US Dollar to Philippine Peso Converter
$
₱
* Enter the current market rate or remittance center rate.
Total Amount in PHP
₱0.00
Understanding the USD to PHP Exchange Rate
The exchange rate between the United States Dollar (USD) and the Philippine Peso (PHP) is a critical economic indicator that affects millions of people, particularly Overseas Filipino Workers (OFWs), freelancers, and businesses engaged in international trade. The rate fluctuates daily based on global economic conditions, interest rates set by the Federal Reserve and Bangko Sentral ng Pilipinas (BSP), and market demand.
How to Use This Calculator
This tool is designed to provide a quick estimation of how much Philippine Peso you will receive for a specific amount of US Dollars. Here is how to use it effectively:
- Amount to Convert: Enter the total amount of US Dollars you intend to send or exchange.
- Current Exchange Rate: Input the rate offered by your bank or remittance center. Rates can vary significantly between providers (e.g., Western Union vs. Wise vs. local banks).
Factors That Influence the Exchange Rate
Several key factors cause the value of the Peso to rise or fall against the Dollar:
- Inflation Rates: Generally, a country with a consistently lower inflation rate exhibits a rising currency value, as its purchasing power increases relative to other currencies.
- Interest Rates: Higher interest rates offer lenders in an economy a higher return relative to other countries. Therefore, higher interest rates attract foreign capital and cause the exchange rate to rise.
- Current Account Deficits: If the Philippines is spending more on foreign trade than it is earning, it borrows capital from foreign sources to make up the deficit, which can lower the currency's value.
- Remittance Inflows: The Philippines relies heavily on remittances. High volumes of dollars sent home during holiday seasons (like Christmas) can temporarily strengthen the Peso due to an oversupply of dollars in the local market.
Bank Rates vs. Remittance Center Rates
When converting money, it is important to understand the difference between the "Mid-Market Rate" (the real exchange rate seen on Google) and the "Retail Rate" (the rate consumers actually get).
| Provider Type | Typical Rate Offer | Pros & Cons |
|---|---|---|
| Mid-Market (Interbank) | Highest Value (e.g., 56.50) | Usually only available to large banks trading millions. Reference point only. |
| Online Money Transfer | High Value (e.g., 56.20) | Low fees and competitive rates. Best for freelancers and OFWs. |
| Traditional Banks | Medium Value (e.g., 55.90) | Secure but often have hidden markups in the exchange rate. |
| Airport Kiosks | Lowest Value (e.g., 53.00) | Convenient for travel cash but offer the worst value due to high overhead. |
Optimizing Your Remittances
To get the most out of your hard-earned money, compare rates before sending. Even a small difference of 0.50 PHP per dollar can add up to thousands of pesos when transferring large sums. Always check the total cost, which includes both the transfer fee and the exchange rate markup.