of money. And the last thing you want to do is pay hundreds of pesos in fees. International money transfer apps like Remitly make it easier to send money quickly and affordably to the Philippines. We offer a flat, transparent fee when sending to the Philippines from the U.S., which at the time of writing goes down to zero when you send $1,000 or more using your debit card. Not only that, but your loved ones can receive the money in a variety of ways. Send money to a Filipino bank account, a mobile wallet account like GCash, or pick up cash from thousands of locations around the country.
9083	dbpedia	2	0	https://asia.nikkei.com/Business/Markets/Currencies/Philippine-peso-falls-to-18-month-low-against-dollar	en	Philippine peso falls to 18-month low against dollar	https://www.ft.com/__ori…s&source=nar-cms	https://www.ft.com/__ori…s&source=nar-cms	[ "https://www.facebook.com/tr?id=1076130949081971&ev=PageView&noscript=1", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F5%2F9%2F6%2F1%2F47711695-1-eng-GB%2F2017-08-14T104154Z_1569922777_RC118E092730_RTRMADP_3_PHILIPPINES-ECONOMY-PESO.JPG?width=700&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F1%2F2%2F1%2F9%2F47659121-3-eng-GB%2FCropped-17151547242022-12-30T095255Z_2020649318_RC25GY9LYHDU_RTRMADP_3_NEW-YEAR-PHILIPPINES.JPG?width=693&height=390&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F9%2F9%2F0%2F9%2F47709099-3-eng-GB%2FCropped-1716191708philippine+1.png?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F4%2F1%2F5%2F7%2F47707514-3-eng-GB%2FCropped-1716178128AP24136153285274.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F7%2F3%2F5%2F1%2F47601537-3-eng-GB%2FCropped-1713952243AP21322350622550.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F4%2F7%2F2%2F4%2F48104274-1-eng-GB%2Fphoto_SXM2024080900007394_2048x1152.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F0%2F5%2F5%2F2%2F48062550-3-eng-GB%2FCropped-1722594588photo_SXM2024073000004380.jpg?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F5%2F0%2F4%2F4%2F48094405-3-eng-GB%2FCropped-17231623122018-02-21T000000Z_5017252_RC18E6C85080_RTRMADP_3_GLOBAL-MARKETS.JPG?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms", "https://asia.nikkei.com/bundles/app/images/app-modal.png?ez" ]	[]	[]	[ "Philippine", "peso", "falls", "18-month", "low", "dollar" ]	null	[ "MASAYUKI YUDA" ]	2024-05-21T03:58:13+00:00	TOKYO -- The Philippine peso fell to its lowest point versus the dollar since November 2022, as the country's central bank shifts away from a hawkish	en	/apple-touch-icon-144x144.png?ez	Nikkei Asia	https://asia.nikkei.com/Business/Markets/Currencies/Philippine-peso-falls-to-18-month-low-against-dollar	TOKYO -- The Philippine peso fell to its lowest point versus the dollar since November 2022, as the country's central bank shifts away from a hawkish monetary policy. The peso slipped to 58.13 per dollar on Tuesday, falling past the 57.95 mark it hit April 25.
9083	dbpedia	3	46	http://philippine-embassy.de/bringing-currency-into-the-philippines/	en	Bringing Currency into the Philippines	http://philippine-embassy.de/wp-content/themes/md_philippines/images/favicon.ico	http://philippine-embassy.de/wp-content/themes/md_philippines/images/favicon.ico	[]	[]	[]	[ "" ]	null	[]	null		en	http://philippine-embassy.de/wp-content/themes/md_philippines/images/favicon.ico		http://philippine-embassy.de/bringing-currency-into-the-philippines/	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP, Central Bank of the Philippines) has regulations on the amount of currency that a traveler can carry into or out of the Philippines. Philippine Peso A person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas. The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines. The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority. The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. 922, series of 2016, dated 23 August 2016, titled “The Amendments of the Rules on Cross-Border Transfer of Local Currency”. Amounts exceeding the limit are usually allowed only for the following purposes: Testing/calibration of money counting/sorting machines; Numismatics (collectors of currency); and, Educational purposes. International Passenger Service Charge (IPSC) for exempt passengers is not included in computing the amount of pesos brought to or from the Philippines. Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs. Foreign Currency and/or Monetary Instrument in Excess of USD 10,000.00 or its equivalent
9083	dbpedia	3	31	https://www.philippine-embassy.org.sg/travel-advisories/bringing-currency-into-the-philippines/	en	Bringing Currency into the Philippines			[ "https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1.png 856w, https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1-300x70.png 300w, https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1-768x179.png 768w", "https://www.philippine-embassy.org.sg/wp-content/uploads/elementor/thumbs/Untitled-design-4-qk7jrqtp85fw5frs5wmge5ubnvbellphyoev7252hc.png", "https://cdn.printfriendly.com/buttons/printfriendly-pdf-email-button-notext.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1.png 221w, https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1-150x150.png 150w" ]	[]	[]	[ "" ]	null	[]	2015-04-03T05:14:22+08:00	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral. Philippine Peso A person	en		Embassy of the Philippines in Singapore - Embassy of the Philippines in Singapore	https://www.philippine-embassy.org.sg/travel-advisories/bringing-currency-into-the-philippines/	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral. Philippine Peso A person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas. The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines. The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority. The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. 922, series of 2016, dated 23 August 2016, titled “The Amendments of the Rules on Cross-Border Transfer of Local Currency”. Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs. Foreign Currency A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines. Other monetary instruments include travellers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment. If a person wishes to bring more that the equivalent of USD 10,000, a written declaration must be made in the form of the BSP’s “Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form” which may be downloaded from http://www.bsp.gov.ph/regulations/regulations.asp?type=1&id=631. Rules on bringing Philippine of Foreign Currencies into or out of the Philippines Manual of Regulations on Foreign Exchange Transactions
9083	dbpedia	1	28	https://www.manorfx.com/product/philippine-peso/	en	Buy Philippine Pesos online - PHP home delivery	https://www.manorfx.com/…so-banknotes.jpg	https://www.manorfx.com/…so-banknotes.jpg	[ "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/arrow.3a4b6a.svg", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/search.60803d.svg", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/carousel/card-rates.e9b25d.webp", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/carousel/yahoo-news.7a0b72.webp", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/carousel/Mirror.97e045.webp", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/carousel/The-Sun-1.5aca62.webp", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/carousel/the-week.66c3ee.webp", "https://www.manorfx.com/app/uploads/2024/03/z3tduNXhwW54g5VEXpdPFsQjwANtuuVQEsyVcSIKP6XxvB_dMTIbtY_7nJqmjiCrq2LJW82Lig76UuI4AdQ-svGYgattpwKIiFk221j3oR41C-MGenPhMnYCMXy_xmmN_Ro1hl9lWFVW8BD5oK1Rpg.jpg", "https://www.manorfx.com/app/uploads/2024/03/yBJsovGacMlrrGYNoCQHol0eKN38SwbMjeJ322T48hfmmBRCjk8Cd5_Bob_9LNVI0uw7CwTIjkA9U00d5zna0bokCg8jzzeX4Y0kgDiBXo3PfbZuS5xdUU6zKluGRW3GIjxUwNR4orrk6VOMS2C00JM.jpg", "https://www.manorfx.com/app/uploads/2024/03/PnOQFANni255zU7qnKpF82U2yrbz37_R_XO_qc25mUivysRrqhaG2rKFLLVp_cJPgt5HGlpiK_1lnMTEbyC5RvngMebpTS_LHU-erHeGWNTtQ81WGJeIdbCWEhUlIjcq7TF3EoG_rUYrVk2rSBOfVBk.jpg", "https://www.manorfx.com/app/uploads/2024/03/GjdkSJAh1KMT7lojqT8OQkCqOYkG4LR0wky4uh1Il7Dpi8Bi9pgUHgSP1_jVHd3eO-rwcglGdgRbCbhFXWJj9DjhHJhUgiG_Ih-5vtixz3-EJd5R3V9-y0p-9LJtS1BeQo1e2v3wWqREkMRQWFCEiGw.jpg", "https://www.manorfx.com/app/uploads/2024/03/x26yMoWSDOnrLVrCqUd13j4M2GKL9eTKFM4xkiv2dptbY9lt67LC-gCZNfy_8YLVgxIimZ7Z69Ze2ugl9VLO9Mi8lhhUM7L1O6PC-7iBMz74Ffme-Bgbbt_j6Yy_dNozpUcNfqrdWaZ9ZTS3NzpQXDc.jpg", "https://www.manorfx.com/app/uploads/2024/03/YZZc31U5RisJTbTJaXEAe03xbbhRJ148KWuxSr-Z3op7HbpMP8kORuSKzwMmZSa5-0FO39e9rmxJG7kTWCdxmKU58CwRGLBRaPqGbaeDp0wrb7KO7o8TOgWLj27P_4y6PEEh7AE4g76Elvpn5nxo1U8.jpg", "https://www.manorfx.com/app/uploads/2019/06/current-philippine-peso-banknotes-1024x380.jpg 1024w, https://www.manorfx.com/app/uploads/2019/06/current-philippine-peso-banknotes-300x111.jpg 300w, https://www.manorfx.com/app/uploads/2019/06/current-philippine-peso-banknotes-768x285.jpg 768w, https://www.manorfx.com/app/uploads/2019/06/current-philippine-peso-banknotes-600x223.jpg 600w, https://www.manorfx.com/app/uploads/2019/06/current-philippine-peso-banknotes.jpg 2000w", "https://www.manorfx.com/app/uploads/2024/03/LkIHhfEryhc7gj_5uyHxHrY1MRTk0j-S1Y-30EmRGK7YyflF_bsRwY6tABR7952Y2OD8lef1FksXcYiDhvU4G17TJoOtiQohYpTH77lRRdDoXriG61xtZ7YtWQ8KKWxH0l4pIJmrKGkBvED0E19IGM.jpg", "https://www.manorfx.com/app/uploads/2023/07/Group-31.webp", "https://www.manorfx.com/app/uploads/2023/07/73x73-7-1.webp", "https://www.manorfx.com/app/uploads/2023/07/Group-31-1.webp", "https://www.manorfx.com/app/uploads/2019/04/Tom-Starley-1-300x300.png", "https://www.manorfx.com/app/uploads/2019/04/13754445_10209930628639342_3745729459477794658_n-e1568901077270.jpg", "https://www.manorfx.com/app/uploads/2019/04/Dale-Grant-300x300.jpeg", "https://www.manorfx.com/app/themes/manorfx-sage10/public/images/arrow.3a4b6a.svg" ]	[]	[]	[ "" ]	null	[]	2019-06-03T23:50:58+00:00	Get your Philippine pesos online now. Enjoy top exchange rates and quick, free delivery on the next working day for orders above £750.	en	https://www.manorfx.com/…6-1-100x100.webp	ManorFX	https://www.manorfx.com/product/philippine-peso/	Heading off to the Philippines? Secure the best British pound to Philippine peso exchange rate online Jump into your Philippine journey confidently by snapping up the best pound to PHP exchange rate available. Whether you’re dreaming of lounging on the white sands of Boracay or getting lost in the historic streets of Intramuros, Manor FX has your back. Choose the convenience of having your Philippine pesos sent right to your doorstep or office. Or, if you prefer, collect them from our bureau near Heathrow. Trust Manor FX for swift delivery and a simple online order process. You won’t want to miss our unbeatable GBP to PHP peso exchange rate. Philippine travel money Buzzing about your trip to the Philippines? Here’s what you need to know about handling your cash in this stunning archipelago. Where can I buy Philippines currency? When hunting for the best place to buy Philippine peso, you have plenty of options: High street banks: Convenient but may not offer the best value. Airport kiosks: Super handy, but beware of the high fees. Local foreign exchange bureaus: Good rates can often be found here. At Manor FX, here in Datchet near Heathrow, we don’t charge service fees. Online currency exchanges: Typically the best deal. Manor FX ups the ante with free delivery on orders over £750 and next-working-day delivery. Count on Manor FX for your Philippine travel money needs. We promise top deals and the best pounds to Philippine peso rate today. Can you buy Philippine pesos in the UK? Definitely! Philippine pesos are readily available right here in the UK through Manor FX. Our online platform makes getting the Philippine currency you need for your adventure a breeze. Get excellent rates for GBP to Philippine peso conversions and make your travel fund stretch further. And don’t forget, we offer free delivery for orders over £750. Turn your GBP to PHP peso exchange into a smooth and worry-free experience for your holiday. Should I exchange money before I travel to the Philippines? Yes, It’s wise to exchange money before heading to the Philippines. Having Philippine pesos in your pocket when you land means you can immediately cover early costs like transport from the airport and your initial meals without any hassle. What is the best currency to bring to the Philippines? The Philippine peso is the official currency and your best bet. You might find some places that accept major foreign currencies, but using PHP is usually more convenient and economical. You can order Philippine pesos online today with Manor FX. Can I use my bank card in the Philippines? Yes, you can use your debit or credit card in the Philippines, but having a mix of cash and card is wise. Smaller shops and local markets often prefer cash. Bigger stores and restaurants are usually fine with cards. Tip: Always inform your bank about travels to avoid card issues abroad. Should I use cash in the Philippines? While the Philippines is gradually moving towards digital payments such as Apple Pay, cash is still essential for smaller transactions. ATMs are widespread, making it easy to withdraw cash when needed. Maintaining a balance of cash and card payments is wise in the Philippines. Use cash for minor purchases and keep the card for bigger expenses. Manor FX can convert any leftover Philippine pesos to GBP if you have extra after your trip. We’ll make sure you get the best Philippine peso to pounds rate. Is it better to use cash or credit card in the Philippines? In the Philippines, credit and debit cards are widely accepted in most shops, restaurants, and tourist spots. But it’s still a good idea to have cash for smaller purchases and in places that don’t take cards. How can