Foreign Exchange Rate Australian Dollar To Philippine Peso
Overview
The Australian dollar (AUD) has been one of the most traded currencies in the world, and the Philippine peso (PHP) is the official currency of the Philippines. The foreign exchange rate between Australian dollar and Philippine peso is an important aspect of international trade and investment. The exchange rate determines the value of one currency in terms of the other currency, which is essential for the import and export of goods, services, and capital between the two countries.
Factors Affecting the Exchange Rate
Several factors affect the exchange rate between the Australian dollar and the Philippine peso, including:
- Economic indicators – such as inflation, interest rates, and GDP
- Political stability – changes in government policies and regulations
- Market sentiment – investor confidence and risk appetite
- Supply and demand – the demand for and supply of each currency in the foreign exchange market
- International trade – the balance of trade between the two countries
Current Exchange Rate
As of August 2021, the current exchange rate between the Australian dollar and the Philippine peso is around 33.04 PHP per 1 AUD. This means that one Australian dollar can buy approximately 33.04 Philippine pesos.
Historical Exchange Rates
The exchange rate between the Australian dollar and the Philippine peso has fluctuated over time. In the past decade, the exchange rate has ranged from a low of around 24 PHP per 1 AUD in 2013 to a high of around 41 PHP per 1 AUD in 2020.
Impact on International Trade
The exchange rate between the Australian dollar and the Philippine peso has a significant impact on international trade between the two countries. A weaker Australian dollar relative to the Philippine peso makes Australian goods and services cheaper for Filipino consumers, which can increase demand for Australian products and stimulate exports. Conversely, a stronger Australian dollar can make Australian goods and services more expensive for Filipino consumers, which can reduce demand for Australian products and limit exports.
Conclusion
The foreign exchange rate between the Australian dollar and the Philippine peso is an important aspect of international trade and investment. The exchange rate is influenced by several factors, including economic indicators, political stability, market sentiment, supply and demand, and international trade. Understanding the exchange rate is essential for businesses and investors involved in trade and investment between Australia and the Philippines.