USD To PHP: Convert United States Dollar to Philippine Peso - Forbes Advisor (2024)

If you plan to visit the Philippines in the near future, you may want to convert USD to PHP. While most big Philippine cities have a high level of credit card acceptance, experts recommend that you have some emergency cash on hand—especially if you’re traveling to areas outside major towns and cities.

Here’s what you need to know before converting U.S. dollars into Philippine pesos, including how to make the conversion and where you’ll find the best exchange rates.

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How to convert U.S. Dollars to Philippine Pesos

There are two ways to calculate approximately how many Philippine pesos you can get for your dollar: You can either use a conversion calculator or convert it by hand. Here’s a closer look at each method.

1. Use a Currency Calculator

Using a currency conversion calculator is a great way to estimate how much money you’ll have to spend on your trip. Since exchange rates change often, using a calculator will help ensure that your conversion is correct.

Keep in mind that exchanging currency typically comes with fees that won’t be factored in by a calculator. For example, most credit card processors and ATM networks charge a 1% conversion fee on all foriegn transactions. Individual merchants may also pass along their own fees if you ask them to convert a price into your home currency at the cash register.

2. Calculate It Manually

The other option is to calculate the conversion manually. However, before you can get started, you need to know the current exchange rate. At the time of writing, $1 USD is equivalent to ₱ 54.92 PHP.

Manual Currency Conversion Example

Say that you have $500 USD and you want to know how much money you would have for a trip to the Philippines. In that case, your conversion equation would look something like this:

$500 USD x 54.92 = ₱ 27,460 PHP

How to Buy Philippine Pesos

Exchange at a bank or credit union before your trip: Exchanging money at your local banking center before your trip is likely the most cost-effective way to get the money you need. Since you have an existing relationship with the bank, it’s more likely to give you the best exchange rates. Still, some fees may apply. For example, TD Bank charges its customers $7.50 for each currency conversion transaction.

Order currency online: If you can’t order online through your bank, you can also have currency delivered to your door by third-party providers like Currency Exchange International (CXI). Just be sure to do your research and to keep an eye out for high fees. While CXI doesn’t charge any exchange fees, it will charge you up to $30 for overnight shipping,

Use your bank’s ATM abroad for withdrawals where possible: If you have to exchange more money while abroad, your best bet is to find an ATM in your home bank’s network, as that can help you save on fees. For example, Citibank and HSBC have ATMs in the Philippines. Most banking apps have an “ATM locator” feature that can help you find the closest option.

Look for SM Mall department stores: This popular department store chain in the Philippines has a currency exchange counter inside. However, exchange rates may vary by store. SM Mall suggests calling customer service at (02)8811-0000 beforehand to confirm rates at nearby locations.

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What to Avoid

  • Currency exchange at the airport: While waiting to exchange currency at the airport may be convenient, it’s often a costly decision. Currency exchange kiosks often offer some of the worst exchange rates while charging the highest fees.

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USD To PHP: Convert United States Dollar to Philippine Peso - Forbes Advisor (2024)

FAQs

What is the best exchange rate for USD to PHP? ›

1 USD = 56.72 PHP - Today's Best US Dollar to Philippine Peso Exchange Rates.

What is the prediction for the US dollar to the Philippine Peso? ›

The USD to PHP forecast for today is currently predicting the USD/PHP exchange rate to rise to ₱ 57.76 in the next 24 hours, representing a 0.27% increase.

What is the dollar to ph peso forecast for 2024? ›

The year 2024 is projected to start with a slight increase in the exchange rate, eventually climbing to around ₱ 59.54 - ₱ 61.96 by the year's end. In 2025, US Dollar will continue strengthening against Philippine Peso, potentially reaching ₱ 64.02.

How much is $1 US in Philippine pesos today? ›

57.19 PHP

What is the best time to exchange dollars to Philippine pesos? ›

More specifically, the best time to trade USD/PHP is between 12:00 and 15:00 GMT when the market is most liquid. Weekends tend to see higher USD value because foreign currency cash flows slow down. So, it may be a good idea to convert US dollars to pesos on weekends or whenever the former is stronger.

Where is the best place to convert dollars to dollars in the Philippines? ›

Exchange at a bank or credit union before your trip: Exchanging money at your local banking center before your trip is likely the most cost-effective way to get the money you need. Since you have an existing relationship with the bank, it's more likely to give you the best exchange rates.

What is the highest dollar rate in Philippine history? ›

The highest US dollar to Philippine pesos rate was on June 27, 2024 when 1 US dollar was worth 58.9231 Philippine peso.