I avoid ATM fees in the Philippines? To avoid ATM fees in the Philippines: Check if your bank has agreements with Philippine banks for free withdrawals. Withdraw larger amounts less often to reduce transaction fees. Seek out ATMs with lower fees. Is the Philippines an expensive country to visit? The Philippines offers a mix of costs. It’s generally more affordable compared to Western countries. But don’t fret! There are plenty of ways to enjoy the Philippines without spending loads. You can savour delicious meals at local eateries for just a few pounds, visit stunning beaches for free, and use public transport to explore the islands efficiently. So, while the Philippines has its pricey spots, you can find ways to make your visit economical. How much cash should I take to the Philippines? Enjoying the Philippines doesn’t have to cost a fortune, whether you’re backpacking, opting for mid-range comfort, or going all out on a luxury holiday. Here’s how you can make the most of your visit to this beautiful country, regardless of your budget. Backpacking the Philippines on a budget Around 1,500 PHP, roughly £22 a day, will cover hostel accommodation, eating at local eateries, public transport, and mainly free activities like beach hopping. Mid-range budget With 4,000 PHP a day, about £60, you can stay in a decent hotel or a private room in a hostel, dine out for every meal at mid-range restaurants, enjoy a couple of drinks, use taxis occasionally, and visit some paid attractions like historical sites and island hopping tours. Luxury budget: Starting from 10,000 PHP a day, around £150, you can indulge in fine dining for every meal, travel comfortably with private transports, stay in luxury resorts, and choose any tours and activities that catch your fancy. But remember, when it comes to luxury in the Philippines, the sky’s the limit! How does tipping work in the Philippines? Tipping in the Philippines is pretty straightforward. In many restaurants, a 10% service charge is already included in your bill, so extra tipping is optional. But for exceptional service, a little extra is always appreciated. Philippine Currency Philippine banknotes Philippine banknotes feature a range of historical figures and natural wonders, showcasing the country’s rich heritage and biodiversity. The banknotes are available in denominations of 20, 50, 100, 200, 500, and 1,000 PHP, each with a unique design reflecting Filipino spirit and pride. Philippine coins Philippine coins come in denominations of 1, 5, 10, and 25 centavos, as well as 1, 5, and 10 pesos. 1 peso: Features the national hero, Jose Rizal. 5 pesos: Depicts the great leader, Andres Bonifacio. 10 pesos: Features the revolutionary duo, Apolinario Mabini and Andres Bonifacio. The coin designs celebrate the Philippines’ journey to freedom and its distinguished heroes. Philippine currency import and export regulations When travelling to or from the Philippines, handling money is straightforward. Here’s what you should know: You’re free to bring in and take out as much Philippine currency as you like. But, if you carry over ₱50,000 (or its foreign currency equivalent), you must declare it. This rule helps maintain transparency and security. Ordering Philippine pesos online Get the best British pound to PHP rates when you complete your currency order with Manor FX. Order Philippine pesos online for quick and secure delivery to your door or workplace. We use Royal Mail Special Delivery Guaranteed® for your peace of mind. Alternatively, click and collect your PHP from our travel money bureau – conveniently located near Heathrow. Ready to exchange pounds to Philippine pesos online today? Manor FX makes it straightforward and hassle-free. Convert Philippines currency to GBP Got extra PHP after your trip? Manor FX offers competitive currency rates to convert PHP to GBP. Simply select ‘Sell currency’ on our website and choose ‘Philippine pesos’ to convert Philippine pesos to pounds. Then, decide how you’d like to pay. You can opt for a bank transfer, pay by card or pay when you collect – using cash, a credit card, or a debit card. We ensure a smooth process and great rates for your Philippine pesos to pound sterling exchange. FAQs
9083	dbpedia	0	64	https://www.currencyuniverse.in/post/philippines-currency-the-peso	en	Philippines Currency - The Peso	https://static.wixstatic…2a59d99~mv2.jpeg	https://static.wixstatic…2a59d99~mv2.jpeg	[ "https://static.wixstatic.com/media/d187bc_68c87599183941359287b886f91e7818~mv2.png/v1/fill/w_117,h_115,al_c,q_85,usm_0.66_1.00_0.01,enc_auto/dollar%20clipart.png", "https://static.wixstatic.com/media/11062b_da1beeb791554b68840324eca2a59d99~mv2.jpeg/v1/fill/w_147,h_98,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/11062b_da1beeb791554b68840324eca2a59d99~mv2.jpeg", "https://static.wixstatic.com/media/11062b_18bf4e2cab9b4bf09644120de161879f~mv2.jpeg/v1/fill/w_147,h_98,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/11062b_18bf4e2cab9b4bf09644120de161879f~mv2.jpeg" ]	[]	[]	[ "" ]	null	[ "currencyuniverse" ]	2022-04-22T04:04:23.495000+00:00	The Philippine peso, also referred to by its Filipino name piso, is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos.In 1898, the country issued its currency backed by the Philippines' natural resources. In 1902, the US captured the Philippines and established a new currency pegged to gold, about half the price of a US dollar then. In 1993, the Philippine peso became a floating currency. Philippine coins and banknotes are mostly produced in the BS	en	https://static.parastorage.com/client/pfavico.ico	Currency Universe	https://www.currencyuniverse.in/post/philippines-currency-the-peso	The Philippine peso, also referred to by its Filipino name piso, is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos. In 1898, the country issued its currency backed by the Philippines' natural resources. In 1902, the US captured the Philippines and established a new currency pegged to gold, about half the price of a US dollar then. In 1993, the Philippine peso became a floating currency. Philippine coins and banknotes are mostly produced in the BSP Security Plant Complex (SPC). Over the past four decades, the SPC has become a world-class producer of quality coins and notes. It has overseen the design, production and issuance of four generations of legal tender Philippine currency. Few Important Points of the Philippine Peso (PHP) Symbols: ₱ ISO code: PHP Central Bank: Bangko Sentral ng Pilipinas Currency Subunit: Sentimo = 1/100 Denominations: Banknotes: ₱20, ₱50, ₱100, ₱200, ₱500, ₱1,000 Coins: 1, 5, 10, 25 sentimos, ₱1, ₱5, ₱10, ₱20 Countries using this currency: Philippines Currencies pegged to PHP: None PHP is pegged to: None When was the PHP currency introduced? Although currency of varying types has been used in the Philippines for a long time, the Philippine peso dates back to 1898. It was introduced by the revolutionary government after independence was declared. This form of the peso stopped being produced after the Philippines became an American colony, but the name peso lived on. Is the Philippine peso pegged to USD? The Philippine peso is not pegged to USD. However, pesos were pegged to the US dollar during the period that the US was in control of the Philippines. When the Philippines became independent in 1946 the central bank tried to keep the currency pegged to the dollar, but a black market trading in dollars grew up. This led to devaluation of the peso over time. The decision to officially stop pegging the peso to USD was taken in 1993, and the currency has been free floating since 2003. Where can you exchange Philippine peso? You’ll be able to change your money to Philippine pesos at your bank, at a branch of a currency exchange service, online or even in a hotel or airport. However, it’s good to know that the exchange rates and fees on offer may vary wildly. Typically the exchange rates used in airport and hotel exchange desks do not offer great value, for example. Historical exchange rate The official exchange rate was ₱2 against the U.S. dollar from 1946–62, devalued to ₱3.90/$ in 1962, and devalued again to ₱6.43/$ in 1970. Black market exchange rates during these periods, however, were nearly always higher than official rates. Several depreciations followed, with the peso trading at ₱18/$ in 1984 from the dirty float at ₱11.25/$ in 1983 and ₱21/$ in 1986. In the early 1990s, the peso depreciated again to ₱28/$. Due to the 1997 Asian financial crisis, the peso depreciated from ₱26/$ in July 1997 to ₱42/$ in 1998 and to about ₱50/$ in 2001. Black market exchange rates as seen in the past are now nonexistent since official exchange rates now reflect underlying supply and demand rather than political considerations. Value of the Philippine Peso (As on 22/04/2022) 1 Philippine Peso = INR 1.46 (Indian Rupees) 1 Philippine Peso = PKR 3.59 (Pakistani Rupees) 1 Philippine Peso = BDT 1.66 (Bangladeshi Taka) 1 Philippine Peso = USD 0.019 (United States Dollar) 1 Philippine Peso = EURO 0.018 (Euro) You can watch the following video in YouTube in my channel "CURRENCY UNIVERSE" to know more about Philippines' Currency. Please note that the videos are in Hindi. PHILIPPINES CURRENCY - THE PESO Have any thoughts. Be sure to leave a comment below for any doubts or queries !!
9083	dbpedia	2	92	https://www.coursehero.com/file/91672044/REPORT-AEppt/	en				[]	[]	[]	[ "" ]	null	[]	null					null
9083	dbpedia	1	90	https://www.rappler.com/business/philippine-peso-us-dollar-exchange-rate-august-14-2023/	en	Bangko Sentral unfazed as peso weakens to near 9-month low	https://www.rappler.com/…13EE0DD30CD7.jpg	https://www.rappler.com/…13EE0DD30CD7.jpg	[ "https://www.rappler.com/tachyon/2022/07/dollars-pesos-20150812_86d897e98b2c4fe1b1321280586ce108_2BD6849AA025474090E413EE0DD30CD7.jpg", "https://www.rappler.com/tachyon/2023/08/IMG_3747.jpg?fit=1024%2C887", "https://www.rappler.com/tachyon/2023/08/IMG_3745.jpg?fit=1024%2C891", "https://www.rappler.com/uploads/2021/12/1588572376-ralf-rivas-author-photo-250x250.jpeg", "https://www.rappler.com/tachyon/2024/08/Making-sense-BSP-rate-cut-4-years-August-16-2024.jpg?resize=257%2C257&crop=183px%2C0px%2C720px%2C720px", "https://www.rappler.com/tachyon/2023/02/agora-public-market-san-juan-price-check-february-21-2023-002.jpg?resize=257%2C257&crop=667px%2C0px%2C1333px%2C1333px", "https://www.rappler.com/tachyon/2024/08/thought-leaders-how-i-envy-thais-08102024-2.jpg?resize=257%2C257&crop=418px%2C0px%2C1080px%2C1080px", "https://www.rappler.com/tachyon/2023/12/noche-buena-christmas-shopping-december-23-2023-001-scaled.jpg?resize=257%2C257&crop=798px%2C0px%2C1707px%2C1707px", "https://www.rappler.com/tachyon/2023/11/2560px-Bonifacio_Global_City_-_skyline_view_from_Pioneer_Taguig_and_Makati2018-04-24_cropped.jpg?resize=257%2C257&crop=491px%2C0px%2C971px%2C971px" ]	[]	[]	[ "" ]	null	[ "Ralf Rivas" ]	2023-08-14T10:45:03+00:00	The peso almost touches the P57 level on Monday, August 14. Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. says the country has sufficient forex buffers to stabilize the currency.	en	https://www.rappler.com/….png?fit=32%2C32	RAPPLER	https://www.rappler.com/business/philippine-peso-us-dollar-exchange-rate-august-14-2023/	MANILA, Philippines – The Philippine peso weakened to a near nine-month low, almost touching the P57 level against the US dollar on Monday, August 14, amid headwinds such as higher global oil prices and interest rates. This is the eighth straight day that the peso has depreciated, falling to as low as P56.99 before closing at P56.78 against the dollar. The last time the local currency saw this weakness was on November 23, 2022, when it closed at P56.94. Volume declined by 1.5% to $1.4 billion on Monday from $1.43 billion last Friday, August 11. Rizal Commercial Banking Corporation chief economist Michael Ricafort said the movement occurred after global crude oil prices hovered at around the highest in nine months, indicating further uptick in prices of other goods on top of a larger import bill and a wider trade deficit. Ricafort also noted that global rice prices have reached 15-year highs, which may lead to a pickup in overall inflation. (READ: [ANALYSIS] Yet another massive rice crisis) The 10-year United States Treasury yield has also gone up to a nine-month high of 4.16%, placing pressure on borrowing costs of some local companies and increasing the attractiveness of the US currency. The peso is also slightly weaker after the Philippine Stock Exchange index declined for the third consecutive trading day, closing at 6,329, a nine-month low since November 15, 2022. ‘In the middle’ In an economic briefing in Laoag City, Ilocos Norte, on Monday, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said the peso’s decline of 0.86% year-to-date is “somewhere in the middle.” “Compared to our neighbors, the peso has weakened only slightly,” he said. The Japanese yen has posted the sharpest decline, falling 8.35% so far this year, followed by the New Zealand dollar (4.52%), Chinese yuan (4.35%), South Korean won (4.24%), Australian dollar (4.23%), Malaysian ringgit (3.77%), Taiwanese dollar (3.37%), Thai baht (1.09%), and then the Philippine peso. After the peso are the Singaporean dollar (0.42%), Vietnamese dong (0.40%), and Indian rupee (0.07%). The depreciation of the peso against the greenback was also due to the US Federal Reserve’s decision to raise key policy rates by another 25 basis points and Fitch Ratings’ move to downgrade the credit rating of the US to AA+ from AAA. Remolona added that the Philippines has ample foreign exchange buffers to stabilize the local currency. Remittances from overseas Filipino workers and foreign direct investments will build up the country’s reserves, according to the central bank chief.
