Current Rate Of Canadian Dollar To Philippine Peso
Introduction
The Canadian dollar is the official currency of Canada while the Philippine peso is the official currency of the Philippines. The exchange rate between the two currencies plays an important role in international trade and investment. In this article, we will discuss the current rate of Canadian dollar to Philippine peso.
Factors Affecting Exchange Rate
The exchange rate between Canadian dollar and Philippine peso is influenced by several factors such as inflation, interest rates, economic growth, political stability, and international trade. For example, if the Canadian economy is growing at a faster rate than the Philippines' economy, then the Canadian dollar will appreciate against the Philippine peso.
Current Exchange Rate
As of August 2021, the current exchange rate between Canadian dollar and Philippine peso is 1 CAD = 38.03 PHP. This means that one Canadian dollar can be exchanged for 38.03 Philippine pesos. The exchange rate is constantly changing depending on the market conditions and economic factors.
Historical Exchange Rate
The exchange rate between Canadian dollar and Philippine peso has been fluctuating over the years. In 2016, the exchange rate was 1 CAD = 33.45 PHP. In 2017, it increased to 1 CAD = 37.25 PHP. In 2018, it reached its highest point at 1 CAD = 40.24 PHP. In 2019, it decreased to 1 CAD = 36.68 PHP. In 2020, it further decreased to 1 CAD = 34.58 PHP. As of August 2021, the exchange rate has increased to 1 CAD = 38.03 PHP.
Impact on Trade and Investment
The exchange rate between Canadian dollar and Philippine peso has a significant impact on trade and investment between the two countries. If the Canadian dollar is strong against the Philippine peso, then Canadian goods and services will be more expensive for Philippine consumers. This may lead to a decrease in demand for Canadian products in the Philippines. On the other hand, if the Philippine peso is strong against the Canadian dollar, then Philippine goods and services will be more affordable for Canadian consumers. This may lead to an increase in demand for Philippine products in Canada.
Conclusion
The exchange rate between Canadian dollar and Philippine peso is an important factor in international trade and investment. The current exchange rate as of August 2021 is 1 CAD = 38.03 PHP. However, the exchange rate is constantly changing depending on the market conditions and economic factors. It is important for businesses and investors to keep track of the exchange rate to make informed decisions.