What is the currency of the Philippines and its exchange rate?
The official currency of the Philippines is the Philippine peso (₱, PHP), divided into 100 centavos. Indicative exchange rates are approximately 1 € = 68 PHP and 1 $ = 57.62 PHP, though rates vary depending on currency exchange offices.
The Philippine peso: national currency
The Philippine peso (symbol ₱, ISO code PHP) is the official currency of the Philippines. It is divided into 100 centavos and remains the main currency for all local transactions.
Indicative exchange rates
- Euro : 1 € ≈ 68 PHP
- US Dollar : 1 $ ≈ 57.62 PHP
These rates fluctuate daily according to financial markets and vary depending on the exchange offices or banks consulted.
Practical payment methods
Although some tourist locations accept US dollars, the majority of shops only take pesos. Bank cards work mainly in hotels and large restaurants.
To remember
Always keep pesos in cash for small shops, local transport (jeepneys, tricycles) and markets. ATMs are widely available in major cities.