9083	dbpedia	0	33	https://www.bloomberg.com/quote/USDPHP:CUR	en	USD to PHP Exchange Rate	https://www.bloomberg.co…avicon-black.png	https://www.bloomberg.co…avicon-black.png	[]	[]	[]	[ "US DOLLAR", "USD", "PHILIPPINES PESO", "PHP", "conversion chart", "US DOLLAR exchange rate", "PHILIPPINES PESO exchange rate", "US DOLLAR", "USD", "US DOLLAR buying", "USD buying", "US DOLLAR selling", "USD selling", "US DOLLAR asking price", "USD asking price", "PHILIPPINES PESO", "PHP", "PHILIPPINES PESO buying", "PHP buying", "PHILIPPINES PESO selling", "PHP selling", "PHILIPPINES PESO asking price", "PHP asking price" ]	null	[]	2024-08-19T03:59:00	Current exchange rate US DOLLAR (USD) to PHILIPPINES PESO (PHP) including currency converter, buying & selling rate and historical conversion chart.		https://www.bloomberg.co…avicon-black.png	Bloomberg.com	https://www.bloomberg.com/quote/USDPHP:CUR	Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
9083	dbpedia	1	86	https://currencyaffairs.org/document/the-philippines-new-generation-currency-coin-series/	en	The Philippines’ New Generation Currency Coin Series	https://currencyaffairs.…x512-1-32x32.png	https://currencyaffairs.…x512-1-32x32.png	[ "https://currencyaffairs.org/wp-content/uploads/2023/12/IACA-web-banner-20years.svg", "https://currencyaffairs.org/wp-content/uploads/2022/08/IACA-Logo-Globe.svg", "https://currencyaffairs.org/wp-content/uploads/2022/09/bsp-all-coins-obverse.jpg", "https://currencyaffairs.org/wp-content/uploads/2022/08/IACA-Logo-Globe.svg", "https://moderate4-v4.cleantalk.org/pixel/8d256be2c9a8b31431b0bf7a682dd410.gif" ]	[ "https://www.youtube.com/embed/pa4tLOmIBWQ?feature=oembed" ]	[]	[ "" ]	null	[ "sbaxter@currencyaffairs.org" ]	2022-09-16T10:54:53+00:00	Project owner: Bangko Sentral ng Pilipinas Describe the project nominated On 26 March 2018, the BSP released into circulation the New Generation Currency (NGC) Coin Series comprised of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo and 1-Sentimo. The NGC Coin Series features enhanced design aesthetics and security of the coins. In particular, micro-printed details using laser-engraving	en	https://currencyaffairs.…x512-1-32x32.png	International Association of Currency Affairs -	https://currencyaffairs.org/document/the-philippines-new-generation-currency-coin-series/	On 26 March 2018, the BSP released into circulation the New Generation Currency (NGC) Coin Series comprised of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo and 1-Sentimo. The NGC Coin Series features enhanced design aesthetics and security of the coins. In particular, micro-printed details using laser-engraving technology were included in the two highest denominated coins, the 10-Piso and 5-Piso, which makes it difficult for these coins to be duplicated using traditional coin counterfeiting methods. The metallic composition of the NGC coins also discourages the illegal practice of hoarding large quantities of coins for the extraction of their metal content. The coins, which appear as “metallic silver”, are made from durable nickel-plated steel that possess very good wear and corrosion resistance. The change in material addresses concerns on discoloration predominantly observed for copper-based metals. Coins in the NGC Series feature the new BSP logo, three national heroes (Apolinario Mabini in the 10-Piso, Andres Bonifacio in the 5-Piso and Jose Rizal in the 1-Piso), a stylized Philippine flag in the 25-, 5- and 1-Sentimo, and Philippine endemic flora. Innovation of the design Uniqueness
9083	dbpedia	3	70	https://spanishandgo.com/travel/all-about-mexican-pesos/	en	Getting Used to Mexican Money — Spanish and Go	https://spanishandgo.com…ey-thumbnail.jpg	https://spanishandgo.com…ey-thumbnail.jpg	[ "https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1.webp 200w, https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1-150x150.webp 150w, https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1-100x100.webp 100w", "https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1.webp", "https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1.webp 200w, https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1-150x150.webp 150w, https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1-100x100.webp 100w", "https://spanishandgo.com/wp-content/uploads/2023/09/Logo-1.webp", "https://spanishandgo.com/wp-content/uploads/2023/05/mexican-money-thumbnail.jpg 1000w, https://spanishandgo.com/wp-content/uploads/2023/05/mexican-money-thumbnail-600x338.jpg 600w, 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Go	https://spanishandgo.com/travel/all-about-mexican-pesos/	Spanish and Go and CardRatings may receive a commission from card issuers. Spanish and Go and CardRatings may receive a commission from card issuers. Some of the credit card offers that appear on this website are from advertisers, and compensation may impact how or where the card products appear. This site does not include all card companies or all available card offers. Before you visit Mexico, it’s helpful to familiarize yourself with the currency you’re going to be using on your trip. In this article, we’re going to show you how to get and convert Mexican pesos from U.S. dollars as well as some interesting facts about the almighty peso. What is a Peso? The peso is a unit of currency in a number of countries and is the official currency of Mexico. A peso in terms of Mexican currency is a Mexican peso (sign: $; code: MXN) or peso méxicano in Spanish. One peso is the equivalent of one-hundred centavos (100¢ MXN). Modern currencies that used the “peso” have a common origin in the Spanish dollar from the 15th-19th centuries. If you’ve ever wondered why pesos use the same symbol as the dollar, it’s because they share a common history. Peso in Spanish literally means “weight,” and originally referred to the Spanish real de a ocho, or “royal eight-real coin.” In the 19th century, the Mexican peso was equal to 8 reales. The term “peso” in this context used to refer to pesos oro (gold weights / gold peso) or pesos plata (silver weights / silver peso). The gold content of the peso has varied over time. In 1821, the peso contained 2.48 grams of gold, but by 1873 it only contained 1.92 grams of gold. The gold content of the peso increased again in 1900, when it was fixed at 2.5 grams of gold. (This was the same gold content as the earlier Spanish real de a ocho). Since 1900, the gold content of the peso has remained fixed at 2.5 grams. These days, pesos in circulation contain no gold or silver. Like the U.S., who stopped producing gold coins in 1933, and silver coins in 1965, Mexico stopped using precious metals in their coins shortly after in 1967. Mexican Peso Symbol and Abbreviations One common way to distinguish whether the “$” symbol refers to dollars or pesos is with the addition of MX before the “dollar” or “$” sign. An alternative to this convention is by adding the “MN” after the the value is written, e.g. $100 MN. The MN stands for Moneda Nacional, which means “National Currency.” If you’re searching for real estate, you may see “mdp” after the value. This refers to millions of pesos. For example, 3.2 mdp means 3.2 milliones de pesos or 3.2 million pesos. MXN is the official ISO currency code for Mexican pesos. For comparison, the U.S. dollar’s ISO code is USD and the Canadian dollar is CAD. You can find all of the ISO currency codes here. How to Get Mexican Pesos There are a few different ways to get Mexican Pesos. The most common are: You can exchange currency at most banks before you depart. You can buy pesos from a currency exchange. You can withdraw pesos from an ATM when you arrive. When traveling to Mexico, it’s a good idea to have some pesos on hand on arrival to cover expenses like taxis, tips, and souvenirs. Here are some of the most popular ways to get pesos. Exchange Money at the Bank Your first option for exchanging for pesos is at certain banks. They usually have an exchange service, and you can use that prior to your trip. Most banks have pesos on hand so you can just go to the bank and get some pesos and you’ll be ready to go to Mexico. Smaller banks, however, might take time to order some in so make sure you go in advance in case your bank needs to order them for you. All major banks offer a currency exchange service. These include: Bank of America Wells Fargo Citibank Chase U.S. Bank Many international banks also offer this service in the U.S., such as Barclays and UBS. It’s important to research the fees associated with each bank so you can get the best rate possible when exchanging your money. You should also check the hours and locations that the bank offers its services in order to make sure they are convenient for you. Order delivery times can vary, but most major banks typically advertise a 2-7 business days. Visit Currency Kiosks Another way to get pesos is at the currency exchange kiosks that you can find at most airports. These can be at your departure airport or on arrival in Mexico. You can also find them in most large cities (especially if the city is a popular tourist destination). Just keep in mind that these kiosks usually have a fee (either an extra fee or one built into the exchange rate) so they aren’t the best option if you’re on a budget. Airport kiosks are notorious for this. Use ATMs Another easy way to convert your money for pesos is at ATMs. This is our preferred way of getting pesos when we are in Mexico. We get better rates when we use the ATM instead of going to the bank or exchanging money at the kiosks. Just avoid the ATMs at the airport whenever possible. Like the kiosks, the rates you get will be poor. Use Wise to Convert Dollars to Pesos Our favorite service for international money conversion is Wise. Wise is a money transfer service that allows users to send and receive money in over 40 different currencies. One of the supported currencies is Mexican Pesos (MXN). To convert dollars to pesos using Wise, simply create a free account and enter the amount of USD you want to convert. The exchange rate will be displayed, and you can complete the transaction by entering your bank account information. This is one of our favorite ways of converting USD to MXN because of the ability to lock in the best currency exchange rate and make online payments to locals while we’re traveling. This makes paying our local vendors for our Spanish Immersion Retreats a breeze. Wise even offers a debit card that will give you two free ATM withdrawals each month. The Cheapest Ways to Get Pesos If you’re from the U.S, the cheapest way to pay in Mexican pesos is to not handle them at all! Paying with a travel credit card will almost always give you the best rate with no additional fees because U.S. travel cards generally don’t charge foreign transaction fees. Popular travel credit cards that offer no foreign exchange fees include: Unfortunately, if you’re from outside the U.S., most credit card companies don’t offer a no foreign transaction fee benefit. If you need to get your hands on actual pesos, withdrawing from an ATM using a debit card that refunds your ATM fees is your best option. Since most banks charge $3-5 USD per withdrawal, you can save a ton of money over the course of your travels by using the right debit card. This is actually what we recommend for most countries as outlined in our Ultimate Guide to Travel Banking. How to Send Money to Mexico If you’re trying to send money to a friend, family, or loved one in Mexico, one of your best options is with Wise. This can even be a good option if you’re trying to send money from your U.S. bank account to an account you have in Mexico while living abroad. Wise has the lowest fees around, whether you need to transfer $10 or $10,000 USD. Their rates are generally better than PayPal too, which is why they are our go-to option. However, if you’re moving money to purchase real estate, keep in mind that the limit Mexican accounts can receive using this method is $1,976,693.5 MXN (roughly $94,900 USD). How do you say ATM in Spanish? An ATM is called a cajero automatico in Spanish. Sometimes this is shortened to cajero when enough context is given to specify that you are asking about an ATM. Cajero actually means “cashier,” so when you say cajero automatico, you’re literally saying “automatic cashier.” If you want to ask where you can find an ATM in Spanish, you can say, “¿Dónde está el cajero automático?” – “Where is the ATM?” Alternatively, you can ask “¿Hay un cajero automático cerca de aquí?” – “Is there an ATM close to here?” Need more help with directions? Learn more in our article and video about how to ask for directions in Spanish. How to Exchange Pesos for Dollars At the end of your visit to Mexico, you might find yourself with some spare pesos that you’d like to convert back into U.S. dollars. We’ve already shown you the cheapest way to get pesos, but how can you exchange them back for dollars? Here’s what you can do with leftover foreign currency. The cheapest way to convert your extra pesos back into dollars is by bringing them back to the United States. As mentioned previously, banks usually have the best conversion rates, and several larger banks (such as Wells Fargo) are happy to help reconvert your money for you. With banks, you’ll get a far better rate than anything you’ll find in Mexico in terms of exchange kiosks. The mark-up is almost always built into the conversion rate. Always beware of exchanges that claim to do it for “no fee.” But if you don’t want to go through the extra hassle of converting your pesos, holding on to them until your next trip isn’t a bad idea either. Especially if you plan to be back in less than a year or two. We tend to hold on to some pesos in between trips just so that we have cash as soon as we get back into Mexico. It’s nice to not have to look for an ATM right away and have enough money for a few tacos when we land. How to Convert US Dollars (USD) and Mexican Pesos (MXN) in Your Head Once you have your hands on some pesos it’s helpful to know how much you’ll be spending with this easy formula. Right now in 2022, one U.S. dollar equals about 20 pesos. The daily conversion may vary slightly, but 20 pesos to the dollar makes it really easy to convert. If you’re going to buy something that’s 500 pesos, all you need to do is: Move the decimal point over one digit to the left — which will leave you with 50. Cut that in half. That’s how much it is going to be in U.S. dollars. So, half of fifty is twenty-five dollars. Technically, 500 MXN = 25.86 USD (at the time of writing), so a rough calculation of $25 is pretty accurate. If you have 50 U.S. dollars and you want to convert that to pesos, all you need to do is move the decimal point over the other way and double it. So, 50 dollars means adding a zero at the end, giving you 500. Double that and you’re looking at about a thousand pesos. $50 USD = 965 MXN, so, again, that’s a pretty accurate quick calculation you can do when you’re out and about. Mexican Peso Currency Denominations The current Mexican coins in existence are 5, 10, 20, and 50 cents, as well as 1, 2, 5, 10, and 20 pesos. The current Mexican bills in existence are 20, 50, 100, 200, 500, and 1,000 pesos. Yes, there is a 20 pesos coin and a 20 pesos bill. The bill is much more common. The 1,000 Pesos Bill You probably won’t get to see this bill when you’re here in Mexico because it’s not very common, but it is real. However, if you happen to come into possession of one, know that most small stores will not have change for it. (As mentioned above, 1,000 MXN is roughly $50 USD). Mexican Coin Values We covered how to convert pesos in your head above, but if you’re still stuck, it might help you think about it in another way. In the USA, we have dollars and cents, and in Mexico, there are pesos and centavos (cents). Just as 100 cents make up a dollar in US currency, 100 cents make up one peso in Mexican currency. To keep things simple, let’s say 20 Mexican pesos is roughly equal to one U.S. dollar. Then the Mexican coins you’ll encounter are worth: 5 centavos ($0.05 MXN) = $0.002 USD 10 centavos ($0.10 MXN) = $0.005 USD 20 centavos ($0.20 MXN) = $0.01 USD 50 centavos ($0.50 MXN) = $0.02 USD) As mentioned in the denominations section above, Mexico also has several peso coins. Remember, each whole peso is worth 100 centavos. That means these peso coins are worth roughly the following: 1 peso ($1.00 MXN) = $0.05 USD 2 pesos ($2.00 MXN) = $0.10 USD 5 pesos ($5.00 MXN) = $0.25 USD 10 pesos ($10.00 MXN) = $0.50 USD 20 pesos ($20.00 MXN) = $1.00 USD Bear in mind, these values are using a conversation rate of $1 USD = $20 MXN to illustrate the rough value of pesos to dollars. This works well for estimating the cost of small items. However, the actual exchange rate varies daily. Inflation in Mexico Like the U.S., inflation in Mexico has been relatively high in recent years. Consumer prices rose by an average of 8.4% in 2022, according to the country’s National Institute of Statistics and Geography (INEGI). This was the highest inflation rate since 2008, when prices rose by 7.3%. The main drivers of inflation in Mexico are rising food and energy prices. Food prices have been rising due to a combination of bad weather and increased demand from China. Energy prices have also been rising due to higher global oil prices. While some of these factors are beyond the control of the Mexican government, it has taken steps to try and keep inflation under control. These include raising interest rates and increasing government spending on social programs. So far, these measures have helped to some degree. However, if food and energy prices continue to rise, it could put upward pressure on inflation and cause it to rise again in the future. The Mexican Peso has been a relatively stable currency compared to other Latin American countries. This is due to a number of factors, including Mexico’s strong economic ties with the United States, and the Mexican government’s commitment to maintaining a stable peso. In recent years, the peso has been fairly stable against the U.S. Dollar, and has even appreciated somewhat. This has helped to insulate Mexico from some of the economic turmoil experienced by other Latin American countries. The Value of Old Mexican Pesos Before MXN, there was MXP – the original Mexican Peso. This currency ISO was phased out to make using money in Mexico more manageable. Old Mexican Pesos (MXP) are obsolete. The standard currency you see today in Mexico is what is referred to as the Nuevo Peso or “New Peso” (hence the “N” in “MXN”). This transition from the old peso officially took place on January 1, 1993. Essentially, the new peso erased three zeros off the old peso to clean up the effect of years of inflation. 