USD/PHP: what to know
The USD/PHP rate shows how much PHP you get for 1 USD. Right now, 1 USD buys 62.6659 PHP at the mid-market rate. In the other direction, 1 PHP is worth 0.0160 USD.
In the short term USD is driven mainly by Fed policy, US growth and global risk appetite, while PHP responds to overseas remittances and trade flows.
The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars. 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.