PHILIPPINES

(PHP) Currency News >>

CURRENCY:

Philippine Peso - PHP, Symbol Php

DENOMINATIONS:

NOTE: Php1,000, 500, 200, 100, 50, 20, 10 and 5.

COIN: Php10, 5, 2 and 1, and 50, 25, 10 and 5 centavos.

US DOLLAR ACCEPTED?

N/A

CREDIT/DEBIT CARDS AND ATMS:

Major credit cards are accepted in main cities. ATM machines are also available.

CURRENCY EXCHANGE:

This is easiest within the capital and the main currencies to exchange are US dollars and Sterling. Note: it is best to carry a fair amount of local currency in cash when travelling outside of the capital city.

TRAVELLER'S CHEQUES:

These are best in US dollars and make sure you keep the receipt of purchase in order to avoid difficulties.

BANKING HOURS:

Mon-Fri 0900-1500.

CURRENCY RESTRICTIONS:

Import of local currency requires authorisation if over PHP 5,000.

COUNTRY OVERVIEW:

The Philippines is officially called the Republic of the Philippines and is located in South East Asia. Its land mass is made up of thousands of islands set in the Pacific Ocean. Other than most countries in the Asia-Pacific area, the Philippines is mainly Roman Catholic, due in part to its having been a colony of both Spain and the USA. The capital is Manila and the official languages are Filipino and English.

POPULATION:

Around 90 million.

ECONOMY:

The economy of the Philippines is based on agriculture, services, mining, remittances, and manufacturing. Tourism is a healthy part of the services sector. Remittances from Philippines abroad is a huge part of the economy.