Canadian Dollar Exchange Rate To Philippine Peso Chart
As an international traveler, you may be interested in keeping track of the Canadian Dollar exchange rate to Philippine Peso. This information can help you plan your trip and budget your expenses accordingly. In this article, we will explore the current exchange rate, historical trends, and factors that impact the rate.
Current Exchange Rate
As of August 2021, the Canadian Dollar to Philippine Peso exchange rate stands at 37.21 PHP for 1 CAD. This means that if you exchange 1 CAD, you will receive 37.21 PHP in return. The rate is subject to change depending on various factors such as economic conditions, political stability, and global events.
Historical Trends
The Canadian Dollar to Philippine Peso exchange rate has fluctuated over the years. In the past decade, the highest rate was recorded in March 2015 when 1 CAD was equivalent to 41.56 PHP. The lowest rate was recorded in January 2016 when 1 CAD was equivalent to 31.55 PHP. It's important to note that historical trends are not a reliable predictor of future rates.
Factors That Impact Exchange Rates
Exchange rates are influenced by various factors, including economic conditions, political stability, and global events. Here are some key factors that can impact the Canadian Dollar to Philippine Peso exchange rate:
- Economic Performance: The economic performance of both countries can impact the exchange rate. For example, if Canada's economy is performing well, its currency may strengthen against the Philippine Peso.
- Interest Rates: The interest rates set by the central banks of both countries can also impact the exchange rate. Higher interest rates can attract foreign investors, which can lead to a stronger currency.
- Political Stability: Political instability can lead to uncertainty in the market, which can cause a currency to weaken.
- Global Events: Global events such as natural disasters, pandemics, and wars can also impact exchange rates.
How to Convert CAD to PHP
If you need to convert Canadian Dollars to Philippine Pesos, you can do so through a bank, currency exchange, or online service. It's important to compare rates and fees to find the best deal. Keep in mind that some services may require a minimum or maximum amount for exchange.
Conclusion
Keeping track of the Canadian Dollar exchange rate to Philippine Peso can help you plan your trip and budget your expenses. While historical trends can provide some insight, it's important to consider current economic and political conditions when predicting future rates. Use this information to make informed decisions when exchanging currency.