Today's best US dollars - Philippine peso exchange rates

Mid-market exchange rate

1 USD = PHP

Compare USD-PHP exchange rates and fees before your next money transfer

Last updated 3 hours ago See live results

Your recipient gets	Exchange rate	Fees
5,839.00 PHP Check rates	Remitly USD to PHP rate: 1 USD = 58.3900 PHP	0 USD
5,822.49 PHP Check rates	Panda Remit USD to PHP rate: 1 USD = 58.2249 PHP	0 USD
5,762.34 PHP Check rates	WorldRemit USD to PHP rate: 1 USD = 57.6234 PHP	0 USD
5,738.71 PHP Check rates	XE Money Transfer USD to PHP rate: 1 USD = 57.3871 PHP	0 USD
5,724.22 PHP Check rates	Revolut USD to PHP rate: 1 USD = 57.6747 PHP	1 USD
5,675.54 PHP Check rates	Wise USD to PHP rate: 1 USD = 57.8487 PHP	2 USD
5,670.08 PHP Check rates	CurrencyFair USD to PHP rate: 1 USD = 57.5000 PHP	1 USD
5,615.00 PHP Check rates	Sendwave USD to PHP rate: 1 USD = 56.1500 PHP	0 USD
5,569.00 PHP Check rates	Paysend USD to PHP rate: 1 USD = 56.8207 PHP	2 USD
5,540.02 PHP Check rates	Xoom USD to PHP rate: 1 USD = 55.4002 PHP	0 USD

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Compare for a specific amount, different pay-in and pay-out options, and see transfer speed and Monito Scores on our dedicated comparison page.

How To Get the Highest Exchange Rate From US Dollar to Philippine Peso

The best way to take advantage of the current mid-market exchange rate from USD to PHP is to use Monito's comparison engine, which searches for trusted international money transfer services that apply strong rates and low commission fees:

Check the USD to PHP mid-market exchange rate;
Use Monito to compare services with low fees and strong rates;
Sign up for the service with the highest rates and lowest fees;
Confirm your transfer to the Philippines.

Where To Get the Best Highest Exchange Rate From USD to PHP

Remitly has far and away provided the best, cheapest transfers for the Dollar to the Philippine peso from July 2021 to July 2022 on Monito.

While Wise has been the second cheapest on average during this 12-month period, and Small World has come in at third, neither come close to Remitly.

Go to Remitly ❯

or read our full review

Big US banks can send your US dollars to the Philippines, but they often apply weak exchange rates and they charge high fees. International money transfer specialists almost always offer lower transfer fees and better exchange rates when sending money to the Philippines.

Western Union is incredibly expensive when compared to the top 3 providers for USD to PHP. In fact, Western Union did not even make the top 10 for providers who offer high dollar to peso exchange rates.

About the USD to PHP exchange rate: How much is $1 US to Philippine Peso today?

Conversion Rates USD/PHP

1 USD	57.702105 PHP
50 USD	2,885 PHP
100 USD	5,770 PHP
200 USD	11,540 PHP
500 USD	28,851 PHP
1,000 USD	57,702 PHP
3,500 USD	201,957 PHP
5,000 USD	288,511 PHP
10,000 USD	577,021 PHP
100,000 USD	5,770,211 PHP

Source XE.com | Last updated 27 minutes ago

Conversion Rates PHP/USD

1 PHP	0.01733 USD
50 PHP	0.86652 USD
100 PHP	1.733039 USD
200 PHP	3.466078 USD
500 PHP	8.665195 USD
1,000 PHP	17.33039 USD
3,500 PHP	60.656366 USD
5,000 PHP	86.651951 USD
10,000 PHP	173.303902 USD
100,000 PHP	1,733 USD

Source XE.com | Last updated 27 minutes ago

Key facts about USD and PHP

About the US dollar

Name:

US dollar

Symbol:

$

Minor unit:

1/100 Cent

Central Bank:

Federal Reserve Bank

Countries:

Ecuador, Guam, Micronesia, Palau, Panama, Zimbabwe, United States, Congo (RDC), El Salvador, Virgin Islands, British, American Samoa, Marshall Islands, Puerto Rico

Rank in the most traded currencies:

#1
About the Philippine peso

Name:

Philippine peso

Symbol:

₱

Minor unit:

1/100 Sentimo

Central Bank:

Central Bank of the Philippines

Country:

Philippines

US dollars (USD) and Philippine pesos (PHP) exchange rates with other main currencies

