About this pair
PHP/MXN: what to know
The PHP/MXN rate shows how much MXN you get for 1 PHP. Right now, 1 PHP buys 0.2708 MXN at the mid-market rate. In the other direction, 1 MXN is worth 3.6925 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while MXN responds to the US economy 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 Mexican Peso (MXN) is issued by Bank of Mexico. The Spanish-colonial peso and its “$” sign influenced the US dollar symbol.
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.