MYR/PHP: what to know
The MYR/PHP rate shows how much PHP you get for 1 MYR. Right now, 1 MYR buys 15.3959 PHP at the mid-market rate. In the other direction, 1 PHP is worth 0.0650 MYR.
In the short term MYR is driven mainly by commodity prices and regional demand, while PHP responds to overseas remittances and trade flows.
The Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars. 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.