Exchange Rate Canadian Dollar To Philippine Peso History
The Canadian Dollar (CAD) is one of the world's top reserve currencies, and the Philippine Peso (PHP) is the official currency of the Philippines. Over the years, the exchange rate between the two currencies has seen significant fluctuations due to various economic and political factors. In this article, we will take a look at the exchange rate history of the Canadian Dollar to Philippine Peso.
1990-1999
In 1990, the CAD to PHP exchange rate was around 15.50 PHP. The rate remained relatively stable until 1997, when the Asian financial crisis hit the Philippines. The crisis caused the PHP to depreciate against major currencies, including the CAD. By the end of 1999, the CAD to PHP exchange rate had risen to around 34 PHP.
2000-2009
The start of the new millennium saw the CAD to PHP exchange rate at around 33 PHP. The rate remained relatively stable until the global financial crisis of 2008, which caused the CAD to depreciate against many currencies, including the PHP. By the end of 2009, the CAD to PHP exchange rate had fallen to around 36 PHP.
2010-2019
The CAD to PHP exchange rate at the start of the decade was around 38 PHP. The rate remained relatively stable until the end of 2012, when it started to rise steadily. By mid-2013, the CAD to PHP exchange rate had reached 43 PHP. The rate remained relatively stable until the end of 2015, when it started to fall again. By the end of 2019, the CAD to PHP exchange rate had fallen to around 38 PHP.
2020-Present
The start of 2020 saw the CAD to PHP exchange rate at around 38 PHP. However, the COVID-19 pandemic caused major disruptions to the global economy, including the Canadian and Philippine economies. As a result, the CAD to PHP exchange rate fell to around 34 PHP by mid-2020. The rate remained relatively stable until the end of 2020, when it started to rise again. By the end of 2021, the CAD to PHP exchange rate had risen to around 41 PHP.
Factors Affecting the CAD to PHP Exchange Rate
The exchange rate between the CAD and PHP is affected by various economic and political factors. Some of the major factors include:
- Interest rates set by the Bank of Canada and the Bangko Sentral ng Pilipinas
- Trade between Canada and the Philippines
- Political stability in Canada and the Philippines
- Global economic conditions
- Oil prices
Conclusion
The exchange rate between the Canadian Dollar and Philippine Peso has seen significant fluctuations over the years. While the rate has remained relatively stable in recent years, it is still affected by various economic and political factors. As such, it is important for businesses and individuals who deal with these currencies to keep an eye on the exchange rate and the factors that affect it.