Exchange Rate Of Australian Dollar To Phil Peso
Introduction
The exchange rate of Australian Dollar (AUD) to Phil Peso (PHP) is a topic of interest for many people who are planning to travel to the Philippines or for those who are doing business between the two countries. The exchange rate is the value of one currency in terms of another currency. It fluctuates daily based on several economic factors such as inflation, interest rates, political stability, and trade balance.
Current Exchange Rate
As of August 2021, the exchange rate of Australian Dollar to Phil Peso is around 33.05 PHP. This means that one Australian Dollar is equivalent to 33.05 Philippine Peso. The exchange rate is updated daily and can be checked on various financial websites and apps.
Factors Affecting Exchange Rate
The exchange rate of Australian Dollar to Phil Peso is affected by several factors such as:
- Inflation: If a country has high inflation, the value of its currency decreases as the purchasing power of its citizens decreases. This leads to a decrease in demand for that currency and a decrease in its exchange rate.
- Interest Rates: If a country has high-interest rates, foreign investors will be attracted to invest in that country's economy, leading to an increase in demand for that country's currency and an increase in its exchange rate.
- Political Stability: If a country has political instability, foreign investors will be hesitant to invest in that country's economy, leading to a decrease in demand for that country's currency and a decrease in its exchange rate.
- Trade Balance: If a country has a trade surplus, meaning it exports more than it imports, there will be an increase in demand for that country's currency, leading to an increase in its exchange rate.
Impact on Travel and Business
The exchange rate of Australian Dollar to Phil Peso has a significant impact on travel and business between the two countries. For travelers, a favorable exchange rate means that they can get more Philippine Peso for their Australian Dollars, making their travel budget go further. For businesses, a favorable exchange rate means that they can import goods and services from the Philippines at a lower cost and export goods and services to the Philippines at a higher profit margin.
Historical Exchange Rates
The exchange rate of Australian Dollar to Phil Peso has fluctuated over time due to various economic factors. Here are some historical exchange rates:
- August 2016: 1 AUD = 34.47 PHP
- August 2017: 1 AUD = 38.96 PHP
- August 2018: 1 AUD = 38.67 PHP
- August 2019: 1 AUD = 33.45 PHP
- August 2020: 1 AUD = 30.24 PHP
Conclusion
The exchange rate of Australian Dollar to Phil Peso is an important topic to understand for travelers and businesses between the two countries. It is affected by several economic factors such as inflation, interest rates, political stability, and trade balance. The exchange rate fluctuates daily and can be checked on various financial websites and apps. A favorable exchange rate can have a significant impact on travel and business between the two countries.