What will happen to the Philippines if the dollar is higher? ›

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.

Is the peso going up or down? ›

US Dollar to Mexican Peso Exchange Rate is at a current level of 18.82, down from 19.11 the previous market day and up from 16.94 one year ago. This is a change of -1.51% from the previous market day and 11.12% from one year ago.

What is the USD exchange rate forecast for 2024? ›

2024, the USDCAD exchange rate is 1.37769 CAD per 1 USD. Many analysts project that the USDCAD's bullish rally, which started in December 2023, will continue in 2024. Most experts expect the asset price to remain between 1.4200 and 1.4420. A conservative forecast suggests moderate growth to 1.3900-1.3990.

How much is the peso to the dollar in july 8 2024? ›

US DOLLAR EXCHANGE RATE (July 08, 2024) USD 1.00 = PHP 58.53 ⠀⠀⠀⠀ ⠀⠀⠀⠀ 𝘕𝘰𝘵𝘦: 𝘛𝘩𝘦 𝘗𝘩𝘪𝘭𝘪𝘱𝘱𝘪𝘯𝘦 𝘗𝘦𝘴𝘰-𝘜𝘚 𝘋𝘰𝘭𝘭𝘢𝘳 𝘊𝘰𝘯𝘷𝘦𝘳𝘴𝘪𝘰𝘯 𝘙𝘢𝘵𝘦 𝘪𝘴 𝘱𝘰𝘴𝘵𝘦𝘥 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘳𝘦𝘧𝘦𝘳𝘦𝘯𝘤𝘦 𝘰𝘧 𝘵𝘩𝘰𝘴𝘦 𝘸𝘩𝘰 𝘸𝘪𝘭𝘭 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘗𝘙𝘈 𝘥𝘶𝘳𝘪𝘯𝘨 𝘵𝘩𝘦 𝘳𝘦𝘴𝘱𝘦𝘤𝘵𝘪𝘷𝘦 𝘥𝘢𝘵𝘦 𝘪𝘯𝘥𝘪𝘤𝘢𝘵𝘦𝘥. 𝘐𝘵 𝘪𝘴 𝘣𝘢𝘴𝘦𝘥 𝘰𝘯 𝘵𝘩𝘦 𝘳𝘢𝘵𝘦 𝘴𝘦𝘵 𝘣𝘺 𝘵𝘩𝘦 𝘉𝘢𝘯𝘬𝘦𝘳𝘴 𝘈𝘴𝘴𝘰𝘤𝘪𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘵𝘩𝘦 𝘗𝘩𝘪𝘭𝘪𝘱𝘱𝘪𝘯𝘦𝘴.

What is the projection for the dollar? ›

The United States Dollar is expected to trade at 103.18 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 104.90 in 12 months time.

What is the dollar to peso prediction for the Philippines? ›

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.

What is the best dollar to peso exchange rate today? ›

Live rate: 1 USD = 18.8719 MXN ( -2.15% )

What is the prediction for the dollar to the peso? ›

In five months the US Dollar-to-Mexican Peso exchange rate is forecast to trade at 17.7147 (Q4 2024), 7.89% lower compared to today's price. In eight months the expected rate is at 17.6891 (Q1 2025), 8.02% lower.

Where can I get the best exchange rate for dollars to pesos? ›

Contact a bank or credit union to make sure it has the currency or will accept foreign currency, and check what the fees are. Find exchange rates through your bank, credit union or websites such as xe.com. Check the bank's exchange rate to make sure it's fair. Arrange for pickup or delivery.

Which bank has the best exchange rate in the Philippines? ›

PNB buys and sells foreign currencies against the PHP or other foreign currencies. Its good working relationships with other banks allow it to purchase and sell large volumes of currencies at market prices. As such, PNB is able to offer its clients one of the best exchange rates in the Philippines.

What is the best exchange rate for PHP? ›

Best Philippine peso exchange rate
Exchange rate(1 GBP → PHP)Transfer feeRecipient getsSending 1,000 GBP
73.16880.00 GBP73,168.79 PHP-265.55 PHP
73.78519.96 GBP73,050.20 PHP-384.14 PHP
72.80930.00 GBP72,809.31 PHP-625.03 PHP
72.74650.00 GBP72,746.46 PHP-687.88 PHP
14 more rows

How much is selling USD to PHP today? ›

US Dollar to Philippine Peso conversion rate
USDPHP
100 USD5755.73 PHP
250 USD14495.08 PHP
500 USD28904.70 PHP
1000 USD57809.40 PHP
6 more rows

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