EUR/PHP: what to know
The EUR/PHP rate shows how much PHP you get for 1 EUR. Right now, 1 EUR buys 70.6342 PHP at the mid-market rate. In the other direction, 1 PHP is worth 0.0142 EUR.
In the short term EUR is driven mainly by ECB policy and eurozone growth, while PHP responds to overseas remittances and trade flows.
The Euro (EUR) is issued by European Central Bank (ECB). The euro is the world’s second most-traded currency, after the US dollar. The Philippine Peso (PHP) is issued by Bangko Sentral ng Pilipinas. The Philippines is the only Asian country with a currency called the “peso” — a legacy of Spanish rule.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.