Ria Exchange Rate Australian Dollar To Philippine Peso
Introduction
Ria Money Transfer is one of the leading global money transfer companies that offer fast and secure international money transfer services. Ria exchange rate Australian dollar to Philippine peso is one of the most popular currency pairs that people frequently use to send money to the Philippines. In this article, we will discuss the current exchange rate of AUD to PHP and how it affects the remittance industry.
What is Ria Exchange Rate?
Ria exchange rate is the rate at which Ria Money Transfer converts one currency into another. The exchange rate varies depending on the currency pair and the prevailing market conditions. In the case of AUD to PHP, the exchange rate determines how much money the recipient in the Philippines will receive in Philippine pesos.
Current Exchange Rate of AUD to PHP
As of August 2021, the current exchange rate of AUD to PHP is around 35.32 Philippine pesos for every Australian dollar. This means that if you send $1000 AUD to the Philippines, the recipient will receive around ₱35,320 PHP.
Factors Affecting the Exchange Rate of AUD to PHP
The exchange rate of AUD to PHP is affected by various factors such as:
1. Economic conditions of Australia and the Philippines
2. Political stability and government policies
3. Interest rates of the central banks
4. Inflation rates
5. Foreign exchange reserves
These factors influence the supply and demand of the currencies and can cause fluctuations in the exchange rate.
Impact of Exchange Rate on Remittance Industry
The exchange rate of AUD to PHP has a significant impact on the remittance industry, which is one of the most critical sectors for the Philippine economy. The remittance industry contributes to more than 10% of the country's GDP and is a major source of income for millions of Filipino families.When the exchange rate of AUD to PHP is high, it means that the recipient in the Philippines will receive more Philippine pesos for every Australian dollar. This is beneficial for the recipient as they can get more value for their money. However, it can also affect the remittance industry as it becomes expensive for the sender to send money to the Philippines.On the other hand, when the exchange rate of AUD to PHP is low, it means that the recipient in the Philippines will receive fewer Philippine pesos for every Australian dollar. This is not beneficial for the recipient as they get less value for their money. However, it can be advantageous for the remittance industry as it becomes cheaper for the sender to send money to the Philippines.
Conclusion
Ria exchange rate Australian dollar to Philippine peso is an important currency pair that affects the remittance industry. The current exchange rate of AUD to PHP is around 35.32 Philippine pesos for every Australian dollar. The exchange rate is influenced by various factors such as economic conditions, political stability, and interest rates. The exchange rate can have a significant impact on the remittance industry, which is a critical sector for the Philippine economy.
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