How to read USD to PHP
USD to PHP is the number of PHP (Philippine Peso) that 1 USD (US Dollar) buys.
The European Central Bank publishes its reference rates against the euro, so USD to PHP is a cross rate, derived from the two published figures for USD and PHP. The rate for this pair is (PHP per EUR) ÷ (USD per EUR).
Who converts USD to PHP
The Philippines receives a large flow of money from Filipinos working overseas, and a big share of it is sent in US dollars. Families use the dollar to peso rate to judge how much a transfer will cover, from rent and groceries to school fees. The pair is also useful for call centre and freelance workers paid in dollars, for tourists planning a visit and for online sellers who price goods in dollars but pay costs in pesos.
Facts about this pair
- USD is ISO 4217 code 840 and PHP is code 608; the three letter codes are what the converter and the ECB use to tell currencies apart.
- Both currencies are written with 2 decimal places in ISO 4217, so a result in PHP is rounded to 2 decimal places.
- The reverse pair is the reciprocal: the PHP to USD rate is 1 divided by the USD to PHP rate, apart from rounding.
The US Dollar and the Philippine Peso
| Detail | US Dollar | Philippine Peso |
|---|---|---|
| ISO code | USD | PHP |
| Symbol | $ | ₱ |
| Central bank | The Federal Reserve System | The Bangko Sentral ng Pilipinas |
| Minor unit | cent, 1/100 of the main unit | centavo (also called sentimo), 1/100 of the main unit |
| Used in | The United States and its territories, and it is official or widely used in some other economies such as Ecuador and El Salvador | The Philippines |
It is the most widely held reserve currency, and many commodities, including crude oil, are priced in it. Money sent home by Filipinos working abroad is a major source of foreign currency for the country.
Getting a fair rate on USD to PHP
Remittance companies often advertise zero fees but build their earnings into the rate. Convert the same amount on this page, then compare it with the peso amount the provider quotes for the recipient. The gap between the two is your real cost. Cash pickup, bank deposit and e-wallet delivery can all use different rates.
When sending pesos for a fixed bill such as tuition or a loan payment, start from the peso amount due and divide by the rate to see the dollars needed, then add the provider's fee. Some services let you lock a rate for a short time before the money is sent, which helps when the due date is close. Pay attention to the cut-off times for same-day delivery in the Philippines, which are set by the receiving bank or wallet.
The code for the Philippine peso is PHP, and the symbol is a P with two bars. Some price tags simply show P or the dollar sign, so do not rely on the symbol alone when comparing quotes.
Where the rate comes from
The rate loads in your browser from Frankfurter, which republishes European Central Bank reference rates. They are published on working days for information only, and a bank is not obliged to deal at them. If the service cannot be reached the page shows no number, except a rate saved in your browser within six hours, marked as cached. How the rates work is explained on the currency pairs page. Nothing here is financial advice.
FAQ
How many pesos do I get for one US dollar?
The figure shown in the converter above, taken from the latest European Central Bank reference rate and dated on the page. It changes with each publication, so this page does not print a fixed number.
Why is the rate my remittance service gives lower than this page?
This page shows a mid-market reference rate with no margin. Remittance services usually add a margin to the rate, charge a fee, or both, which lowers the pesos delivered.
Does the rate change when the sender and receiver are in different time zones?
The reference rate is published once per working day, so it is the same for everyone that day. Your provider may update its own rate more often during the day.
Can I use this for peso to dollar conversions?
Yes. Swap the currencies with the button above and enter the peso amount. The result is in US dollars at the same reference rate.
More currency pairs
Other pairs on this site, each with its own latest rate and notes:
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- USD to CAD: another way to spend USD.
- USD to MXN: another way to spend USD.
- USD to AUD: another way to spend USD.
- USD to KRW: another way to spend USD.
- USD to EUR: another way to spend USD.
- USD to GBP: another way to spend USD.
- USD to BRL: another way to spend USD.
- All currency pairs: the full list.
- Currency converter: choose any two of the supported currencies.