PHP/ILS: what to know
The PHP/ILS rate shows how much ILS you get for 1 PHP. Right now, 1 PHP buys 0.0484 ILS at the mid-market rate. In the other direction, 1 ILS is worth 20.6743 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while ILS responds to the tech sector and geopolitics.
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 Israeli Shekel (ILS) is issued by Bank of Israel. “Shekel” is one of the oldest names for a unit of money — mentioned in the Bible.
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.