Exchange Rate Canadian Dollar To Philippine Peso Western Union
Introduction
If you're someone who frequently sends money from Canada to the Philippines or vice versa, knowing the exchange rate between Canadian Dollar (CAD) and Philippine Peso (PHP) is vital. In this article, we'll discuss the current exchange rate for CAD to PHP via Western Union and how to calculate it.
Current Exchange Rate
As of writing this article, the current exchange rate for CAD to PHP via Western Union is 1 CAD = 37.77 PHP. This rate is updated regularly and subject to change depending on the market conditions.
How To Calculate The Exchange Rate
To calculate the exchange rate between CAD to PHP, you can use the following formula:Exchange rate = Amount in CAD ÷ Amount in PHPFor example, if you want to send CAD 500 to someone in the Philippines, you can calculate the equivalent amount in PHP using the above formula:Exchange rate = 500 ÷ 37.77Exchange rate = 13,238.93 PHPSo, the recipient in the Philippines will receive approximately PHP 13,238.93.
Western Union Fees
When you send money via Western Union, there will be fees involved. The fees depend on the amount you're sending, the destination country, and the payment method. You can check the fees on the Western Union website before sending money.
Factors That Affect The Exchange Rate
The exchange rate between CAD to PHP is influenced by various factors such as economic and political conditions in both countries, the demand for each currency, and the supply of each currency. For instance, if the demand for CAD in the Philippines increases, the exchange rate for CAD to PHP may go up.
How To Get The Best Exchange Rate
To get the best exchange rate when sending money from CAD to PHP via Western Union, you can follow these tips:- Compare exchange rates from different providers and choose the one with the best rate.- Avoid sending money during peak hours when the exchange rate may be higher.- Consider using a money transfer service that offers low fees and competitive exchange rates.
Conclusion
Knowing the exchange rate between CAD to PHP is essential if you frequently send money between Canada and the Philippines. By using Western Union, you can easily and quickly transfer money, but you should also consider the fees involved and the current exchange rate. By following the tips mentioned in this article, you can get the best exchange rate and save money on your transfers.
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