TRY/PHP: what to know
The TRY/PHP rate shows how much PHP you get for 1 TRY. Right now, 1 TRY buys 1.3000 PHP at the mid-market rate. In the other direction, 1 PHP is worth 0.7692 TRY.
In the short term TRY is driven mainly by high inflation and central-bank policy, while PHP responds to overseas remittances and trade flows.
The Turkish Lira (TRY) is issued by Central Bank of Türkiye. In 2005 Türkiye removed six zeros: 1,000,000 old lira became 1 new lira. 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.
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.