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PHP/USD Exchange Rate

PHP 1.00 = USD Reference Mid-Rate       /
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Daily Currency Market Commentary
Daily currency news provided by OzForex

The U.S dollar rallied across the board Thursday closing in on 5 year highs on Bloomberg’s correlated spot index while touching a 7 year high against the Japanese Yen. A core CPI inflation report showed an increase in price pressures of 0.2%, a welcome reading as Wednesday''s FOMC minutes showed policy makers debated the possibility inflation may stagnate in the face of languid global growth. The 18 nation Euro crept downward as manufacturing purchases slipped suggesting business growth is weakening and adding further scope to increased QE measures across the embattled currency bloc.  As the gap between Central Bank Policies continues to widen the depreciation of the Yen and Euro are expected to continue. The Euro appears to have found significant technical support around 1.24 as the market looks for definitive guidance from the ECB as to when and in what form quantitative easing will intensify with attention keenly focused on the Mario Draghi as he addresses the European Banking Congress tonight. The Japanese Yen has slumped some 2.2% this week and is the worst performs of 10 developed market currencies. With 120.00 now firmly in sight we expect the downward spiral to continue into next week as attentions turn to BoJ governor Kuroda for insight into further stimulus measures on Tuesday.  
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GBP Public Sector Net Borrowing and MPC Member Miles Speaks
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Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

BestExchangeRates in the Money

“A check with the foreign-exchange comparison website shows a big variation in the exchange rates available when sending money and buying cash.” ⇒ read article

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