PHP/EUR: what to know
The PHP/EUR rate shows how much EUR you get for 1 PHP. Right now, 1 PHP buys 0.0141 EUR at the mid-market rate. In the other direction, 1 EUR is worth 70.7051 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while EUR responds to ECB policy and eurozone 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 Euro (EUR) is issued by European Central Bank (ECB). The euro is the world’s second most-traded currency, after the US dollar.
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.