PHP/CNY: what to know
The PHP/CNY rate shows how much CNY you get for 1 PHP. Right now, 1 PHP buys 0.1070 CNY at the mid-market rate. In the other direction, 1 CNY is worth 9.3415 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while CNY responds to PBoC decisions and Chinese growth.
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. The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen.
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.