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Philippine Peso Dollar Exchange Rate History Table Bsp

The Philippine Peso (PHP) is the official currency of the Philippines. Its exchange rate against the US Dollar (USD) is a crucial indicator of the country's economic health. The Bangko Sentral ng Pilipinas (BSP), the country's central bank, is responsible for monitoring and setting the exchange rate.

History of Philippine Peso Dollar Exchange Rate

The Philippine Peso was introduced in 1852, replacing the Spanish-Philippine peso. Initially, the exchange rate was pegged to the US Dollar at a rate of 2:1. However, in 1946, when the Philippines gained independence from the US, the peg was changed to 1:2.

Since then, the exchange rate has fluctuated due to various economic and political factors. In the 1970s, the country experienced high inflation, which led to a devaluation of the peso. In 1983, the BSP introduced a managed float system, which allowed the exchange rate to be determined by market forces.

During the Asian Financial Crisis in 1997, the peso suffered a sharp drop in value, reaching a low of PHP 46.50 to USD 1. However, the country's economy eventually recovered, and the exchange rate stabilized.

Today, the exchange rate continues to fluctuate based on various factors, including global market conditions, political stability, and the country's economic performance.

BSP Exchange Rate Policies

The BSP has several policies in place to manage the exchange rate. One of these is the use of foreign exchange reserves to stabilize the peso. The BSP holds a significant amount of foreign currency, which it can use to buy or sell pesos in the market to influence the exchange rate.

The BSP also sets a daily reference exchange rate, which is based on the average exchange rate of transactions between banks. This rate serves as a benchmark for banks and other financial institutions when setting their own exchange rates.

Philippine Peso Dollar Exchange Rate History Table

Here is a table showing the historical exchange rate of the Philippine Peso against the US Dollar, based on BSP data:

Philippine Peso Dollar Exchange Rate History Table
YearExchange Rate
199027.707
199125.652
199226.259
199325.825
199425.662
199526.256
199626.679
199731.060
199840.894
199940.926
200044.745
200150.384
200252.135
200354.336
200456.389
200553.315
200651.065
200746.148
200844.483
200947.637
201045.11
201143.298
201242.008
201342.405
201444.44
201545.86
201647.13
201750.41
201852.64
201951.34
202050.72

Note: Exchange rates are based on the average of daily transactions between banks.

Conclusion

The exchange rate of the Philippine Peso against the US Dollar is an important indicator of the country's economic health. The BSP plays a crucial role in managing the exchange rate, using policies such as foreign exchange reserves and a daily reference rate. The historical table of exchange rates shows the fluctuations over time, which are affected by various economic and political factors.

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