MXN/PHP: what to know
The MXN/PHP rate shows how much PHP you get for 1 MXN. Right now, 1 MXN buys 3.6925 PHP at the mid-market rate. In the other direction, 1 PHP is worth 0.2708 MXN.
In the short term MXN is driven mainly by the US economy and capital flows, while PHP responds to overseas remittances and trade flows.
The Mexican Peso (MXN) is issued by Bank of Mexico. The Spanish-colonial peso and its “$” sign influenced the US dollar symbol. 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.