Currency in the Philippines

The official currency of the Republic of the Philippines is Peso (PHP). When it comes to the subject of currency exchange, certain countries are more difficult to manage than others. We are happy to say that currency exchange in the Philippines is a very simple and hassle-free process. In fact, you can complete most transactions in major cities without carrying any of the local currency using your credit card. However, keep in mind that converting your currency to the Philippines’ Peso is important as card payments are not available everywhere in the country. Everything you need to know about handling your money in the Philippines is present here.

The most common denominations of the Peso are 20, 50, 100, 500 and 1000.

Converting currency in the philippines

It is always best to convert your currency in the Philippines. You will always find better rates than what your bank offers you. Additionally, the Philippines will not let you pass through customs with more than 10,000 Pesos on you. If you enter the country with more than this amount then customs will require you to convert the excess amount to your native currency.

It is best to simply bring your currency into the country and get it exchanged in one of the many currency exchange centers in the big cities. There are several around Manila and Cebu. The currency exchange rates for the Philippines are perfect if you’re travelling from the West or from Australia. The ideal bargain that assures a reasonable return for your money.

There multiple means to exchange currency in the Philippines. However, doing it through a bank is definitely the safest.

Credit Cards in the Philippines

You can complete most large payments in cities like Manila and Cebu using your credit card. We recommend using this mode for hotel payments and transactions in touristy locations like Boracay. That is where you can best use it. However, don’t forget to inform your bank about your trip in advance or else you’ll get your card blocked.

Given the widely famous street food and street shopping culture in the Philippines, it is always a good idea to have a decent amount of cash on you.

Breaking Currency in the Philippines

You must always carry some spare change with you at all times to make small payments like taxi fares and street food. The food is delicious and you’ll definitely be sampling some, but you need smaller denominations for that. It will be hard to find the vendors or the drivers to be able to break large denominations.

On your trip, make sure that you hold on to the coins that you get, as they can be used for these small transactions. Another way to make sure that you always have some change is to complete payments at larger establishments using the largest note that you have.

Street food stalls in the Philippines require you to carry and make payments in exact change most of the times.

Additional Tips

• Always carry cash when you are planning on visiting any of the smaller islands. ATMs are exceedingly difficult to find on these islands. This is important to keep in mind regarding money in the Philippines.
• Keep your credit card safe and make sure you withdraw money from ATMs that are attached to banks to protect yourself from identity theft.
• Ideally, you should use your card to withdraw local currency from ATMs. If you are ever in a pinch for Pesos, this is definitely one of the best ways to get some.
• Keep track of conversion rates whenever you convert your currency. Look around a bit for the best deal possible.
• Most ATMs have a withdraw limit. This is usually 10,000 pesos.

Most of the ATMs in the Philippines have a withdraw limit in the Philippines. In urban towns making card payments or having access to ATMs is a lot more easier as compared to the smaller islands.

If you plan on travelling to the Philippines, take a look at are other blog articles that serve as the ideal guide. Whether its getting around in the Philippines, figuring out the weather pattern to decide the best time to visit, or the best places to visit in this gorgeous country, we have it all covered. You can also get in touch with us for any help you need in preparing an itinerary for your stay.