ISK/PHP: what to know
The ISK/PHP rate shows how much PHP you get for 1 ISK. Right now, 1 ISK buys 0.5212 PHP at the mid-market rate. In the other direction, 1 PHP is worth 1.9186 ISK.
In the short term ISK is driven mainly by tourism, fishing and commodity prices, while PHP responds to overseas remittances and trade flows.
The Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate. 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.