So, that's why we advise you to seek the best place to get the best fx rates for your upcoming money transfer/exchange. ![]() So, if you make the same calculations above, there will be a difference of about 1.794 USD depending on which forex bank or agency you choose to exchange your money. Some Internet based foreign currency exchange agencies add 10 percent or even more. In the example above for a 1000 Philippine Pesos amount, the result of the money conversion is 18.298 USD for a 2% margin or 18.478 USD for a 3% margin. We recommend that you choose the best place to make your money exchange because there can be a large difference between forex rates you will get. If, for example, you are using a credit card, this margin will typically be around 2 to 3 percent. But, in practice, you will pay more (or perhaps much more) to get the same amount of your foreign currency due to the margin for the money conversion services costs like: commissions, credit card surcharges, ATM fees and other expenses. There, you need to get 1000 Philippine Pesos ( ![]() This exchange rate from Philippine Peso to US Dollar is today at 0.018.Īs an example, suppose you are from New york or in Los Angeles United States and you travel to Manila Philippines. PHP/USD represents the value of Philippine Peso money in US Dollar money and it is called the 'exchange rate' or 'forex rate'. The Philippine Peso is the official Philippine Peso currency. Learn how to get the best Philippine Peso exchange rate before exchanging your money
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