See here US dollar to Philippine peso history, based on the foreign exchange rates posted by banks, remitters and money changers.
What you see below is the Philippine peso equivalent for 1 US Dollar. It’s the foreign exchange rate that the banks, remitters or money changers use when they BUY your US Dollars.
- Chart on Current US Dollar-Peso Exchange Rates (BSP,EW,BDO,BPI,MB,NAI,WISE,ROB,RCBC,SB,LB,PNB,WU)
- WISE US Dollar-Peso Exchange Rate
- Eastwest US Dollar-Peso Exchange Rate
- BDO US Dollar-Peso Exchange Rate
- Western Union US Dollar-Peso Exchange Rate
- Buying US Dollars
- Personal experiences on US Dollar-Peso Rate History
- US Dollar-Peso History from 1945 to 2022, Based on BSP Records
EW=Eastwest MB=Metrobank SB=Security Bank Rob=Robinsons NAI=Naila’s LB=Landbank
*WISE is one of the most popular global online remittance companies. They give the highest US dollar to Philippine peso foreign exchange rate. When sending US dollars through WISE, you can see the actual amount of your money in Philippine peso before you click the SEND button. Money is deposited to the Philippine peso accounts of customers in Philippine banks.
By the way, I’m an affiliate of WISE.
US Dollar to Philippine Peso EASTWEST
I discovered a few years ago that EASTWEST Bank gives the best US dollar to Philippine peso exchange rate after I saw an Eastwest armored van delivering cash to a Czarina money exchange branch in Alabang. I wondered why they were there at Czarina, so I started tracking Eastwest US dollar-peso exchange rates. I then started exchanging my US dollars at Eastwest, instead of exchanging at Czarina, which was my favorite money changer for many years.
Sanry’s money changer was another favorite, and it often times had higher exchange rates than Czarina, but there’s no Sanry’s branch in the South Metro. So for many years, I exchanged my US dollars at Czarina. Until I discovered EASTWEST.
US Dollar to Philippine Peso BDO
BDO does not offer the best US dollar to Philippine peso exchange rate (they offer the 2nd or 3rd best rate), but many people exchange their foreign currencies with them. Why? Because they have branches open on Saturdays, Sundays and holidays and some up to early evening. They have branches inside SM Malls where families shop and dine. And they have lots of branches nationwide.
Despite complaints that reach the media from time to time, BDO probably has the biggest number of depositors, based on their top ranking based on total deposits for many years now.
US Dollar to Philippine Peso Western Union
If you have a Paymaya or a GCash account, maybe you already know that you can receive your Western Union US dollar remittance through your Paymaya or GCash account in Philippine peso. When Western Union offered this option, I was happy because I didn’t need to go out of our house to claim my Western Union remittance. I bet many bloggers receiving Google Adsense payments are happy. Note though that the Western Union exchange rate is lower than that offered by others. So this option is only okay for lower amounts.
If you’re expecting bigger amounts of US dollars through Western Union, I suggest that you claim them at money changers Sanry’s or Czarina in US dollars, and then exchange them to Philippine peso.
Buying US Dollar with Philippine Peso
When you need US dollars, the top banks like BDO, BPI or Metrobank offer the best foreign exchange rates. But you need to have a long-standing account with them, and you need certain documents, like trade or import documents, or travel documents to be able to buy US dollars from them.
Czarina also sells US dollars, but only in their big branches, and only if you present travel or trade documents.
If you don’t have any document to prove where you will use US dollars, there are money changers that sell US dollars, but at a higher cost. Make sure you get a receipt and have them sign the list of US dollar serial numbers, so you can go back for replacement in case some pieces are damaged.
US Dollar to Philippine Peso History (Personal)
The first time I got aware there’s another kind of money, that there’s not only PESO, but that there’s also Dollar, I was in grade school. And I remember the older people said, if you have 1 dollar, you have 5 pesos. Probably late 1960s. Because when I remember those times, I also remember people were talking about Gloria Diaz winning the Miss Universe title. And when I researched, Gloria Diaz became Miss Universe in 1969. And my admiration for Gloria Diaz even grew more recently when I read she was only 18 at that time!
And when I got to high school, somebody gave me 5 dollars, and I remember the number 7, so the exchange rate that time in the 1970s must have been 1 dollar = 7 pesos.
The next time I got conscious about the dollar-peso exchange rate was when my husband decided to go abroad to work in 1994. By then, the exchange rate was one US dollar = 25 pesos.
I researched BSP’s US Dollar to Philippine Peso History, and I saw that my memories of the dollar-peso exchange rate in earlier years was on point.
US Dollar to Philippine Peso History, based on BSP records
|Month or Year||Pesos = 1 US Dollar|
|1945 to April 1946||2.00|
|May 1946 to April 1948 (M. Roxas presidency)||2.00|
|April 1948 to Dec 1953 (E. Quirino pres)||2.00|
|Dec 1953 to March 1957 (R. Magsaysay pres)||2.00|
|March 1957 to Apr 1960 (Start of C. Garcia pres)||2.00|
|May 1960 to Aug 1960||3.20|
|Sep 1960 to Dec 1961||3.00|
|Dec 1961 (Start of D. Macapagal pres)||3.00|
|Feb 1962 to Dec 1962 average||3.8082|
|Dec 1965 (Start of Marcos pres)||3.9088|
|Mar 1970 to Dec 1970 average||6.27479|
|Sep 1972 (Martial Law declaration)||6.7795|
|Oct 1973 (Start of First Oil Crisis)||6.7397|
|1978 average (Creation of POEA due to OFW growth)||7.9794|
|Jan 1979 (Start of 2nd Oil Crisis)||7.3762|
|Sep 1980 (Start of Iran-Iraq War)||7.5622|
|Feb 1986 (People Power, Start of C. Aquino pres)||20.4609|
|June 1992 (Start of Ramos pres)||26.1205|
|July 1997 (Start of Asian Financial Crisis)||27.6679|
|June 1998 (Start of Estrada pres)||40.3991|
|Jan 2001 (Start of Arroyo pres)||50.9693|
|Oct 2004||56.3414 (highest ever)|
|June 2010 (Start of Noynoy Aquino pres)||46.3027|
|June 2016 (Start of Duterte admin)||46.4645|
Source of US Dollar to Philippine Peso History Data: BSP website’s Statistics pages
Downloaded data in Excel can be accessed here: US Dollar to Philippine Peso History