About USD to PHP Exchange Rate
Looking to convert 1,000 US Dollar (USD) to Philippine Peso (PHP)? At the current exchange rate, 1,000 USD equals 59,247.45 PHP. The exchange rate is 1 USD = 59.2475 PHP.
Our currency converter uses real-time exchange rates sourced from global financial markets and updated hourly at the top of each hour. The mid-market rate you see here is the fairest rate available, representing the midpoint between buy and sell rates without any markup or hidden fees that banks and money transfer services typically add (which can be 2-4% above mid-market rates).
How to Use This USD to PHP Converter
- Enter the amount you want to convert in the "Amount" field (supports any amount from 0.01 onwards)
- Select USD as your source currency and PHP as your target currency
- Click "Convert" to see the converted amount at the current exchange rate
- Use the swap button (⇄) to quickly reverse the conversion direction
- Reference the Quick Conversion Table above for common amounts
The USD/PHP rate can fluctuate throughout the day based on economic factors, market sentiment, central bank policies, and geopolitical events. Currency markets are open 24/5 (Monday-Friday). Check back regularly for the latest rates, which update every hour on MarketsHost.
Frequently Asked Questions
How much is 1,000 USD in PHP today?
1,000 USD equals 59,247.45 PHP at today's exchange rate of 1 USD = 59.2475 PHP. This rate is updated hourly and represents the mid-market rate without any markups.
Is this the best rate to convert 1,000 USD to PHP?
This is the mid-market rate (59.2475 PHP per USD), which is the fairest rate available. Banks typically add a 2-4% markup. For your 1,000 USD conversion, you'd get roughly 59,247.45 PHP at mid-market, but banks might offer 57,470.03 - 58,062.50 PHP (3-2% less).
Where can I convert 1,000 USD to PHP?
You can convert 1,000 USD at banks, currency exchange bureaus, airports, or online services like Wise, Western Union, or PayPal. Online services typically offer rates closer to the mid-market rate, potentially giving you more PHP for your 1,000 USD.
Is 59.2475 PHP per USD a good rate?
This is the mid-market rate, which is the fairest rate available in the forex market. Banks and money transfer services typically add a 2-4% markup to this rate. If you're getting a rate within 1-2% of this mid-market rate, that's considered competitive.
How often do USD to PHP rates update?
Currency exchange rates on MarketsHost update every hour at the top of the hour. Currency markets operate 24 hours a day, 5 days a week (Monday-Friday), so rates can change continuously based on global economic events.
Where can I exchange USD to PHP?
You can exchange currencies at banks, currency exchange bureaus, airports, or use online money transfer services like Wise, Western Union, or PayPal. Online services typically offer better rates (closer to mid-market) compared to physical exchanges.
What's the difference between mid-market rate and bank rate?
The mid-market rate (shown here) is the midpoint between buy and sell prices in the forex market with no markup. Bank rates typically add a 2-4% margin on top of the mid-market rate as their profit. For example, if the mid-market rate is 59.2475, a bank might offer 57.4700 (3% worse).
Why do USD to PHP rates change?
Exchange rates change due to multiple factors including economic indicators (GDP, inflation, employment), central bank policies and interest rates, political stability, trade balances, market sentiment, and global events. Supply and demand in the forex market cause continuous rate fluctuations.
Can I convert PHP back to USD?
Yes! Use our
reverse PHP to USD converter or click the swap button (⇄) in the calculator above to instantly reverse the conversion direction.
What is the historical trend for USD to PHP?
The USD/PHP rate can trend up or down over time based on economic fundamentals. To track historical trends, monitor central bank policies, inflation rates, GDP growth, and trade balances in both countries. Major currency pairs typically move 5-15% annually, while emerging market currencies can be more volatile.
Should I convert USD to PHP now or wait?
Timing currency conversions is challenging even for professionals. If you need PHP for an upcoming expense, convert when the rate is favorable to your needs rather than trying to predict future movements. For large amounts, consider splitting conversions over time to average out rate fluctuations. For small personal transactions, the convenience often outweighs waiting for better rates.