Us Dollar Exchange Rate To Philippine Peso Bdo
Are you planning on traveling to the Philippines or sending money to someone in the country? One of the things you need to consider is the exchange rate between the US dollar and the Philippine peso. In this article, we will discuss the exchange rate offered by BDO, one of the largest banks in the Philippines.
What is BDO?
BDO, or Banco de Oro, is a full-service commercial bank in the Philippines. It was founded in 1968 and is now one of the largest banks in the country in terms of assets, loans, and deposits. BDO offers a wide range of banking services, including deposit-taking, lending, foreign exchange, and investment banking.
What is the current US dollar to Philippine peso exchange rate at BDO?
The exchange rate between the US dollar and the Philippine peso can vary depending on the bank, time of day, and other factors. As of August 2021, the US dollar to Philippine peso exchange rate at BDO is approximately 50.70 PHP to 1 USD. However, it is important to note that this rate can change at any time, so it is always a good idea to check the current rate before conducting any transactions.
How does BDO's exchange rate compare to other banks and money changers?
The exchange rate offered by BDO is just one of many options available to you when exchanging US dollars to Philippine pesos. Other banks, such as BPI and Metrobank, also offer exchange services. In addition, there are many money changers and remittance centers in the Philippines that offer competitive exchange rates.
It is important to compare rates and fees before choosing where to exchange your money. Some money changers may offer better rates but charge higher fees, while others may have lower fees but a less favorable exchange rate.
How can I exchange US dollars to Philippine pesos at BDO?
If you have a BDO account, you can exchange US dollars to Philippine pesos at any BDO branch. Simply present your US dollars and a valid ID to the teller, and they will assist you with the transaction. The exchange rate and fees will be displayed on the screen before you confirm the transaction.
If you do not have a BDO account, you can still exchange US dollars to Philippine pesos at BDO. However, you will need to present two valid IDs and fill out a form with your personal information. The teller will then assist you with the transaction.
What are the fees when exchanging US dollars to Philippine pesos at BDO?
When exchanging US dollars to Philippine pesos at BDO, there are fees involved. The fees vary depending on the amount being exchanged and the type of account you have with BDO. For example, if you have a BDO Kabayan savings account, there are no fees for exchanging up to USD 10,000 per month.
It is important to check the fees before conducting any transactions to avoid any surprises. The fees will be displayed on the screen before you confirm the transaction.
Conclusion
Knowing the exchange rate between the US dollar and the Philippine peso is important when traveling to the Philippines or sending money to someone in the country. BDO offers a competitive exchange rate and a wide range of banking services. However, it is always a good idea to compare rates and fees before choosing where to exchange your money.