Exchange Rates Philippine Pesos / U.S. Dollar

In this report I use an exchange ratio of 38/1.  The exchange rate was actually slightly better but the difference is only a few cents. 

I was pleasantly surprised that even at the airport exchange booth the rate was very close to the current official exchange.

Be sure and get plenty of P100's for taxis.  If you give them more they mostly likely will say they don't have change!

Only the hotels seemed to have a bad exchange rate, like in the Holiday Inn where it as only 35/1.   In Manila besides the airport I used a small exchange nook across from the Corporate Hotel.

In Angeles I used the famous “Nora’s” but there were many other exchange booths.  Whenever I checked rates they seemed to be very reasonable.

The only real exchange rate concern is you get a much worse rate at the airport when you reconvert Pesos back to U.S. dollars.  So you should not exchange much more than your going to use.

Be sure to keep P550 for the Manila airport improvement fund.  If you pay in $US it’s a bad rate. This “tax” increased from P500 on April 1, 1999.  My cab driver didn’t know about the increase since he confirmed incorrectly the old P500 fee.  You pay the tax on the way to immigration and after you probably have exchanged your Pesos back to dollars, so be sure to keep P550.

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