Manila, Philippines – The Bangko Sentral ng Pilipinas (BSP) has released its latest reference exchange rate bulletin for March 21, 2025, detailing the exchange rates of various global currencies against the Philippine Peso (PHP). The data provides valuable insight into the forex market trends that impact both international trade and overseas remittances.
Key Exchange Rates
According to BSP, the Philippine Peso is currently valued at 57.169 PHP per US Dollar (USD). This rate reflects the ongoing market fluctuations affecting the peso’s performance against major global currencies.
Other notable exchange rates include:
- 1 British Pound (GBP) = 74.1539 PHP
- 1 Euro (EUR) = 62.0684 PHP
- 1 Japanese Yen (JPY) = 0.3842 PHP
- 1 Hong Kong Dollar (HKD) = 7.3551 PHP
- 1 Singapore Dollar (SGD) = 42.8104 PHP
- 1 Australian Dollar (AUD) = 35.9993 PHP
- 1 Canadian Dollar (CAD) = 39.9085 PHP
- 1 United Arab Emirates Dirham (AED) = 15.5659 PHP
- 1 Saudi Arabian Riyal (SAR) = 15.2414 PHP
- 1 Chinese Yuan (CNY) = 7.8859 PHP
- 1 South Korean Won (KRW) = 0.0390 PHP
- 1 Thai Baht (THB) = 1.6959 PHP
For non-convertible currencies with BSP, notable rates include:
- 1 Indian Rupee (INR) = 0.6623 PHP
- 1 Malaysian Ringgit (MYR) = 12.9225 PHP
- 1 Mexican Peso (MXN) = 2.8386 PHP
- 1 New Zealand Dollar (NZD) = 32.9008 PHP
- 1 South African Rand (ZAR) = 3.1524 PHP
BSP Buying and Selling Rates
The BSP has also set the following trading benchmarks:
- BSP Buying Rate (T/T): 56.950 PHP/USD
- BSP Selling Rate (T/T): 57.450 PHP/USD
- BSP Reference Rate: 57.200 PHP/USD
- PDS Closing Rate (March 20, 2025): 57.222 PHP/USD
Impact on the Economy
The peso’s exchange rate remains a critical factor influencing the country’s inflation, import costs, and overseas Filipino workers’ (OFW) remittances. The fluctuations in forex rates can directly affect the purchasing power of Filipinos, especially those relying on foreign exchange for business or personal transactions.
Gold and Silver Prices
In addition to forex rates, the BSP reported that gold buying prices are at $3,046.35 per ounce, while silver buying prices stand at $33.50 per ounce.
Conclusion
With the peso currently trading at 57.169 PHP per US Dollar, businesses and individuals engaged in international transactions should remain vigilant of the forex market trends. As global economic factors continue to evolve, the exchange rate landscape will play a crucial role in shaping the country’s financial stability.
For the most updated rates and financial insights, stay tuned to the Bangko Sentral ng Pilipinas’ official updates.
