PHP/IDR: what to know
The PHP/IDR rate shows how much IDR you get for 1 PHP. Right now, 1 PHP buys 279.9588 IDR at the mid-market rate. In the other direction, 1 IDR is worth 0.00357195 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while IDR responds to commodity prices and capital flows.
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 Indonesian Rupiah (IDR) is issued by Bank Indonesia. The rupiah has some of the world’s highest denominations — notes go up to 100,000.
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.