IDR/PHP: what to know
The IDR/PHP rate shows how much PHP you get for 1 IDR. Right now, 1 IDR buys 0.00357195 PHP at the mid-market rate. In the other direction, 1 PHP is worth 279.9588 IDR.
In the short term IDR is driven mainly by commodity prices and capital flows, while PHP responds to overseas remittances and trade flows.
The Indonesian Rupiah (IDR) is issued by Bank Indonesia. The rupiah has some of the world’s highest denominations — notes go up to 100,000. 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.