USD–PHP Reference Guide
The USD–PHP exchange rate refers to the value of the United States Dollar (USD) compared to the Philippine Peso (PHP). It shows how many Philippine Pesos are needed to buy one US Dollar and is widely used in trade, remittances, travel, and international transactions.
Understanding the USD–PHP rate is important for individuals and businesses in the Philippines, especially those involved in imports, exports, overseas employment, freelancing, investments, and foreign currency savings.
What Is USD–PHP?
USD–PHP is a currency pair that represents the exchange relationship between the US Dollar and the Philippine Peso. For example, if the exchange rate is 56.00, it means that 1 USD is equal to 56 PHP.
This rate can change daily due to market conditions, economic data, and global events. Banks, money changers, and online platforms may offer slightly different rates depending on fees and demand.
Common Uses of the USD–PHP Exchange Rate
- Sending and receiving remittances from abroad
- Freelance and online work payments in USD
- Importing and exporting goods and services
- Travel expenses and foreign currency exchange
- International investments and savings
Factors That Affect the USD–PHP Rate
Several economic and global factors influence the movement of the USD–PHP exchange rate. Understanding these factors helps explain why the peso strengthens or weakens against the dollar.
- Interest rates set by the US Federal Reserve and Bangko Sentral ng Pilipinas
- Inflation rates in the United States