We advise to bring along enough cash with you for your purchases when you’re heading to these far and remote places. However, in the smaller, remote islands and more rural areas, especially in small shops, accommodations and restaurants, they would only accept cash payments. Major credit cards are accepted in most big establishments in the cities and more urbanized areas. Receiving international remittance in foreign currency Need to exchange your foreign money to Philippine Pesos You can do that at any M Lhuillier branch. Also the local bank might charge an extra fee for this service.ĪTMs become rarer in more provincial areas, and may even be sometimes “offline”, while some places don’t even have these convenient machines. You may have to check this with your bank as rates vary per bank. Be aware, though, that a “transaction fee” will be charged to your account per withdrawal. We usually advise not to change your money in your own country: Philippine Pesos are not easy to collect for foreign banks and exchange rates aren’t advantageous.Īutomated Teller Machines (ATMs) in the PhilippinesĪTMs that dispense the local currency are widely spread in urban areas. Exchange rates are generally better in urban areas than in small rural areas or islands. Euro and US Dollars are commonly accepted for money exchange, as well as many other international currencies (ie Australian Dollars, Swiss Franc, Chinese RMB, others). Usually, establishments ask to see your passport or fill-out a form as mandated before the transaction. Current exchange rate US DOLLAR (USD) to PHILIPPINES PESO (PHP) including currency converter, buying & selling rate and historical conversion chart. Money exchange counters are widely available especially in urban areas most especially in airports, malls and in counter stalls. The exchange rates of which, as of writing (June 2020) are the following:ġ Japanese Yen = 0.46-0.48 Philippine Pesosįor live updates on exchange rates, there are several online websites offering the service also for other currencies, like the following: Philippine Peso is the currency being used in the Philippines.
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