1,000 MXP is the equivalent of 1 MXN. That’s roughly $0.05 USD at current rates. It’s not uncommon for people who have been traveling to Mexico for decades to still be in possession of some old pesos, not realizing that their value is actually much less than what it appears on the bill when factoring in the transition to the new peso. The old peso bills and coins are no longer accepted as cash within the general population, however, they still can be cashed in for the modern value equivalent in new pesos at the Bank of Mexico. How much are old pesos worth exactly? While some collectors might place a higher value on rare or misprinted coins and bills, the value of most old pesos can be figured out quite easily on your own. Simply follow these three steps to convert old Mexican pesos (MXP) to new Mexican pesos (MXN) and then into US dollars (USD). Tally up the total of the bills and coins you have Move the total three decimal places to the left Enter the result in the MXN field here or by using the currency converter above Alternatively, you can see the conversion for each of the old Mexican peso bills directly from the Bank of Mexico here. Is $100 USD a lot of money in Mexico? A popular question for people interested in visiting Mexico is how far $100 USD goes there. This is a difficult question to answer as it involves many factors such as where you plan to visit and what your standard of living is. But we’ll give you an idea of what you can expect for pricing in general in Mexico. The overall cost of living in Mexico is roughly half that of the United States, so a quick “back of the envelope” calculation for what most things will cost there can be done by taking the price of a similar public utility or living expense in the U.S. (not including electronics) and dividing by two. Obviously, this guesstimation will be different depending on where you plan to visit. Colima, for example, is generally cheaper than Quintana Roo in the same way that Cincinnati is cheaper than New York City. The average inexpensive meal at a restaurant in Mexico costs roughly $100 pesos (~$4.73 USD), domestic beer is around $30 pesos (~$1.42 USD), and bottled water costs $11.52 pesos (~$0.54 USD). The cost of other typical expenses in Mexico can be found and compared here. As of Jan 1, 2023, Mexico’s minimum wage was raised to $172.87 pesos per day. That means a Mexican working minimum wage would have to work at least 12 days to make the equivalent of $100 US Dollars. So, in short, $100 USD is a fair amount of money in Mexico, generally speaking. Getting Change in Mexico One culture shock for many who visit Mexico for the first time is how difficult it can be to find a store or vendor who has change for larger bills. Oftentimes, 200 peso bills and larger will cause more trouble than they’re worth when purchasing cheaper items. You’ll find that ten-peso coins are often more valuable than they look as it’s much easier to get change for purchases using smaller denominations. This does not mean that larger bills are useless. Just keep in mind that if you’re making a purchase that requires getting fifty to one hundred or more pesos back in change to try to use the smallest denominations you can to help assure that you’re able to make the transaction. Often, if you do not have the correct change or close to it, a vendor may ask you to wait a moment while they run next door to see if a neighboring establishment can break a larger bill. Tips for Spotting Counterfeit Mexican Banknotes Spotting counterfeit Mexican banknotes can be tricky, but there are a few tips that can help. First, look closely at the note and make sure all of the details are correct. Check for any discrepancies in the design, such as a missing or incorrect security feature. Additionally, check to see if all of the colors on the note match up correctly and if there are any inconsistencies in the paper itself. Take special care when examining the serial numbers, as each genuine Mexican banknote should have its own unique number. Another tip is to hold the note up to a light source and look for any watermark images that might be present. Finally, observe carefully how it feels in your hand; genuine notes should feel crisp and new while counterfeits often feel slightly rough or worn. By following these simple tips you can easily recognize counterfeit Mexican banknotes. In our experience, counterfeit currency in Mexico is rare. However, that doesn’t mean you’ll never come across a counterfeit bill, so you should always be cautious. Features for the Visually Impaired Mexican banknotes feature a number of elements to help those with impaired vision identify their bills. These features include raised numbers and letters on each bill, as well as a tactile feature in the shape of an owl’s head on the 500 peso note. The raised numbers and letters help those with impaired vision to distinguish between different denominations. The tactile feature, which is in the shape of an owl’s head, helps users to locate the denomination without needing to look at it. Banknotes also feature larger fonts, making them easier to read for those with low vision or other disabilities. Additionally, a special ink has been used that makes it easier for people with impaired vision to recognize color differences between denominations. Also, each denomination is a different length, making telling the difference between bills much easier. All these features make it much easier for visually impaired individuals to be independent when handling money. Tipping with Pesos in Mexico Ever wonder whether you should tip in pesos or dollars? While many touristy cities in Mexico often have restaurants that accept payment in U.S. dollars, it’s usually a bad idea to pay in anything other than the local currency. This is because in Mexico, many establishments that accept dollars are adding a significant markup to the currency exchange rate – often 10% or more. By tipping in foreign currency in Mexico, you’ll pay more and pass on the burden of exchanging money to the locals. Accepting foreign currency is generally less than ideal for the locals because most places in Mexico only accept Mexican pesos as payment. This means that whoever you’re tipping will have to spend their time finding a place to convert your tip into a local currency where they’ll likely not be getting a great conversation rate either. Time is money, and currency conversion kiosks are usually a rip-off. In our opinion, it’s best to tip in pesos. How much should you tip? We answer that in our ultimate guide to tipping in Mexico. But the standard for restaurants and tours is generally 10-15%. What Colors are Mexican Peso Bills? The Mexican Banknotes are colorful and attractive. They contain the colors green, blue, red and brown. The colors have a special meaning: green represents hope and freedom; blue represents union and justice; red represents the blood of national heroes; and brown represents the richness of Mexican soil. The colors also represent the five regions of Mexico: Central Mexico, Baja California, Yucatán Peninsula, Gulf Coast and Pacific Coast. All of these colors come together to create a vibrant design that is both beautiful and meaningful to Mexicans. Additionally, each note has an intricate design that illustrates some aspect of Mexican culture or history. These designs are often inspired by archeological sites, landscapes or cultural symbols such as eagles or cacti. In this way, each banknote serves as a miniature piece of art with both aesthetic value and symbolic significance. Who’s on Mexican Peso Banknotes? As with the U.S. dollars, Mexican banknotes portray the image of important people from the country’s history. In the case of Mexican pesos, the people on the bills are famous luminaries who lived before, during, and after the Spanish conquest. Who’s on the 1,000 Pesos Bill? The newest version of the 1,000 pesos bill features former Mexican president Francisco I. Madero, Hermila Galindo, and Carmen Serdán. Madero was a Mexican writer, businessman, revolutionary, and statesman, who became the 37th president of Mexico in 1911. Galindo was Mexico’s first congress delegate, and Serdán was a Mexican revolutionary. The previous version of the 1,000 pesos bill pictured Miguel Hidalgo, a Mexican national hero who was the leader of the Mexican War of Independence. Who’s on the 500 Pesos Bill? The newest version of the 500 pesos banknote features Benito Juárez, former Mexican president who served from 1858 until his death in 1872. He was the first Mexican president who was of indigenous origin. The previous version of the 500 pesos bill showed Diego Rivera, a Mexican muralist, and his wife Frida Kahlo, a renowned Mexican artist. Diego Rivera was born in one of our favorite cities in Mexico. Be sure to check out his museum, located at the house he grew up in, if you visit. Or, join us for a Spanish immersion retreat in Guanajuato to see it on a trip with us! DIEGO RIVERA WAS BORN IN ONE OF OUR FAVORITE CITIES IN MEXICO. BE SURE TO CHECK OUT HIS MUSEUM, LOCATED AT THE HOUSE HE GREW UP IF YOU VISIT. OR, JOIN US FOR A SPANISH IMMERSION RETREAT IN GUANAJUATO TO SEE IT ON A TRIP WITH US! Who’s on the 200 Pesos Bill? The 200 pesos bill pictures Miguel Hidalgo and José María Morelos y Pavón, who were both leaders and revolutionaries who fought for Mexico’s independence from Spain. Miguel Hidalgo is also known as the Padre de la Patria, or “Father of Homeland.” Who’s on the 100 Pesos Bill? The current version of the 100 pesos bill features Sor Juana Inés de la Cruz, famous Mexican poet and writer. The previous version of the 100 pesos bill shows Nezahualcóyotl, a philosopher, architect, poet, warrior, and ruler (tlatoani) of the city-state of Texcoco in pre-Columbian era Mexico. Who’s on the 50 Pesos Bill? The current version of the 50 pesos bill features an emblem representing the foundation of Tenochtitlan, where modern day Mexico City was founded. The depiction of an eagle perched on a cactus eating a snake can also be found prominently displayed as the emblem at the center of the Mexican flag. 🇲🇽 The previous version of the 50 pesos bill featured José María Morelos, Mexican Roman Catholic priest and revolutionary in Mexico’s War of Independence movement. Who’s on the 20 Pesos Bill? The current version of the 20 pesos bill features la entrada del Ejército Trigarante a la Ciudad de México (the entrance of the Tigarante Military into Mexico City) which consummated Mexico’s Independence. The battalion leader at that time was Agustín de Iturbide, who is depicted prominently in front of the crowd on this bill. The previous 20 pesos bill showcases former Mexican president Benito Juárez. He is currently featured on the new 500 pesos bill as well. How Can You Easily Tell Pesos Apart? All denominations of Mexican currency vary in color, texture, and size, in an effort to deter counterfeiting and to assist the blind. The four largest bills are not only the longest but are also made out of a different material than the 50- and 20-peso bills. The larger bills are made from paper while the 100, 50, and 20 are plastic. Historic Facts About Pesos The Mexican peso is the eighth most traded currency in the world, the third most traded currency all over America (after the U.S. and the Canadian dollar), and the most traded in Latin America. It was the first in the world to use the dollar sign — even before the U.S. dollar. You can learn more about the history of the peso in our article Three Interesting Facts About Mexico You Probably Didn’t Know. Final Thoughts Learning about the money you’re using when you’re visiting a new country is a great way to gain insight into the history and culture of the place. We hope this article helped you get acquainted with Mexican pesos. For more information on traveling to Mexico, check out these posts: You might also be interested in: What to Wear in Mexico Why Are Sugar Skulls Used for Day of the Dead? 7 Best Tips for Renting a Car Abroad (Budget Travel in Mexico and Beyond) Is Mexico Safe? [The Best Tips for Staying Safe in Mexico] Spanish and Go has partnered with CardRatings for our coverage of credit card products. Some of the credit card offers that appear on this website are from advertisers, and compensation may impact how or where the card products appear. Spanish and Go and CardRatings may receive a commission from card issuers for these offers. Responses to these offers are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. Opinions, reviews, analyses & recommendations on this website are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. This site does not include all card companies or all available card offers.
9083	dbpedia	2	84	https://www.ledgerinsights.com/regulated-crypto-firm-coins-ph-debuts-philippines-stablecoin-in-sandbox/	en	Regulated crypto firm Coins.ph debuts Philippines stablecoin in sandbox	https://www.ledgerinsigh…blecoin-phpc.jpg	https://www.ledgerinsigh…blecoin-phpc.jpg	[ "https://ledgerinsights.com/wp-content/uploads/2018/01/LI-notagline2-1.png", "https://ledgerinsights.com/wp-content/uploads/2018/01/LI-notagline2-1.png", "https://www.ledgerinsights.com/wp-content/uploads/2024/05/philippines-stablecoin-phpc-810x524.jpg", "https://www.ledgerinsights.com/wp-content/uploads/2024/08/moodyselliptic-digital-assets-analytics-145x100.jpg", "https://www.ledgerinsights.com/wp-content/uploads/2024/06/digital-euro-cbdc-currency.26e-145x100.jpg", "https://www.ledgerinsights.com/wp-content/uploads/2023/11/cryptocurrency-aml-anti-money-laundering.2-145x100.jpg", "https://www.ledgerinsights.com/wp-content/uploads/2024/08/blockchain-privacy-security-145x100.jpg", "https://www.ledgerinsights.com/wp-content/uploads/2024/08/parfin-blockchain-145x100.jpg", "https://www.ledgerinsights.com/wp-content/plugins/webtoffee-gdpr-cookie-consent/public/images/logo-cookieyes.svg" ]	[]	[]	[ "" ]	null	[ "Ledger Insights" ]	2024-05-14T10:58:03+00:00	Coins.ph is trialing a Philippine Peso stablecoin PHPC in a regulatory sandbox. Cross border remittances are the most likely use case	en		Ledger Insights - blockchain for enterprise	https://www.ledgerinsights.com/regulated-crypto-firm-coins-ph-debuts-philippines-stablecoin-in-sandbox/	Last week Coins.ph said it had started testing its a Philippine Peso stablecoin, PHPC, as part of a Bangko Sentral ng Pilipinas (BSP) sandbox. It commenced testing the stablecoin in April which will likely continue until June. At that point, it’s hoping to open it up for broader usage, but that will be subject to the central bank’s assessment. The stablecoin is backed by cash and cash equivalents held at Philippine banks. It says the trials will involve ‘real world applications’. Given the 12 million or so Filipino diaspora, cross border remittances are the most obvious one. It will also target domestic payments, although this competes with the 24/7 faster payment system InstaPay, which has a transaction limit equivalent to $865. Most other use cases are crypto focused, such as trading, hedging when there’s market volatility and using the stablecoin as collateral for DeFi applications. “While PHPC presents a variety of potential applications in trading and payments, we anticipate remittances to be a foremost use case for Filipinos, as PHPC will not only reduce costs; it also means that now peso transactions can happen 24/7 and in real time,” said CEO Wei Zhou, according to GMA News. Coins.ph is already active in remittances. In 2019 it inked a deal with Western Union that enabled offshore workers to optionally remit payments directly to the Coins.ph wallet. With 7 million active users of its wallet, Coins.ph already holds licenses as an e-money firm and a virtual currency service provider in the Philippines. More recently it has acquired licenses in several other jurisdictions.
