Magkano Ang Palitan Ng Us Dollar Sa Peso
Introduction
The Philippine peso (PHP) is the official currency of the Philippines. It is subdivided into 100 centavos (Spanish for "cents"). Meanwhile, the US dollar (USD) is the world's most widely used currency and is the standard for international transactions. In the Philippines, the USD is widely accepted in many establishments, especially in tourist spots.
Historical Exchange Rates
The exchange rate between the USD and PHP has fluctuated over the years. In the 1960s, the exchange rate was around 2 PHP per USD. In the 1980s, it reached as high as 20 PHP per USD. By the 1990s, it had dropped to around 25 PHP per USD. In recent years, the exchange rate has been around 50-55 PHP per USD.
Factors Affecting Exchange Rates
The exchange rate between USD and PHP is influenced by various factors, including:
- Economic performance of the Philippines and the US
- Monetary policies of both countries' central banks
- Political stability
- Foreign investments
- Trade balance between the two countries
Where to Check Exchange Rates
There are many sources to check the current exchange rate between USD and PHP. Here are some of them:
- Banks - most banks in the Philippines display the current exchange rate on their websites or in their branches.
- Exchange centers - there are many exchange centers in tourist spots that offer currency exchange services. They usually display the current exchange rate on their boards.
- Online - there are many websites that offer real-time exchange rate updates, such as XE.com or Google's currency converter.
How to Convert USD to PHP
Converting USD to PHP is easy. You can do it in banks, exchange centers, or even in some establishments. Here are the steps:
- Check the current exchange rate.
- Decide how much USD you want to convert to PHP.
- Calculate the amount of PHP you will receive by multiplying the amount of USD by the exchange rate.
- Bring your USD to the bank, exchange center, or establishment and present it for conversion.
- Get your PHP.
Conclusion
Knowing the exchange rate between USD and PHP is important, especially for travelers or those who have dealings with foreign currencies. It is also important to keep track of the factors that affect exchange rates to make informed decisions. With the right knowledge and information, converting USD to PHP can be hassle-free.