1 Dollar To Philippine Peso Xoom Exchange Rate Us
Are you planning to travel to the Philippines or send money to your loved ones there? It's essential to keep track of the exchange rate between the US dollar and the Philippine peso. As of today, the exchange rate for 1 US dollar to Philippine peso on Xoom is currently at 49.90 pesos.
Xoom is a digital money transfer service that allows you to send money online to the Philippines and other countries. It's a fast, safe, and convenient way to send money to your loved ones abroad. With Xoom, you can track your money transfer and receive updates on its status via email or text message.
Factors Affecting Exchange Rates
Exchange rates fluctuate frequently due to various factors such as market demand, political stability, economic performance, and inflation rates. The US dollar is considered a dominant currency in the global market, and its value affects the exchange rates of other currencies, including the Philippine peso.
When the US economy is strong, and the demand for US dollars increases, the value of the dollar rises, and the exchange rate for other currencies, including the Philippine peso, decreases. On the other hand, when the US economy is weak, and the demand for US dollars decreases, the value of the dollar falls, and the exchange rate for other currencies, including the Philippine peso, increases.
How to Check Exchange Rates on Xoom
Xoom provides a user-friendly platform that allows you to check the exchange rate for the US dollar and the Philippine peso and other currencies. You can access Xoom's website or use the Xoom mobile app to check the exchange rate.
To check the exchange rate on Xoom, follow these simple steps:
- Go to Xoom's website or open the Xoom mobile app
- Select the country you want to send money to (Philippines)
- Select the payout method (cash pickup or bank deposit)
- Enter the amount you want to send
- Check the exchange rate displayed on the screen
Ways to Get the Best Exchange Rate on Xoom
Getting the best exchange rate on Xoom can save you money on transfer fees and currency conversion. Here are some ways to get the best exchange rate on Xoom:
- Choose the payout method that offers the best exchange rate (bank deposit usually has a better rate than cash pickup)
- Send money during non-peak hours when the demand for US dollars is low
- Check the exchange rate regularly and send money when the rate is favorable
- Use Xoom's locked-in exchange rate feature to secure the rate for up to two days
Conclusion
The exchange rate between the US dollar and the Philippine peso is subject to fluctuation due to various factors such as market demand, economic performance, and inflation rates. Xoom is a digital money transfer service that offers a fast, safe, and convenient way to send money to the Philippines and other countries. By checking the exchange rate regularly and following the tips mentioned above, you can get the best exchange rate on Xoom and save money on transfer fees and currency conversion.