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For the scripting language, see PHP. For other uses, see PHP (disambiguation). Philippine pesoPiso ng Pilipinas (Filipino) ISO 4217CodePHP (numeric: 608)Subunit 0.01UnitSymbol₱‎DenominationsSubunit 1⁄100sentimo (or centavo)Banknotes Freq. used₱20, ₱50, ₱100, ₱200, ₱500, ₱1000Coins Freq. used₱1, ₱5, ₱10, ₱20 Rarely used1¢, 5¢, 25¢DemographicsUser(s)PhilippinesIssuanceCentral bankBangko Sentral ng Pilipinas Websitewww .bsp .gov .phPrinterThe Security Plant ComplexMintThe Security Plant ComplexValuationInflation3.8%[1] SourcePhilippine Statistics Authority, April 2024 MethodCPI The Philippine peso, also referred to by its Filipino name piso (Philippine English: PEH-saw, PEE-, plural pesos; Filipino: piso [ˈpiso, pɪˈso]; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos. The peso has the symbol "₱", introduced during American rule in place of the original peso sign "$" used throughout Spanish America.[2] Alternative symbols used are "PHP", "PhP", "Php", or just "P". The monetary policy of the Philippines is conducted by the Bangko Sentral ng Pilipinas (BSP), established on July 3, 1993, as its central bank. It produces the country's banknotes and coins at its Security Plant Complex, which is set to move to New Clark City in Capas, Tarlac.[3][4] History [edit] Main article: History of Philippine money 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] Pre-colonial coinage [edit] The trade the pre-colonial tribes of what is now the Philippines did among themselves with its many types of pre-Hispanic kingdoms (kedatuans, rajahnates, wangdoms, lakanates and sultanates) and with traders from the neighboring islands was conducted through barter. The inconvenience of barter, however, later led to the use of some objects as a medium of exchange. Gold, which was plentiful in many parts of the islands, invariably found its way into these objects that included the Piloncitos, small bead-like gold bits considered by the local numismatists as the earliest coin of the ancient peoples of the Philippines, and gold barter rings.[8] The original silver currency unit was the rupya or rupiah, brought over by trade with India and Indonesia. Two native Tagalog words for money which survive today in Filipino were salapi and possibly pera. Salapi is thought to be from isa (one) + rupya which would become lapia when adapted to Tagalog. Alternately, it could be from Arabic asrafi (a gold coin, see Persian ashrafi) or sarf (money, money exchange). Pera is thought to be from Malay perak (silver), which also has a direct cognate or adaptation in Tagalog/Filipino as pilak. Alternately, it could be from 10 and 5 céntimo coins of the Spanish peseta, known as the perra gorda and perra chica. Spanish colonial period [edit] 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 López 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] The earliest silver coins brought in by the Manila galleons from Mexico and other Spanish American colonies were in the form of roughly-cut cobs or macuquinas. These coins usually bore a cross on one side and the Spanish royal coat-of-arms on the other. These crudely-made coins were subsequently replaced by machine-minted coins called Columnarios (pillar dollars) or "dos mundos (two worlds)" in 1732 containing 27.07 grams of 0.917 fine silver (revised to 0.903 fine in 1771).[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. A currency system derived from coins imported from Spain, China and neighboring countries was fraught with various difficulties. Money came in different coinages, and fractional currency in addition to the real and the cuarto also existed. Money has nearly always been scarce in Manila, and when it was abundant it was shipped to the provinces[6] or exported abroad to pay for exports.[9][10] An 1857 decree requiring the keeping of accounts in pesos and céntimos (worth 1⁄100of a peso) was of little help to the situation given the existence of copper cuartos worth 1⁄160 of a peso.[6] 19th century Gold/Silver Bimetallic standard [edit] The Spanish gold onza (or 8-escudo coin) was of identical weight to the Spanish dollar but was officially valued at 16 silver pesos, thus putting the peso on a bimetallic standard, worth either the silver Mexican peso (27.07 g 0.903 fine, or 0.786 troy ounce XAG) or 1⁄16 the gold onza (1.6915 g 0.875 fine, or 0.0476 troy ounce XAU), with a gold–silver ratio of 16. Its divergence with the value of gold in international trade featured prominently in the continued monetary crises of the 19th century. In the 1850s the low price of gold in the international markets triggered the outflow of silver coins. In 1875 the adoption of the gold standard in Europe triggered a rise in the international price of gold and the replacement of gold coins with silver Mexican pesos. 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-céntimo coins until the 1890s, these coins were continuously smuggled in connivance with Customs officials due to their higher fiat value in the Philippines. After 1898 the United States colonial administration repealed this "fictitious gold standard" in favor of the unlimited importation of Mexican pesos, and the Philippine peso became a silver standard currency with its value dropping to half a gold peso. Concurrent with these events is the establishment of the Casa de Moneda de Manila in the Philippines in 1857, the mintage starting 1861 of gold 1, 2 and 4 peso coins according to Spanish standards (the 4-peso coin being 6.766 grams of 0.875 gold), and the mintage starting 1864 of fractional 50-, 20- and 10-céntimo silver coins also according to Spanish standards (with 100 céntimos containing 25.96 grams of 0.900 silver; later lowered to 0.835 silver in 1881). In 1897 Spain introduced 1-peso silver coins with the bust of King Alfonso XIII, as well as 5- and 10-céntimo de peseta coins for circulation in the Philippines as 1- and 2-céntimo de peso coins. The Spanish-Filipino peso remained in circulation and were legal tender in the islands until 1904, when the American authorities demonetized them in favor of the new US-Philippine peso.[12] The first paper money circulated in the Philippines was the Philippine peso fuerte issued in 1851 by the country's first bank, the El Banco Español Filipino de Isabel II. Convertible to either silver pesos or gold onzas, its volume of 1,800,000 pesos was small relative to about 40,000,000 silver pesos in circulation at the end of the 19th century. A fanciful etymology for the term pera holds that it was inspired by the Carlist Wars where Queen Isabel II was supposedly called La Perra (The Bitch) by her detractors, and thus coins bearing the image of Isabel II were supposedly called perras, which became pera. A less outlandish Spanish origin, if the term is indeed derived from Spanish, could be the Spanish coins of 10 and 5 céntimos de peseta (valued locally at 2 and 1 céntimos de peso) which were nicknamed perra gorda and perra chica, where the "bitch" or female dog is a sarcastic reference to the Spanish lion. Arguments against either theory are that the coins bearing the face of Isabel II were nicknamed Isabelinas and that the perra coins were only introduced to the Philippines in 1897. Revolutionary Period [edit] Asserting its independence after the Philippine Declaration of Independence on June 12, 1898, the República Filipina (Philippine Republic) under General Emilio Aguinaldo issued its own coins and paper currency backed by the country's natural resources. The coins were the first to use the name centavo instead of céntimo for the subdivision of the peso. The island of Panay also issued revolutionary coinage. After Aguinaldo's capture by American forces in Palanan, Isabela on March 23, 1901, the revolutionary peso ceased to exist. American Colonial Period [edit] After the United States took control of the Philippines, the United States Congress passed the Philippine Coinage Act of 1903, established the unit of currency to be a theoretical gold peso (not coined) consisting of 12.9 grains of gold 0.900 fine (0.0241875 XAU). This unit was equivalent to exactly half the value of a U.S. dollar.[13] Its peg to gold was maintained until the gold content of the U.S. dollar was reduced in 1934. Its peg of ₱2 to the U.S. dollar was maintained until independence in 1946. The act provided for the coinage and issuance of Philippine silver pesos substantially of the weight and fineness as the Mexican peso, which should be of the value of 50 cents gold and redeemable in gold at the insular treasury, and which was intended to be the sole circulating medium among the people. The act also provided for the coinage of subsidiary and minor coins and for the issuance of silver certificates in denominations of not less than 2 nor more than 10 pesos (maximum denomination increased to 500 pesos from 1905). It also provided for the creation of a gold-standard fund to maintain the parity of the coins so authorized to be issued and authorized the insular government to issue temporary certificates of indebtedness bearing interest at a rate not to exceed 4 percent per annum, payable not more than one year from date of issue, to an amount which should not at any one time exceed 10 million dollars or 20 million pesos. The US territorial administration also issued Culion leper colony coinage between 1913 and 1930. Commonwealth Period [edit] When the Philippines became a U.S. Commonwealth in 1935, the coat of arms of the Philippine Commonwealth was adopted and replaced the arms of the U.S. Territories on the reverse of coins while the obverse remained unchanged. This seal is composed of a much smaller eagle with its wings pointed up, perched over a shield with peaked corners, above a scroll reading "Commonwealth of the Philippines". It is a much busier pattern, and widely considered less attractive. World War II [edit] Main article: Japanese government-issued Philippine peso In 1942, at the height of the resistance against the Japanese invasion in Corregidor island, US-Philippine forces managed to ship off to Australia most of the gold and significant assets held in reserve by Manila's banks, but they had to discard an estimated ₱ 15 million worth of silver pesos into the sea off Caballo Bay rather than surrender it to the Japanese. After the war these assets would be returned to Philippine banks, and most of the discarded pesos would be recovered but in badly corroded condition.[14] The Japanese occupiers of the Philippines then introduced fiat notes for use in the country. Emergency circulating notes (also termed "guerrilla pesos") were also issued by banks and local governments, using crude inks and materials, which were redeemable in silver pesos after the end of the war. The puppet state under José P. Laurel outlawed possession of guerrilla currency and declared a monopoly on the issuance of money and anyone found to possess guerrilla notes could be arrested or even executed. Because of the fiat nature of the currency, the Philippine economy felt the effects of hyperinflation. Combined U.S. and Philippine Commonwealth military forces including recognized guerrilla units continued printing Philippine pesos, so that, from October 1944 to September 1945, all earlier issues except for the emergency guerrilla notes were considered illegal and were no longer legal tender. Independence and the Central Bank of the Philippines, 1949–1993 [edit] Republic Act No. 265 created the Central Bank of the Philippines (now the Bangko Sentral ng Pilipinas) on January 3, 1949, in which was vested the power of administering the banking and credit system of the country. Under the act, all powers in the printing and mintage of Philippine currency was vested in the CBP, taking away the rights of the banks such as Bank of the Philippine Islands and the Philippine National Bank to issue currency.[15] The Philippines faced various post-war problems due to the slow recovery of agricultural production, trade deficits due to the need to import needed goods, and high inflation due to the lack of goods. The CBP embarked on a fixed exchange system during the 1950s where the peso's convertibility was maintained at ₱2 per U.S. dollar by various measures to control and conserve the country's international reserves.[16] This system, combined with other "Filipino First" efforts to curtail importations, helped reshape the country's import patterns and improve the balance of payments. Such restrictions, however, gave rise to a black market where dollars routinely traded for above ₱3 per dollar. The CBP's allocation system which rations a limited supply of dollars at ₱2 per dollar to purchase priority imports was exploited by parties with political connections. Higher black market exchange rates drove remittances and foreign investments away from official channels. By 1962 the task of maintaining the old ₱2 per dollar parity while defending available reserves has become untenable under the new Diosdado Macapagal administration, opening up a new decontrol era from 1962 to 1970 where foreign exchange restrictions were dismantled and a new free-market exchange rate of ₱3.90 per dollar was adopted since 1965. This move helped balance foreign exchange supply versus demand and greatly boosted foreign investment inflows and international reserves. However, a weak manufacturing base that can't capture market share in (mostly imported) consumer goods meant that devaluation only fueled inflation, and by the time the decontrol era ended in 1970 another devaluation to ₱6.43 per dollar was needed. In 1967, coinage adopted Filipino language terminology instead of English, banknotes following suit in 1969. Consecutively, the currency terminologies as appearing on coinage and banknotes changed from the English centavo and peso to the Filipino sentimo and piso. However, centavo is more commonly used by Filipinos in everyday speech. The CBP's final era from 1970 until the BSP's reestablishment in 1993 involved a managed float system with no more fixed parity commitments versus the dollar. The CBP only committed to maintain orderly foreign exchange market conditions and to reduce short-term volatility. Difficulties continued throughout the 1970s and 1980s in managing inflation and keeping exchange rates stable, and was complicated further by the CBP lacking independence in government especially when the latter incurs fiscal shortfalls. The worst episode occurred when a confidence crisis in the Ferdinand Marcos administration triggered a capital flight among investors between August 1983 to February 1986, nearly doubling the exchange rate from ₱11 to ₱20 per dollar and also doubling the prices of goods. Reorganization to the new Bangko Sentral ng Pilipinas [edit] Positive political and economic developments in the 1990s paved the way for further economic liberalization and an opportunity to unburden the central bank of objectives that are inconsistent with keeping inflation stable. The New Central Bank Act (Republic Act No 7653) of June 14, 1993 replaces the old CBP with a new Bangko Sentral ng Pilipinas mandated explicitly to maintain price stability, and enjoying fiscal and administrative autonomy to insulate it from government interference. This, along with the further liberalization of various foreign exchange regulations, puts the Philippine peso on a fully floating exchange rate system. The market decides on the level in which the peso trades versus foreign currencies based on the BSP's ability to maintain a stable inflation rate on goods and services as well as sufficient international reserves to fund exports. Black market exchange rates as seen in the past are now nonexistent since official markets now reflect underlying supply and demand.[17] The Philippine peso has since traded versus the U.S. dollar in a range of ₱24–46 from 1993 to 1999, ₱40–56 from 2000 to 2009, and ₱40–54 from 2010 to 2019. The previous 1903–1934 definition of a peso as 12.9 grains of 0.9 gold (or 0.0241875 XAU) is now worth ₱2,266.03 based on gold prices as of November 2021.[18] Names for different denominations [edit] The smallest currency unit is called centavo in English (from Spanish centavo). Following the adoption of the "Pilipino series" in 1967, it became officially known as sentimo in Filipino (from Spanish céntimo).[19] However, "centavo" and its local spellings, síntabo and sentabo, are still used as synonyms in Tagalog. It is the most widespread preferred term over sentimo in other Philippine languages, including Abaknon,[20] Bikol,[21] Cebuano,[22][23] Cuyonon,[24] Ilocano,[25] and Waray,[20] In Chavacano, centavos are referred to as céns (also spelled séns).[26] Tagalog language words for the different centavo-denominated coins were more common in the 20th century before the decrease in their use afterwards.[27] The half-centavo coin was called a kusing, and the 1-centavo coin was called isang pera or sampera. Coins for 5, 10, 25 and 50 centavos went by their Spanish names singko, diyes, bentesingko and singkwenta. Additionally, the 50-centavo coin was also called salapi. The terms "1 peso each", "50 centavos each" and "1 centavo each" may be expressed as mamiso, manalapi and mamera, respectively. Coins [edit] The Spanish administration opened the Casa de Moneda de Manila (or Manila mint) in 1857 in order to supply coins for the Philippines, minting silver coins of 10 céntimos, 20 céntimos, and 50 céntimos; and gold coins of 1 peso, 2 pesos and 4 pesos. The American government minted currency under the Philippine Coinage Act of 1903 in its mints in the United States, in base-metal denominations of half centavo, one centavo and five centavos; and in silver denominations of 10 centavos, 20 centavos, 50 centavos and 1 peso. They eventually deemed it more economical and convenient to mint coins in the Philippines, hence the re-opening of the Manila Mint in 1920, which produced coins until the Commonwealth Era excluding 1⁄2 centavo and regular-issue 1-peso coins (commemorative 1-peso coins were minted in 1936). In 1937 the eagle-and-shield reverse design was changed into the coat-of-arms of the Commonwealth of the Philippines while retaining the legend "United States of America". During the Second World War, no coins were minted from 1942 to 1943 due to the Japanese Occupation. Minting resumed in 1944–45 for the last time under the Commonwealth. Coins only resumed in 1958 after an issuance of centavo-denominated fractional banknotes from 1949 to 1957. 50-centavo coin, English series (1964) 1-piso coin, Pilipino series, 1972–1974 The one-peso coin of the BSP series In 1958, the new English coinage series entirely of base metal was introduced, consisting of bronze 1 centavo, brass 5 centavos and nickel-brass 10 centavos, 25 centavos and 50 centavos. The 20-centavo denomination was discontinued. [28] In 1967, the Pilipino-language coin series was introduced with the peso and centavo renamed into piso and sentimo. It consisted of aluminum 1-sentimo, brass 5-sentimo, and nickel-brass 10, 25 and 50 sentimo. The 1-piso coin was reintroduced in 1972.