	USD	PHP	EUR	GBP	CAD	INR	UYU	PKR
1 USD		57.7021	0.9317	0.7992	1.3640	83.3317	38.3397	278.6953
1 PHP	0.017330		0.016147	0.013851	0.023639	1.4442	0.6644	4.8299
1 EUR	1.0733	61.9301		0.8578	1.4640	89.4377	41.1490	299.1163
1 GBP	1.2512	72.1982	1.1658		1.7067	104.2665	47.9715	348.7102
1 CAD	0.7331	42.3025	0.6831	0.5859		61.0920	28.1075	204.3168
1 INR	0.012000	0.6924	0.011181	0.009591	0.016369		0.4601	3.3444
1 UYU	0.026083	1.5050	0.024302	0.020846	0.035578	2.1735		7.2691
1 PKR	0.003588	0.2070	0.003343	0.002868	0.004894	0.2990	0.1376

Source XE.com | Last updated a few seconds ago

What Is an Exchange Rate?

An exchange rate is the rate at which one country's currency may be converted into another currency.

Bank dealers and traders buy and sell currency (such as USD and PHP) on the foreign exchange market, known as the interbank market. These kinds of transactions are being done by actors around the world every second of the day, which is why the mid-market exchange rate fluctuates up and down.

Why interbank traders buy and sell the way they do depends on a wide variety of complex factors. Some factors affecting currency exchange rates include inflation, federal interest rates, money printing, speculation, public debt, and a country's trade balance.

Beware of Exchange Rate Margins

What you need to know is that banks will not convert your dollars to pesos at the real mid-market exchange rate. Instead, they will ask for your US dollars at a weak rate and sell you Philippine pesos at an expensive rate.

This difference between the mid-market rate and the provider's proposed rate is known as an exchange rate margin. This is often the cost that international money transfer customers overlook the most.

Convert US Dollars to Philippine Pesos

Online money transfer specialists have used technology and their financial leverage to access better exchange rates. As a result, they can potentially save you significant amounts of money when you transfer your US dollars to the Philippine peso.

Exchange rates fluctuate all the time. But you can save the headache of searching for a provider, and save money, by comparing money transfer providers in real time with Monito's comparison engine:

Find Today's Highest Dollar to Peso Exchange Rate:

Frequently Asked Questions About the Best USD to PHP Exchange Rate

Where is the best place to exchange PHP to USD?

In 2022, the best place to exchange USD to PHP was Remitly. Other online money transfer specialists, such as Small World, Wise, Instarem, and many others, are good alternatives too.
Monito experts highly discourage customers from using banks, credit unions, or airport kiosks for currency exchange.
What is the highest USD exchange rate in PHP history?

Highest: 56.447 PHP on 21 July 2022
The strongest the US dollar was against the Philippine peso in the past 10 years between 2012 and 2022 was on July 21st, 2022 when 1 dollar was equivalent to about 56.45 pesos.
What is the best remittance in rate to the Philippines?

The best remittance rate will be the closest one to the mid-market exchange rate. Use Monito's comparison engine to find services with the highest USD to PHP exchange rate to save you money on your remittance.
Which bank is best for USD exchange rate?

Banks exchange your currency at weak rates, meaning that you will lose money on a hefty exchange rate margin.
With Monito's real-time comparison engine, compare international money transfer services, which show their transparent rates up front and charge much less than traditional provider.
Where can I exchange USD to PHP?

You can exchange USD to PHP with international money transfer services, which Monito highly recommends because they are secure, cheap, fast, and have dedicated customer support.
You may also exchange USD to PHP with banks, credit unions, airport kiosks, and traditional providers like Western Union, but we generally do not recommend these methods due to issues with cost, speed, transparency, and customer satisfaction.
Can you convert USD to PHP in PayPal?

Yes, you can. However, Monito highly discourages using PayPal as a money exchange service because they are one of the worst in terms of price and transparency. Read our review on PayPal for more information and much better alternatives.
Why is USD to PHP low?

One primary reasons is because the United States has been historically more economically stable than the Philippines, which gives financiers more confidence in the strength of the US dollar than the Philippine peso.
In addition, when financiers speculate economic downturn, many store their assets in US dollars because it is considered a safe and stable currency. Domestic monetary policy also has a role to play. When the US Federal Reserve increases interest rates, with the goal of taming inflation, it often increases the strength of the dollar respective to other foreign currencies. These are just a few of many complex reasons
How do I exchange USD to PHP?
1. Check the USD to PHP mid-market exchange rate;
2. Use Monito to compare services with low fees and strong rates;
3. Sign up for the service with the highest rates and lowest fees;
4. Confirm your transfer to the Philippines.