PHP/ISK: what to know
The PHP/ISK rate shows how much ISK you get for 1 PHP. Right now, 1 PHP buys 1.9186 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.5212 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while ISK responds to tourism, fishing and commodity prices.
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 Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate.
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.