[29] In 1975, the Ang Bagong Lipunan Series was introduced. It consisted of aluminum 1-sentimo, brass 5-sentimo, cupro-nickel 10-sentimo, 25-sentimo and 1-piso, and a pure nickel 5-piso coin which rarely circulated. [30] In 1983, the Flora and Fauna Series was introduced. It consisted of aluminum 1, 5 and 10-sentimo, brass 25-sentimo, and cupro-nickel 50-sentimo, 1-piso and a new 2-piso coin. From 1991 to 1994 the sizes of coins from 25-sentimo to 2-piso were reduced under the Improved Flora and Fauna Series, and a new nickel-brass 5-piso coin was introduced. [31] [32] In 1995, the New Design coin series was introduced with the aim of replacing and demonetizing all previously issued coin series on January 3, 1998. It initially consisted of copper-plated steel 1, 5 and 10-sentimo, brass 25-sentimo, copper-nickel 1-piso and nickel-brass 5-piso. In 2000, the bimetallic 10-piso coin was added to the series. In 2004 the composition of the 25-sentimo and 1-piso was changed to brass-plated steel and nickel-plated steel, respectively. The current series, the New Generation Currency Series was introduced in 2017, consisting of nickel-plated steel 1, 5 ,25 sentimo and 1, 5 and 10-piso. In December 2019 the bimetallic plated-steel 20-piso coin was introduced,[33] together with a modified nine-sided 5-piso coin issued in response to numerous complaints that the round steel 5-piso coin looked too much like the 1-piso and 10-piso. Denominations worth P0.25 (~$0.005) and below are still issued but have been increasingly regarded as a nuisance. Proposals to retire and demonetize all coins less than one peso in value have been rejected by the government and the BSP.[34] New Generation coin series Value Obverse Reverse Diameter Mass Thickness Composition Edge Obverse Reverse Introduced 1-sentimo 15 mm 1.90 g 1.54 mm Nickel-plated steel Plain "Republika ng Pilipinas"; Three stars and the sun (stylized representation of the Philippine flag); Value; Year of minting; Mint mark Xanthostemon verdugonianus (Mangkono); logo of the Bangko Sentral ng Pilipinas March 26, 2018 5-sentimo 16 mm 2.20 g 1.60 mm Reeded Hoya pubicalyx[35] (Kapal-kapal Baging); logo of the Bangko Sentral ng Pilipinas 25-sentimo 20 mm 3.60 g 1.65 mm Plain Dillenia philippinensis (Katmon); logo of the Bangko Sentral ng Pilipinas 1-piso 23 mm 6.00 g 2.05 mm Segmented (Plain and Reeded edges) "Republika ng Pilipinas"; Portrait of José Rizal; Value; Year of minting; Mint mark Vanda sanderiana (Waling-waling); logo of the Bangko Sentral ng Pilipinas March 26, 2018 5-piso 25 mm 7.40 g 2.20 mm Plain "Republika ng Pilipinas"; Portrait of Andrés Bonifacio; Value; Microprint of "Republika ng Pilipinas"; Year of minting; Mint mark Strongylodon macrobotrys (Tayabak); logo of the Bangko Sentral ng Pilipinas; Microprint of "Bangko Sentral ng Pilipinas" November 30, 2017 5-piso (nonagonal shape) 25 mm 7.40 g 2.20 mm December 17, 2019 10-piso 27 mm 8.00 g 2.05 mm Reeded with edge inscription of "BANGKO SENTRAL NG PILIPINAS" in italics "Republika ng Pilipinas"; Portrait of Apolinario Mabini; Value; Microprint of "Republika ng Pilipinas"; Year of minting; Mint mark Medinilla magnifica (Kapa-kapa); logo of the Bangko Sentral ng Pilipinas; Microprint of "Bangko Sentral ng Pilipinas"; Microdots March 26, 2018 20-piso 30 mm 11.50 g 2.10 mm Ring: bronze-plated steel; Center: nickel-plated steel Plain edge with inscription of "BSP" at six angles Ring: "Republika ng Pilipinas"; Center: Portrait of Manuel Quezon; Value; Microprint of "Republika ng Pilipinas"; Year of minting; Mint mark Scyphiphora hydrophylacea (Nilad); logo of the Bangko Sentral ng Pilipinas; Malacañang Palace; Microprint of "Bangko Sentral ng Pilipinas" December 17, 2019 Banknotes [edit] One-peso Treasury Certificate, 1924 Two-peso note, Ang Bagong Lipunan series Five-peso note, New Design Series Previous series [edit] In 1852, the Philippines first issued banknotes under El Banco Español Filipino de Isabel II (the present Bank of the Philippine Islands) in denominations of 10, 25, 50 and 200 pesos fuertes (strong pesos). By 1903, the American colonial Insular Government issued Silver Certificates in denominations of 1, 2, 5, 10, 20, 50, 100 and 500 pesos, backed by silver coin or U.S. gold at a fixed rate of 2:1. These were supplemented by banknotes of the Bank of the Philippine Islands in 1908, banknotes of the Philippine National Bank in 1916, and Treasury Certificates of the Philippine Treasury in 1918 backed by United States Government bonds. Only the latter remained legal tender after Philippine independence in 1946. The dimensions of all banknotes issued under the US-Philippine administration, 16 x 6.6 cm, has been used ever since on all Philippine banknotes (except pre-1958 centavo notes), and was introduced during William Howard Taft's tenure as governor-general of the Philippines. In view of its highly successful run, President Taft then appointed a committee that reported favorably on the advantages and savings from changing the size of United States banknotes to Philippine-size. [36] Since 1928 the sizes of the U.S. dollar Federal Reserve Notes and Philippine banknotes have therefore been nearly identical. In 1949, the Central Bank of the Philippines took over paper money issue. Its first notes were Treasury Certificates printed under US administration overprinted with "Victory - Central Bank of the Philippines". These were followed in 1951 by regular-issue English Series banknotes in denominations of 5, 10, 20 and 50 centavos, 1 peso, 2 pesos, 5 pesos, 10 pesos, 20 pesos, 50 pesos, 100 pesos, 200 pesos and 500 pesos. The centavo notes (except for the 50-centavo note, which would be later known as the half-peso note) were discontinued in 1958 when the English Series coins were first minted.[28] In 1967, the CBP adopted the Filipino language on its Pilipino Banknote Series, using the name Bangko Sentral ng Pilipinas, and in 1969 introduced the Pilipino Series of notes in denominations of 1, 5, 10, 20, 50 and 100 piso. The Ang Bagong Lipunan Series was introduced in 1973 and included 2-piso notes.[29][30] A radical change occurred in 1985, when the CBP issued the New Design Series with 500-piso notes introduced in 1987, 1000-piso notes (for the first time) in 1991 and 200-piso notes in 2002.[37] The New Design Series was the name used to refer to Philippine banknotes issued from 1985 to 1993. It was then renamed as the BSP Series due to the re-establishment of the Bangko Sentral ng Pilipinas in 1993. It was succeeded by the New Generation Currency Series issued on December 16, 2010. The New Design/BSP Series banknotes were printed from 1985 to 2013 (1985–1995 for the 5 peso notes, 1985–2001 for the 10 peso notes, 1986–2012 for the 20 peso notes, 1991–2012 for the 1000 peso notes, 2002–2013 for the 200 peso notes, and 1987–2013 for 50, 100, and 500 peso notes). Existing banknotes remained legal tender until December 31, 2015. The notes were originally to be demonetized by January 1, 2017,[38][39][40][41][42][43] but the deadline for exchanging the old banknotes was extended twice, on June 30, 2017, and December 29, 2017. After that date, all NDS/BSP banknotes were demonetized and are no longer a liability of the Bangko Sentral ng Pilipinas.[44][45] New Generation Currency (current) [edit] Main article: New Generation Currency series In 2009, Bangko Sentral ng Pilipinas (BSP) announced that it has launched a massive redesign for current banknotes and coins to further enhance security features and improve durability.[46] The members of the numismatic committee include BSP Deputy Governor Diwa Guinigundo and Ambeth Ocampo, Chairman of the National Historical Institute. The new banknote designs feature famous Filipinos and iconic natural wonders. Philippine national symbols will be depicted on coins. The BSP started releasing the initial batch of new banknotes in December 2010. Several, albeit disputable, errors have been discovered on banknotes of the New Generation series and discussed over social media. Among these are the exclusion of Batanes from the Philippine map on the reverse of all denominations, the mislocation of the Puerto Princesa Subterranean Underground River on the reverse of the 500-peso note and the Tubbataha Reef on the 1000-peso note, and the incorrect coloring on the beak and feathers of the blue-naped parrot on the 500-peso,[47][48] but these were eventually realized to be due to the color limitations of intaglio printing.[49] The scientific names of the animals featured on the reverse sides of all banknotes were incorrectly rendered in the 2010 series, but were corrected starting 2017.[50] By February 2016, the BSP started to circulate new 100-peso notes which were modified to have a stronger mauve or violet color. This was "in response to suggestions from the public to make it easier to distinguish from the 1000-peso bank note". The public could still use the New Generation Currency 100-peso notes with fainter colors as they are still acceptable.[51] In 2019, Bangko Sentral ng Pilipinas (BSP) introduced a 20-piso coin that will eventually replace the 20-piso note. The latter remained in production until its printing materials were used up; it will remain legal tender, disappearing gradually as individual notes become unfit for circulation.[52][53] New Generation banknote series Value Image Dimensions Main Color Design Year of First Issue Usage in circulation Obverse Reverse Obverse Reverse 20-piso 160 mm × 66 mm Orange Manuel L. Quezon, Declaration of Filipino as the national language, Malacañang Palace Banaue Rice Terraces; Paradoxurus hermaphroditus (Asian palm civet); Cordilleras weave design December 16, 2010 To be replaced by coin 50-piso Red Sergio Osmeña, First Philippine Assembly, Leyte Landing October 1944 Taal Lake in Batangas; Caranx ignobilis, maliputo (giant trevally); Batangas embroidery design Wide 100-piso Violet Manuel A. Roxas, Old Bangko Sentral ng Pilipinas (BSP) building in Intramuros, Manila, Inauguration of the Third Philippine Republic Mayon Volcano in Albay; butanding, Rhincodon typus, whale shark; Bicol textile design 200-piso Green Diosdado P. Macapagal, EDSA People Power 2001, Declaration of Philippine Independence 1898 in Kawit, Cavite, opening of Malolos Congress at Barasoain Church‚ Bulacan Chocolate Hills in Bohol; Tarsius syrichta, Philippine tarsier; Visayas weave design 500-piso Yellow Corazon C. Aquino, Benigno S. Aquino Jr., EDSA People Power I, Benigno Aquino monument in Makati Subterranean Underground River in Puerto Princesa, Palawan; Tanygnathus lucionensis, blue-naped parrot; Southern Philippines cloth design 1,000-piso Light Blue José Abad Santos, Vicente Lim, Josefa Llanes Escoda; Centennial celebration of Philippine independence; Medal of Honor Tubbataha Reefs Natural Park in Sulu Sea; Pinctada maxima, South Sea pearl; Mindanao design for T'nalak (Ikat-dyed abaca) For table standards, see the banknote specification table. Commemorative banknotes [edit] Commemorative banknotes have been issued by the Bangko Sentral ng Pilipinas to memorialize events of historic significance to the Philippines.[54] The most common method of commemoration is by adding a commemorative overprint on the watermark area of a circulating denomination. There also exist especially printed commemorative higher-denomination non-circulating banknotes, in the following denominations: 2,000-piso: Centennial of Declaration of Philippine Independence, 1998 100,000-piso: Centennial of Declaration of Philippine Independence, 1998 5,000-piso: 2021 Quincentennial Commemorations in the Philippines Monetary policy [edit] The Bangko Sentral ng Pilipinas (BSP) was established on July 3, 1993, as the Philippines' central bank, succeeding the previous Central Bank of the Philippines which was established in 1949. Its primary monetary policy objective is to promote a low and stable inflation conducive to a balanced and sustainable economic growth. [55] [56] It achieves this objective through inflation targeting, a monetary policy approach where an inflation target is publicly announced, which the BSP then commits to achieve over a two-year horizon by using these monetary policy tools: Adjusting the policy rate at which the BSP borrows from banks; Open Market Operations where the BSP buys (or sells) government securities and BSP securities in order to increase (or decrease) liquidity; Offering term deposits to absorb liquidity; Standing Liquidity Facilities to provide liquidity to banks as needed; and Increasing (or decreasing) bank reserve requirements to decrease (or increase) remaining liquidity that can be loaned out. Inflation forecasts exceeding targets are addressed by a contractionary policy to bring down inflation to target by increasing policy rates, increasing reserve requirements, or selling government securities - all resulting in reduced liquidity. An expansionary policy to counteract low inflation brought by economic pessimism involves the opposite steps - lower policy rates, lower reserve requirements, or buying government securities. Exchange rates [edit] Historical exchange rate [edit] The official exchange rate was ₱2 against the U.S. dollar from 1946 to 1962, devalued to ₱3.90 in 1962, and devalued again to ₱6.43 in 1970. Black market exchange rates during these periods, however, were nearly always higher than official rates. Several depreciations followed, with the peso trading at ₱18 per dollar in 1984 from the dirty float at ₱11.25 in 1983 [57] and ₱21 in 1986. In the early 1990s, the peso depreciated again to ₱28. Due to the 1997 Asian financial crisis, the peso depreciated from ₱26 in July 1997 to ₱45 in 1998 and to about ₱50 in 2001 before appreciating to ₱41 in 2007. In the 2010s, it was appreciated to ₱40 in 2012, before depreciating to ₱54/$ in 2018. Amidst the COVID-19 pandemic, the peso appreciated as much as ₱47 in 2021. In 2022, the peso depreciated to its all-time low of ₱59.203 per dollar, likely as a result of the economic impact of the Russian invasion of Ukraine.[citation needed] Black market exchange rates as seen in the past are now nonexistent since official exchange rates now reflect underlying supply and demand rather than political considerations. Current exchange rate [edit] Current PHP exchange rates From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD Recent issues [edit] Errors in currency [edit] In 2005, about 78 million 100-peso notes with President Gloria Macapagal Arroyo's surname misspelled as "Arrovo" were printed and planned to be circulated. The error was only found out after 2 million of the notes were circulated and the BSP had ordered an investigation.[58][59][60] The incorrect manner in which scientific names were printed in the 2010 New Generation Currency Series were addressed in 2017 revisions. In December 2017, a 100 peso banknote which had no face of Manuel A. Roxas and no electrotype 100 was issued. The Facebook post was shared over 24,000 times. The BSP said that the banknotes are due to a rare misprint.[61][62] 1-peso coin fraud [edit] By August 2006, it became publicly known that the 1-peso coin has the same size as the 1 United Arab Emirates dirham coin.[63] As of 2010 , 1 peso is only worth 0.08 dirhams, leading to vending machine fraud in the UAE. Fake denominations [edit] In 2017, a one-peso coin that was allegedly minted in 1971 was said to bear the design of the novel Noli Me Tángere by Jose Rizal at the back of the coin. The coin was allegedly sold for up to ₱1,000,000. The holder of the said coin was interviewed by Kapuso Mo, Jessica Soho about this, but potential buyers made no serious offers to purchase the coin, and the BSP said that it did not release any coin of the said design. The BSP also mentioned that the coin is thinner than the circulating coin which gives the possibility that someone might have tampered it and replaced it with a different design.[64] In June 2018, a Facebook page posted a ₱10,000 note with a portrait of President Ramon Magsaysay on the front and a water buffalo and Mount Pinatubo on the back. The Bangko Sentral ng Pilipinas did not issue this banknote and stressed that only 6 denominations are in current circulation (20, 50, 100, 200, 500 and 1,000 pesos). The Facebook page of the BSP said that it was fake. The signature was also of former governor of the Bangko Sentral ng Pilipinas Amando Tetangco Jr.[65] It was found out that the photo was from a different user who found a fake 10,000 peso banknote in a book at a library. Folded banknotes [edit] In July 2022, a Facebook user posted a ₱1,000 banknote (polymer variant) that is slightly folded and complained how SM supermalls rejected the said banknote due to it being folded while also warning the public to not fold their ₱1,000 polymer banknotes. SM supermalls in Facebook and the BSP later wrote official statements announcing that folded polymer notes are still being accepted.[66][67][68] See also [edit] Economy of the Philippines References [edit] Bibliography [edit]
9083	dbpedia	1	12	https://www.worlddata.info/currencies/php-philippine-peso.php	en	Countries that use the Philippine peso	https://cdn.worlddata.in…cs/money/PHP.jpg	https://cdn.worlddata.in…cs/money/PHP.jpg	[ "https://cdn.worlddata.info/pics/logo-en750.png", "https://cdn.worlddata.info/pics/money/PHP.jpg", "https://cdn.worlddata.info/pics/gold.jpg", "https://cdn.worlddata.info/pics/shopping-cart.jpg", "https://cdn.worlddata.info/pics/flags3d/POL.png" ]	[]	[]	[ "" ]	null	[]	null	Usage and exchange rates of the Philippine peso. Convert PHP to any other currency.	en	//cdn.worlddata.info/pics/favs/64x64.png	Worlddata.info	https://www.worlddata.info/currencies/php-philippine-peso.php	The Philippine peso is an official national currency and used only in the Philippines. 1 Peso is devided into 100 Centavos. ISO 4127: PHP Numeric: 608 Symbol: ₱‎ List of all currencies Overview: Philippines 1.00 Philippine pesos = 0.018 US dollars Currency: Convert to: Amount: ↔ Reverse currencies Exchange rate history 10 PHP in USD The graph shown here shows the exchange rate development from January 2018 to March 2024. The exchange rate for 10 PHP moved during this time from USD 0.19 to USD 0.18. In these 74 months it fell by 6.4 percent. › Inflation development in the Philippines Currency reserves for the Philippine peso According to the International Monetary Fund, the total broad money (M3) amounted to PHP 18.913 trillion at the end of 2022. For currency hedging, reserves were held in a total amount of 5.232 trillion pesos. This corresponds to a ratio of 1:3.6. Or in other words, 10 of 36 pesos are deposited with a countervalue, which is internationally already above average. Approximately 154.94 billion pesos (3.0%) of the currency reserves exist in gold reserves. The remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions. › Worldwide currency and gold reserves Sources All conversion rates are based on data from the European Central Bank. Data on currency and gold reserves are from the International Monetary Fund.
