About this pair
PHP/KRW: what to know
The PHP/KRW rate shows how much KRW you get for 1 PHP. Right now, 1 PHP buys 21.4086 KRW at the mid-market rate. In the other direction, 1 KRW is worth 0.0467 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while KRW responds to tech exports and global risk appetite.
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 South Korean Won (KRW) is issued by Bank of Korea. “Won” shares a root with yen and yuan, meaning “round”.
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.