Canadian Dollar Rate To Philippine Peso Western Union
Introduction
Are you planning to send money from Canada to the Philippines through Western Union? One of the most important factors to consider is the current Canadian dollar rate to Philippine peso. In this article, we will discuss the current rate and other important details you need to know before making a transaction.
Understanding the Exchange Rate
The exchange rate is the value of one currency in relation to another. In this case, we are talking about the Canadian dollar and the Philippine peso. The rate can vary depending on several factors such as economic performance, political stability, and market demand.
Current Canadian Dollar Rate to Philippine Peso
As of September 2021, the current Canadian dollar rate to Philippine peso is around CAD 1 = PHP 37. This rate is subject to change depending on the aforementioned factors. It is important to check the rate before making a transaction to ensure that you get the best value for your money.
How to Check the Exchange Rate
There are several ways to check the exchange rate. One way is to visit the official website of Western Union. They provide a currency converter tool that can give you an estimate of the amount you will receive in Philippine peso based on the current rate.
Another way is to use online currency exchange rate calculators such as XE or Oanda. These websites provide real-time exchange rates that can help you make informed decisions.
Factors Affecting the Exchange Rate
As mentioned earlier, the exchange rate can be influenced by several factors. Here are some of them:
- Economic Performance - The state of the economy can affect the exchange rate. If a country is performing well, its currency may appreciate in value.
- Political Stability - Political instability can lead to a decrease in demand for a country's currency, which can cause its value to drop.
- Market Demand - The supply and demand of a currency can also affect its value. If there is a high demand for a currency, its value may increase.
How to Send Money Through Western Union
Now that you know the current Canadian dollar rate to Philippine peso and other important details, you may be wondering how to send money through Western Union. Here's a step-by-step guide:
- Visit a Western Union agent location or their website.
- Provide the necessary information such as your name, recipient's name, and the amount you want to send.
- Choose the method of payment - you can pay through your bank account, credit card, or debit card.
- Western Union will provide you with a Money Transfer Control Number (MTCN) which you will give to the recipient.
- The recipient can then go to a Western Union agent location in the Philippines to receive the money.
Conclusion
Sending money from Canada to the Philippines through Western Union is a convenient and reliable way to transfer funds. However, it is important to consider the current Canadian dollar rate to Philippine peso to ensure that you get the best value for your money. By following the steps and tips discussed in this article, you can make informed decisions and have a smooth transaction.