9083	dbpedia	2	47	https://www.focus-economics.com/country-indicator/philippines/exchange-rate/	en	Philippines Exchange Rate	https://www.focus-econom…avicon-32x32.png	https://www.focus-econom…avicon-32x32.png	[ "https://secure.insightful-enterprise-intelligence.com/782144.png", "https://static.focus-economics.com/app/uploads/2022/08/logo.svg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Store-Country-1.jpg", "https://focus-economics.imgix.net/app/uploads/2022/11/Philippines-scaled.jpg", "https://static.focus-economics.com/app/uploads/2022/11/dataplatform-1.svg", "https://www.focus-economics.com/app/uploads/2022/08/logo-1.svg" ]	[]	[]	[ "" ]	null	[]	2024-08-08T00:00:00+00:00	Updated charts and forecasts on Philippines Exchange Rate (PHP per USD, eop). Get access to accurate economic data and projections now.	en	https://focus-economics.…-icon-fuller.png	FocusEconomics	https://www.focus-economics.com/country-indicator/philippines/exchange-rate/	Consensus Forecasts and Projections for the next ten years How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine exchange rate projections for the next ten years from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Philippine exchange rate. Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine exchange rate projections. Want to get access to the full dataset of Philippine exchange rate forecasts? Send an email to info@focus-economics.com.
9083	dbpedia	0	48	https://www.finder.com/international-money-transfers/currency-exchange-rates/usd-php-exchange-rate	en	US dollar to Philippine peso exchange rate	https://dvh1deh6tagwk.cl…t-feed-image.jpg	https://dvh1deh6tagwk.cl…t-feed-image.jpg	[ "https://www.finder.com/niche-builder/6498ea06d0488.png", "https://www.finder.com/niche-builder/6498ea06d0488.png", "https://www.finder.com/niche-builder/60766ed12db0f.png", "https://www.finder.com/niche-builder/5ef1a03154a19.png", "https://www.finder.com/niche-builder/601cf3ea1223e.png", "https://www.finder.com/niche-builder/6536cd80c9f4b.png", "https://www.finder.com/niche-builder/6536ce0f45737.png", "https://www.finder.com/niche-builder/6536cd80c9f4b.png", "https://www.finder.com/niche-builder/5ef2930532082.png", "https://www.finder.com/niche-builder/5ef1a03154a19.png", "https://www.finder.com/niche-builder/60766ed12db0f.png", "https://www.finder.com/niche-builder/5ef2930532082.png", "https://www.finder.com/niche-builder/5efaeeab14f46.png", "https://www.finder.com/niche-builder/5ef17c356d3ba.png", "https://www.finder.com/niche-builder/6124de78cd36a.png", "https://www.finder.com/niche-builder/6536ce0f45737.png", "https://www.finder.com/niche-builder/60791b95dcff8.png", "https://www.finder.com/niche-builder/6498ea06d0488.png", "https://www.finder.com/niche-builder/6498ea06d0488.png", "https://www.finder.com/niche-builder/6498ea06d0488.png", "https://www.finder.com/niche-builder/5ef17c356d3ba.png", "https://www.finder.com/niche-builder/6124de78cd36a.png", "https://www.finder.com/niche-builder/5ef2cdaabbeb3.png", "https://www.finder.com/niche-builder/6536ce346e2a4.png", "https://www.finder.com/niche-builder/5ef2cdaabbeb3.png", "https://www.finder.com/niche-builder/5efaeeab14f46.png", "https://www.finder.com/niche-builder/5efaeeab14f46.png", "https://www.finder.com/niche-builder/5efaeeab14f46.png", "https://www.finder.com/niche-builder/602fd175dc1a8.png", "https://www.finder.com/niche-builder/5ef2930532082.png", "https://www.finder.com/parent-theme/static/flags/24/United-States.png", "https://www.finder.com/parent-theme/static/flags/32/Australia.png", "https://www.finder.com/parent-theme/static/flags/32/Canada.png", "https://www.finder.com/parent-theme/static/flags/32/United-Kingdom.png" ]	[]	[]	[ "" ]	null	[]	2017-04-28T22:04:56+00:00	Discover fresh US dollar to Philippine peso rates to help you secure the best transfers, updated once a minute.	en	https://www.finder.com/wp-content/themes/finderottrta/finder-eyes-48.ico	finder.com	https://www.finder.com/international-money-transfers/currency-exchange-rates/usd-php-exchange-rate	finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
9083	dbpedia	1	7	https://www.philippine-embassy.org.sg/travel-advisories/bringing-currency-into-the-philippines/	en	Bringing Currency into the Philippines			[ "https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1.png 856w, https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1-300x70.png 300w, https://www.philippine-embassy.org.sg/wp-content/uploads/Logo-1-768x179.png 768w", "https://www.philippine-embassy.org.sg/wp-content/uploads/elementor/thumbs/Untitled-design-4-qk7jrqtp85fw5frs5wmge5ubnvbellphyoev7252hc.png", "https://cdn.printfriendly.com/buttons/printfriendly-pdf-email-button-notext.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1.png", "https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1.png 221w, https://www.philippine-embassy.org.sg/wp-content/uploads/image-12-1-150x150.png 150w" ]	[]	[]	[ "" ]	null	[]	2015-04-03T05:14:22+08:00	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral. Philippine Peso A person	en		Embassy of the Philippines in Singapore - Embassy of the Philippines in Singapore	https://www.philippine-embassy.org.sg/travel-advisories/bringing-currency-into-the-philippines/	In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral. Philippine Peso A person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas. The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines. The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority. The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. 922, series of 2016, dated 23 August 2016, titled “The Amendments of the Rules on Cross-Border Transfer of Local Currency”. Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs. Foreign Currency A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines. Other monetary instruments include travellers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment. If a person wishes to bring more that the equivalent of USD 10,000, a written declaration must be made in the form of the BSP’s “Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form” which may be downloaded from http://www.bsp.gov.ph/regulations/regulations.asp?type=1&id=631. Rules on bringing Philippine of Foreign Currencies into or out of the Philippines Manual of Regulations on Foreign Exchange Transactions
9083	dbpedia	2	51	https://sg.finance.yahoo.com/news/emerging-markets-philippine-peso-equities-082310235.html	en	EMERGING MARKETS-Philippine peso, equities steady after cenbank holds rates	https://s.yimg.com/cv/ap…go-1200x1200.png	https://s.yimg.com/cv/ap…go-1200x1200.png	[ "https://sg.finance.yahoo.com/_td_api/beacon/info?beaconType=noJSenabled&bucket=finance-SG-en-SG-def&code=pageRender&device=desktop&lang=en-SG&pageName=deeplink&region=SG&rid=4igdqdpjc6pge&site=finance&t=1724081678592", "https://s.yimg.com/ny/api/res/1.2/Pj4npKjKM7pLZetPZXeSRA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIwNjtoPTQ4/https://s.yimg.com/os/creatr-uploaded-images/2020-12/a65a3130-4aca-11eb-bd1f-8abf682d227d", "https://sb.scorecardresearch.com/p?c1=2&c2=7241469&c5=1187300001&c7=https%3A%2F%2Fsg.finance.yahoo.com%2Fnews%2Femerging-markets-philippine-peso-equities-082310235.html&c14=-1" ]	[]	[]	[ "" ]	null	[ "Roshan Thomas" ]	2024-06-27T08:23:10+00:00	(.) * Most Asian currencies largely unchanged * Philippine c.bank holds rates steady * Philippine c.bank says rate cut in August is possible * U.S. PCE inflation data in focus By Roshan Thomas June 27 (Reuters) - The Philippine peso and equities in Manila maintained their modest gains after the central bank kept its interest rate unchanged on Thursday as widely expected, while shares in South Korea fell to mark their sharpest decline in over two weeks. The Philippine peso, which rose modestly before the decision, was steady after the Bangko Sentral ng Pilipinas (BSP) maintained its policy rate for a sixth straight meeting, as expected in the Reuters poll. "We see the risk of further upside pressure on the PHP if the central bank chooses to cut rates much ahead of the Fed," said Alan Lau, FX strategist at Maybank.	en	https://s.yimg.com/rz/l/favicon.ico	Yahoo Finance	https://sg.finance.yahoo.com/news/emerging-markets-philippine-peso-equities-082310235.html	(.) * Most Asian currencies largely unchanged * Philippine c.bank holds rates steady * Philippine c.bank says rate cut in August is possible * U.S. PCE inflation data in focus By Roshan Thomas June 27 (Reuters) - The Philippine peso and equities in Manila maintained their modest gains after the central bank kept its interest rate unchanged on Thursday as widely expected, while shares in South Korea fell to mark their sharpest decline in over two weeks. The Philippine peso, which rose modestly before the decision, was steady after the Bangko Sentral ng Pilipinas (BSP) maintained its policy rate for a sixth straight meeting, as expected in the Reuters poll. Equities in the country advanced slightly up to 1.2% to touch their highest level in more than a week, and were on track to log their fourth straight day of gains. The central bank, however, added that its next move could likely be a rate cut as it expected inflation to slow after a government order slashing tariffs on rice takes effect. "We see the risk of further upside pressure on the PHP if the central bank chooses to cut rates much ahead of the Fed," said Alan Lau, FX strategist at Maybank. Elsewhere, South Korean shares tumbled more than 1%, rattled by disappointing forecasts from U.S. chipmaker Micron. Regional currencies showed limited movement, with the Indonesian rupiah and the Malaysian ringgit slightly weaker against the dollar, which remained near a two-month peak ahead of the U.S. inflation data due on Friday. A robust inflation print would delay expectations of interest rate cuts, bolstering the dollar and putting pressure on emerging market assets. The data would likely be relatively benign, according to Eugene Yuming Leow, a rates strategist at DBS. "This could perhaps ease some of the headwinds for EM (emerging market) assets." As the first half of 2024 draws to a close, most Southeast Asian currencies are deep in the negative territory, with the Thai baht and the Indonesian rupiah emerging as the worst performers. "Investors are constantly on the lookout for better returns on their investments," said Ruben Carlo O. Asuncion, chief economist at the Union Bank of Philippines. "With the U.S. Fed projecting to potentially cut lesser than expected for this year, one would expect investment value slanting toward USD-denominated investments." Stocks in Taiwan, which soared last week in tandem with their U.S. peers riding on the Nvidia wave, fell as much as 1%. Chipmaking giant TSMC down more than 1%. In China, the Shanghai composite index lost 0.8%, while shares in Thailand lost 0.7%. In contrast, equities in Indonesia and Singapore were up 0.8% and 0.4% respectively. HIGHLIGHTS: Indonesian 10-year benchmark yields tick higher to 7.124% Japan finance minister says concerned over weak yen impact on economy Japanese yen languishes near a 38-year low; struggles on weaker side of 160/dollar South Korea to extend won trading hours from Monday Asia stock indexes and currencies at 0704 GMT COUNTRY FX FX FX INDEX STOCKS STOCKS RIC DAILY % YTD % DAILY % YTD % Japan +0.24 -12.06 0.82 17.56 China -0.03 -2.35 -0.85 -0.93 India +0.11 -0.32 0.47 10.36 Indonesia -0.07 -6.20 0.67 -4.41 Malaysia -0.15 -2.69 -0.41 8.92 Philippines +0.15 -5.82 1.23 -0.92 S.Korea +0.21 -7.06 -0.29 4.85 Singapore +0.10 -2.79 0.36 3.19 Taiwan +0.00 -5.58 -0.35 27.75 Thailand +0.09 -7.37 -0.63 -7.42 (Reporting by Roshan Thomas in Bengaluru; Editing by Jamie Freed and Janane Venkatraman)
