Mid-market exchange rate
1 USD = PHP
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Compare USD-PHP exchange rates and fees before your next money transfer
Last updated 9 minutes ago See live results
| Sending 100 USD with | Your recipient gets | Exchange rate | Fees |
|---|---|---|---|
 | 5,662.63 PHP Check rates | WorldRemit USD to PHP rate: 1 USD = 56.6263 PHP | 0 USD |
| | 5,632.00 PHP Check rates | Remitly USD to PHP rate: 1 USD = 56.3200 PHP | 0 USD |
 | 5,618.61 PHP Check rates | Panda Remit USD to PHP rate: 1 USD = 56.1861 PHP | 0 USD |
 | 5,544.04 PHP Check rates | XE Money Transfer USD to PHP rate: 1 USD = 55.4404 PHP | 0 USD |
 | 5,516.56 PHP Check rates | Revolut USD to PHP rate: 1 USD = 55.5825 PHP | 1 USD |
 | 5,472.11 PHP Check rates | Wise USD to PHP rate: 1 USD = 55.7753 PHP | 2 USD |
 | 5,463.18 PHP Check rates | CurrencyFair USD to PHP rate: 1 USD = 55.4300 PHP | 1 USD |
 | 5,424.00 PHP Check rates | Sendwave USD to PHP rate: 1 USD = 54.2400 PHP | 0 USD |
 | 5,399.63 PHP Check rates | Paysend USD to PHP rate: 1 USD = 55.0926 PHP | 2 USD |
 | 5,393.22 PHP Check rates | Instarem USD to PHP rate: 1 USD = 53.9322 PHP | 0 USD |
 | 5,357.29 PHP Check rates | Xoom USD to PHP rate: 1 USD = 53.5729 PHP | 0 USD |
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Compare for a specific amount, different pay-in and pay-out options, and see transfer speed and Monito Scores on our dedicated comparison page.
How To Get the Highest Exchange Rate From US Dollar to Philippine Peso
The best way to take advantage of the currentmid-market exchange ratefrom USD to PHP is to use Monito's comparison engine, which searches for trusted international money transfer services that apply strong rates and low commission fees:
- Check the USD to PHPmid-market exchange rate;
- Use Monito to compare services with low fees and strong rates;
- Sign up for the service with the highest rates and lowest fees;
- Confirm your transfer to the Philippines.
Where To Get the Best Highest Exchange Rate From USD to PHP
Remitlyhas far and away provided the best, cheapest transfers for the Dollar to the Philippine peso from July 2021 to July 2022 on Monito.
While Wisehas been the second cheapest on average during this 12-month period, and Small Worldhas come in at third, neither come close to Remitly.
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or read our full review
Big US banks can send your US dollars to the Philippines, but they often applyweak exchange ratesand they charge high fees. International money transfer specialists almost always offer lower transfer fees and better exchange rates when sending money to the Philippines.
Western Union is incredibly expensive when compared to the top 3 providers for USD to PHP. In fact, Western Union did not even make the top 10 for providers who offer high dollar to peso exchange rates.
Conversion Rates USD/PHP
| 1 USD | 55.790021 PHP |
| 50 USD | 2,790 PHP |
| 100 USD | 5,579 PHP |
| 200 USD | 11,158 PHP |
| 500 USD | 27,895 PHP |
| 1,000 USD | 55,790 PHP |
| 3,500 USD | 195,265 PHP |
| 5,000 USD | 278,950 PHP |
| 10,000 USD | 557,900 PHP |
| 100,000 USD | 5,579,002 PHP |
Source XE.com | Last updated 2 hours ago
Conversion Rates PHP/USD
| 1 PHP | 0.017924 USD |
| 50 PHP | 0.896218 USD |
| 100 PHP | 1.792435 USD |
| 200 PHP | 3.58487 USD |
| 500 PHP | 8.962176 USD |
| 1,000 PHP | 17.924352 USD |
| 3,500 PHP | 62.735234 USD |
| 5,000 PHP | 89.621762 USD |
| 10,000 PHP | 179.243525 USD |
| 100,000 PHP | 1,792 USD |
Source XE.com | Last updated 2 hours ago
Key facts about USD and PHP
About the US dollar
- Name:
- US dollar
- Symbol:
- $
- Minor unit:
- 1/100 Cent
- Central Bank:
- Federal Reserve Bank
- Countries:
- Ecuador, Guam, Micronesia, Palau, Panama, Zimbabwe, United States, Congo (RDC), El Salvador, Virgin Islands, British, American Samoa, Marshall Islands, Puerto Rico
- Rank in the most traded currencies:
- #1
About the Philippine peso
- Name:
- Philippine peso
- Symbol:
- ₱
- Minor unit:
- 1/100 Sentimo
- Central Bank:
- Central Bank of the Philippines
- Country:
- Philippines
US dollars (USD) and Philippine pesos (PHP) exchange rates with other main currencies
| USD | PHP | EUR | GBP | CAD | INR | UYU | PKR | |
|---|---|---|---|---|---|---|---|---|
| 1 USD | 55.7900 | 0.9187 | 0.7842 | 1.3490 | 82.7248 | 39.0612 | 279.1737 | |
| 1 PHP | 0.017924 | 0.016467 | 0.014056 | 0.024180 | 1.4828 | 0.7001 | 5.0040 | |
| 1 EUR | 1.0885 | 60.7282 | 0.8536 | 1.4684 | 90.0471 | 42.5187 | 303.8843 | |
| 1 GBP | 1.2752 | 71.1457 | 1.1715 | 1.7203 | 105.4941 | 49.8125 | 356.0138 | |
| 1 CAD | 0.7413 | 41.3561 | 0.6810 | 0.5813 | 61.3224 | 28.9554 | 206.9462 | |
| 1 INR | 0.012088 | 0.6744 | 0.011105 | 0.009479 | 0.016307 | 0.4722 | 3.3747 | |
| 1 UYU | 0.025601 | 1.4283 | 0.023519 | 0.020075 | 0.034536 | 2.1178 | 7.1471 | |
| 1 PKR | 0.003582 | 0.1998 | 0.003291 | 0.002809 | 0.004832 | 0.2963 | 0.1399 |
Source XE.com | Last updated a few seconds ago
What Is an Exchange Rate?
