Have you ever wondered how much money from different countries is worth in the Philippines? Every day, the Bangko Sentral ng Pilipinas (BSP) checks and updates exchange rates. Exchange rates tell us how much one country’s money is worth compared to another.
Let’s look at the top 10 most valuable currencies and see how they compare to the Philippine Peso!
Top 10 Currencies and Their Value in Philippine Pesos (PHP)
United States Dollar (USD – $)
1 USD = 57.99 PHP
The US dollar is the most widely used currency in the world. It is often used for international trade and is one of the strongest currencies.
Japanese Yen (JPY – ¥)
1 JPY = 0.3853 PHP
Japan’s currency, the Yen, is often used in business, especially for technology and cars. You need more Yen to make a Peso because the value of one Yen is small.
British Pound (GBP – £)
1 GBP = 73.02 PHP
The British Pound is one of the most expensive currencies. It’s used in the United Kingdom, which includes England, Scotland, Wales, and Northern Ireland.
Hong Kong Dollar (HKD – HK$)
1 HKD = 7.46 PHP
Hong Kong is a major business hub, and its currency is often used for trading and tourism.
Swiss Franc (CHF – Fr)
1 CHF = 64.25 PHP
Switzerland’s currency is known for being very stable. Many people trust Swiss banks, and that makes their currency strong.
Canadian Dollar (CAD – C$)
1 CAD = 40.13 PHP
Canada’s money is used for trade, especially for buying oil and natural resources.
Singapore Dollar (SGD – S$)
1 SGD = 42.92 PHP
Singapore is a small but very rich country in Asia. Their currency is one of the strongest in the region.
Australian Dollar (AUD – A$)
1 AUD = 36.04 PHP
Australia’s currency is used for trading gold, coal, and other resources.
Bahrain Dinar (BHD – .د.ب)
1 BHD = 153.87 PHP
The Bahrain Dinar is one of the most expensive currencies in the world! It is used in Bahrain, a small but rich country in the Middle East.
Kuwaiti Dinar (KWD – د.ك)
Not Available (N/A)
The Kuwaiti Dinar is known for being the most valuable currency in the world, but today’s exchange rate was not provided.
Other Important Information
BSP Exchange Rates
- Buying Rate: 57.75 PHP per 1 USD
- Selling Rate: 58.25 PHP per 1 USD
- Reference Rate: 58.00 PHP per 1 USD
Gold Price: $2,870.15 per ounce
Silver Price: $31.15 per ounce
Why Do Exchange Rates Change?
Exchange rates change every day because of supply and demand. If more people want a currency, its value goes up. If fewer people want it, the value goes down.
For example:
If many people buy US dollars, the price of USD in pesos will go higher. If fewer people need US dollars, the price will go lower.
This is why travelers, businesses, and even online shoppers need to check exchange rates before they buy or sell something from another country!