9083	dbpedia	2	91	https://www.gmanetwork.com/news/money/economy/843918/how-weak-peso-vs-dollar-affects-inflation-purchasing-power/story/	en	How weak peso vs dollar affects inflation, purchasing power	https://images.gmanews.t…_19_17_25_33.jpg	https://images.gmanews.t…_19_17_25_33.jpg	[ "https://aphrodite.gmanetwork.com/assets/revamp/img/gma_white.png", "https://images.gmanetwork.com/res/img/my_stream.png", "https://images.gmanetwork.com/res/img/gno_logo_svg1.svg", "https://pixel.quantserve.com/pixel/p-ernMzxMzj4rTH.gif" ]	[]	[]	[ "business and industry", "Philippine Economy", "Forex", "Philippine inflation", "remittances", "currencies" ]	null	[ "TED CORDERO,GMA News", "TED CORDERO", "GMA News" ]	2022-09-06T15:34:36+08:00	On Monday, the Philippine peso weakened against the US dollar to a new all-time low amid the strengthening of the greenback due to the hawkish stance of the Federal Reserve to tame inflation.	en	https://www.gmanetwork.com/favicon.ico	GMA News Online	https://www.gmanetwork.com/news/money/economy/843918/how-weak-peso-vs-dollar-affects-inflation-purchasing-power/story/	On Monday, the Philippine peso weakened against the US dollar to a new all-time low amid the strengthening of the greenback due to the hawkish stance of the Federal Reserve to tame inflation. The local currency closed at P56.999:$1, shedding 22.9 centavos from Friday’s close of P56.77:$1, its previous record low. The peso almost plunging to P57 against the US dollar has never been seen before. But how does a weaker peso against its US counterpart affect inflation and the purchasing power of Filipinos? The Philippine Statistics Authority (PSA) and economists weigh in. At a press conference on Tuesday, National Statistician and PSA chief Claire Dennis Mapa said that although the purchasing power of the peso is not computed based on the US dollar’s value, its inflationary impact could affect the local currency’s purchasing value. “Strong dollar versus the peso has an impact on the items in the consumer price index,” Mapa said, noting that imported commodities such as petroleum, which are bought using dollars, could impact local pump prices and, therefore, affect inflation. “Purchasing power of the peso is really a function of inflation. [A stronger US dollar] will affect the purchasing power of the peso only if the strong dollar will have an impact on our headline inflation,” Mapa said. The PSA chief added that the purchasing power of the peso or the value of P1 in 2018 remained at 86 centavos in August this year as inflation slowed down to 6.3%, albeit still elevated. Sought for comment, Rizal Commercial Banking Corporation chief economist Michael Ricafort said that, since the start of 2022, the peso depreciated against the US dollar by nearly 12%. “[M]eaning the costs/prices of imported oil, other commodities, and other products already became more expensive by nearly 12% since the start of 2022, assuming all other factors are the same, already much higher or more than double the average inflation of 4.9% from January-August 2022,” Ricafort explained. “Thus, the weaker peso exchange rate would contribute to higher overall inflation and would fundamentally erode the purchasing power of the peso relative to the US dollar as there would be more pesos needed to pay the same amount in US dollars, clearly showing the outright deterioration of the peso’s purchasing power.” “On top of the effects of higher prices/inflation in the local economy that also separately erodes the peso’s purchasing power from the point of view of local residents, with more pesos needed to pay the same local products due to higher local prices/inflation,” Ricafort said. Likewise, economist Professor Emmanuel Leyco, president of the Pamantasan ng Lungsod ng Maynila, said that a depreciating peso against the dollar may weaken the purchasing power of the peso, especially when buying imported goods. “It may also accelerate inflation since it may also cause imported petroleum and food prices to increase,” Leyco said. Will a stronger US dollar benefit recipients of OFW remittances? Mapa said that recipients of overseas Filipino workers’ (OFWs) remittances in the Philippines could benefit from a strong US dollar as the peso equivalent of their money transfers will increase. “Their purchasing power will increase slightly,” Mapa said. However, Leyco said that while a stronger dollar could benefit those who receive remittances from OFWs, “it will only be temporary as inflation could easily wipe out the benefits of a stronger dollar.” Data from the Bangko Sentral ng Pilipinas showed that in June cash remittances — money transfers coursed through banks — stood at $2.755 billion, 4.4% higher than the $2.638 billion the same month last year. First-half remittance inflows totaled $15.347 billion, up by 2.9% from $14.918 billion during the comparable period last year. Meanwhile, personal remittances — the sum of transfers sent in cash or in-kind via informal channels — grew by 4.4% to $3.064 billion from $2.936 billion in June 2022.
9083	dbpedia	3	65	https://www.economist.com/big-mac-index	en	Our Big Mac index shows how burger prices differ across borders	https://www.economist.co…80707_WOC666.png	https://www.economist.co…80707_WOC666.png	[]	[]	[]	[ "" ]	null	[ "The Economist" ]	2024-08-02T09:58:55+00:00	Using patty-power parity to think about exchange rates \| News	en	/favicon.ico	The Economist	https://www.economist.com/big-mac-index	Using patty-power parity to think about exchange rates
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Transfer via cash pickup, mobile money, bank transfer, or mobile load.	en	/web-cms-assets/next-assets/icons/favicon.svg	WorldRemit	https://www.worldremit.com/en-us/philippines	You need to register with WorldRemit to send money to the Philippines. You can do it on the website or access the WorldRemit app on your Android or iOS phone. First, tell us who you are Sign up with your full name, email address, mobile phone number, gender, birth date and address. Verifying your information We'll verify your mobile phone number with an OTP. You may be required to provide ID proof and a selfie image to verify your identity. Identity verification takes up to 4 minutes at least 90% of the time. In case of a delay, we'll contact you immediately. Creating a transfer Choose the amount you want to send, select how your receiver wants to get the money, and lastly, how you want to pay. You will always see the final amount you will pay and our fees upfront, as well as the exact amount your receiver will get. Tell us who you are sending money to We need specific details of your receiver in Philippines based on the receive method. The receiver's full name, mobile number and email address are always required to send money. Your receiver does not need to have a WorldRemit account. Paying for the transfer You will need a bank account, a debit card or a credit card to pay for the money transfer to the Philippines. First-Transfer Enhanced FX Rate: Select country corridors and delivery methods only. This promotion is for new customers only and can only be used once per person. Fees and charges will still apply. FX rates subject to change. This promotion cannot be abused. We reserve the right to alter, suspend or cancel this promotion at any time. You are liable for any personal tax consequences and compliance with relevant law in relation to this promotion. 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9083	dbpedia	0	30	https://www.currency.me.uk/convert/php/usd	en	Convert Philippine Pesos to Dollars	https://www.currency.me.uk/favicon.ico	https://www.currency.me.uk/favicon.ico	[ "https://www.currency.me.uk/images/flags/128/ph.png", "https://www.currency.me.uk/images/flags/128/us.png", "https://www.currency.me.uk/images/728x90_emigrating.gif", "https://www.currency.me.uk/images/flags/32/gb.png", "https://www.currency.me.uk/images/flags/32/au.png", "https://www.currency.me.uk/images/flags/32/it.png", "https://www.currency.me.uk/images/flags/32/za.png", "https://www.currency.me.uk/images/flags/32/th.png", "https://www.currency.me.uk/images/flags/32/ae.png", "https://www.currency.me.uk/images/flags/32/in.png", "https://www.currency.me.uk/images/flags/32/ca.png", "https://www.currency.me.uk/images/flags/32/us.png", "https://www.currency.me.uk/images/flags/32/fr.png", "https://www.currency.me.uk/images/flags/32/nz.png", "https://www.currency.me.uk/images/flags/32/es.png", "https://www.currency.me.uk/images/flags/32/tr.png", "https://www.currency.me.uk/images/flags/32/de.png" ]	[]	[]	[ "PHP to USD \| Convert Philippine Pesos to Dollars - Exchange Calculator" ]	null	[]	null	Convert Philippine Pesos to Dollars otherwise known as PHP to USD. Live conversions at of August 2024		/favicon.ico		null	On this page convert PHP to USD using live currency rates as of 19/08/2024 16:33. Includes a live currency converter, handy conversion table, last 7 days exchange rate history and some live Philippine Pesos to Dollars charts. Invert these currencies? Currency Converter Use this currency calulator for live currency conversions as you type.
9083	dbpedia	2	29	https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/eurofxref-graph-php.en.html	en	Euro exchange rates charts	https://www.ecb.europa.e…ee20bede19aa9e73	https://www.ecb.europa.e…ee20bede19aa9e73	[ "https://www.ecb.europa.eu/shared/img/logo/logo_name.en.svg", "https://www.ecb.europa.eu/shared/img/logos_mobile/ECB_Eurosystem_OneLineLogo_Mobile_EN.svg", "https://www.ecb.europa.eu/shared/img/logo/logo_only.svg", "https://www.ecb.europa.eu/press/tvservices/html/index/ECB press conference place holder new_2560x1440.jpg", "https://www.ecb.europa.eu/paym/financial-stability/html/index/fsr_1000x750.jpg", "https://www.ecb.europa.eu/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg", "https://www.ecb.europa.eu/euro/digital_euro/shared/img/Digital Euro_Website_Homepage-Box-eurosign_1000x750.jpg", "https://www.ecb.europa.eu/pub/html/index/research-bulletin_2560x800.jpg" ]	[]	[]	[ "" ]	null	[ "European Central Bank" ]	2024-08-19T00:00:00	The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.	en	/fav.ico	European Central Bank	https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/eurofxref-graph-php.en.html	Our website uses cookies We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies. Learn more about how we use cookies Thank you! Thank you! Your cookie preference has expired We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies. Learn more about how we use cookies
9083	dbpedia	3	6	https://www.global-exchange.com.au/en/currencies-of-the-world/philippine-peso	en	Philippine Peso	https://www.global-exchange.com.au/documents/20151/31618/favicon.png/54a53a66-bc81-dbec-5206-5cee30bb0cd9?t=1667562804900	https://www.global-exchange.com.au/documents/20151/31618/favicon.png/54a53a66-bc81-dbec-5206-5cee30bb0cd9?t=1667562804900	[ "https://www.global-exchange.com.au/documents/20151/31618/icon-telefono-30x30.png/6e34af50-41de-3ad5-dfe0-e9a2b1f69d65?t=1554886070376", "https://www.global-exchange.com.au/documents/20151/31618/icon-telefono-azul-30x30.png/a8c1eb0c-85b1-c60a-e2b6-fa2a92f3b72c?t=1554890860643", "https://www.global-exchange.com.au/documents/20151/31510/peso-filipino-monedas.jpg/c15ad39a-8c7f-9433-5d58-788bca31ebf0?t=1539761873489", "https://www.global-exchange.com.au/documents/20151/31510/peso-filipino-billetes.jpg/c30d0022-afe8-d145-f906-2daa5071f54f?t=1539761873351", "https://www.global-exchange.com.au/documents/20151/31483/logo02.jpg/41c7b93a-c4d3-9378-bcad-2263456a2ce5?t=1537774684972", "https://www.global-exchange.com.au/documents/20151/31618/ico01.png/0f25dcb8-65d4-663c-4f3a-a0f147720e8a?t=1623407658418", "https://www.global-exchange.com.au/documents/20151/31618/ico02.png/75a91ed8-6426-221c-c9ac-a278d645d7e4?t=1623407671423", "https://www.global-exchange.com.au/documents/20151/31618/ico03.png/4c6d8b70-3d3a-d6c9-a717-b4571f4ac818?t=1623407685279", "https://www.global-exchange.com.au/documents/20151/31618/ico04.png/29cabddc-d5f0-dcb0-3352-77ec36eec3fa?t=1623407696306" ]	[]	[]	[ "" ]	null	[]	null		en	https://www.global-exchange.com.au/documents/20151/31618/favicon.png/54a53a66-bc81-dbec-5206-5cee30bb0cd9?t=1667562804900		https://www.global-exchange.com.au/en/currencies-of-the-world/philippine-peso	The currency of the Philippines (officially, Republic of the Philippines) is called the Philippine Peso. Its ISO 4217 code is PHP and it has PhP or $ as symbol. The issuer of the Philippine Peso is the Central Bank of the Philippines (CBF). The Peso is known in Filipino and Tagalog as "piso" and is divided into 100 cents ("sentimo" in the previous languages). These currencies are issued by the Central Bank of the Philippines. This Central Bank was created by the Republic Act No. 265 on January 3rd, 1949. It is the BCF that manages the banking operations and the country's credit system. In addition, this Act gives the CBF all the powers to print and mint Filipino money since then. Banknotes and coins of the Philippine peso in use The Peso coins are minted in the Security Plant Complex of the Philippines. At present, coins of 1, 5, 10 and 25 cents are in use and those of 1, 2, 5 and 10 pesos are in use. As for the peso notes, they are printed at the Security Plant Complex or at the National Printing Office. At present time, notes of 20, 50, 100, 200, 500 and 1,000 pesos circulate. Did you know? The Philippines has a population of about 102 million inhabitants, being the 12th most populated country in the world. In addition, 11 million Filipinos are currently living abroad. The word "Philippines" derives from the name of King Felipe II of Spain (deformation of "Felipinas"). In addition, the official name of the Philippines has changed several times in the course of its history. Before 1967, the language used in the notes and coins of the Philippines was English. Then it was known as "Peso". But a short time later the name was used in Filipino, changing its name to the "Piso" currency. The Philippine peso has its origins in the Spanish Real of 8 and in the Mexican peso, which circulated widely throughout the Americas and Southeast Asia during the seventeenth and eighteenth centuries.
9083	dbpedia	0	26	https://tradingeconomics.com/philippines/currency	en	Philippine Peso	https://d3fy651gv2fhd3.cloudfront.net/favicon.ico	https://d3fy651gv2fhd3.cloudfront.net/favicon.ico	[ "https://d3fy651gv2fhd3.cloudfront.net/images/google-play.png" ]	[]	[]	[ "Philippines", "Currency", "data", "chart", "actual", "historical", "values", "calendar", "forecast", "graph", "2023", "2024", "2025" ]	null	[]	null	The USDPHP decreased 0.4320 or 0.76% to 56.6595 on Monday August 19 from 57.0915 in the previous trading session. Philippine Peso - values, historical data, forecasts and news - updated on August of 2024.		//d3fy651gv2fhd3.cloudfront.net/favicon.ico		https://tradingeconomics.com/philippines/currency