An exchange rate is the rate at which one country's currency may be converted into another currency.
Bank dealers and traders buy and sell currency (such as USD and PHP) on the foreign exchange market, known as the interbank market. These kinds of transactions are being done by actors around the world every second of the day, which is why the mid-market exchange rate fluctuates up and down.
Why interbank traders buy and sell the way they do depends on a wide variety of complex factors. Some factors affecting currency exchange rates include inflation, federal interest rates, money printing, speculation, public debt, and a country's trade balance.
Beware of Exchange Rate Margins
What you need to know is that banks will not convert your dollars to pesos at the real mid-market exchange rate. Instead, they will ask for your US dollars at a weak rate and sell you Philippine pesos at an expensive rate.
This difference between the mid-market rate and the provider's proposed rate is known as anexchange rate margin. This is often the cost that international money transfer customers overlook the most.
Convert US Dollars to Philippine Pesos
Online money transfer specialists have used technology and their financial leverage to access better exchange rates. As a result, they can potentially save you significant amounts of money when you transfer your US dollars to the Philippine peso.
Exchange rates fluctuate all the time. But you can save the headache of searching for a provider, and save money, by comparing money transfer providers in real time withMonito's comparison engine:
Find Today's Highest Dollar to Peso Exchange Rate:
Frequently Asked Questions About the Best USD to PHP Exchange Rate
Where is the best place to exchange PHP to USD?
In 2022, the best place to exchange USD to PHP was Remitly. Other online money transfer specialists, such as Small World, Wise, Instarem, and many others, are good alternatives too.
Monito experts highly discourage customers from using banks, credit unions, or airport kiosks for currency exchange.
What is the highest USD exchange rate in PHP history?
Highest: 56.447 PHP on 21 July 2022
The strongest the US dollar was against the Philippine peso in the past 10 years between 2012 and 2022 was on July 21st, 2022 when 1 dollar was equivalent to about 56.45 pesos.
What is the best remittance in rate to the Philippines?
The best remittance rate will be the closest one to the mid-market exchange rate. Use Monito's comparison engine to find services with the highest USD to PHP exchange rate to save you money on your remittance.
Which bank is best for USD exchange rate?
Banks exchange your currency at weak rates, meaning that you will lose money on a heftyexchange rate margin.
WithMonito's real-time comparison engine, compare international money transfer services, which show their transparent rates up front and charge much less than traditional provider.
Where can I exchange USD to PHP?
You can exchange USD to PHP with international money transfer services, which Monito highly recommends because they are secure, cheap, fast, and have dedicated customer support.
You may also exchange USD to PHP with banks, credit unions, airport kiosks, and traditional providers like Western Union, but we generally do not recommend these methods due to issues with cost, speed, transparency, and customer satisfaction.
Can you convert USD to PHP in PayPal?
Yes, you can. However, Monito highly discourages using PayPal as a money exchange service because they are one of the worst in terms of price and transparency. Read our review on PayPal for more information and much better alternatives.
Why is USD to PHP low?
One primary reasons is because the United States has been historically more economically stable than the Philippines, which gives financiers more confidence in the strength of the US dollar than the Philippine peso.
In addition, when financiers speculate economic downturn, many store their assets in US dollars because it is considered a safe and stable currency. Domestic monetary policy also has a role to play. When the US Federal Reserve increases interest rates, with the goal of taming inflation, it often increases the strength of the dollar respective to other foreign currencies. These are just a few of many complex reasons
How do I exchange USD to PHP?
- Check the USD to PHPmid-market exchange rate;
- Use Monito to compare services with low fees and strong rates;
- Sign up for the service with the highest rates and lowest fees;
- Confirm your transfer to the Philippines.
