1 USD to PHP - Convert US Dollar to Philippine Peso

Looking at the 30-day window, the USD/PHP pair traded in a range of 59.9325 to 64.0288. The monthly average was 61.2391 with 1.49% volatility. The relatively low volatility indicates stable trading conditions for the USD/PHP currency pair.

The current mid-market exchange rate is 1 USD = 61.6681 PHP, updated as of June 3, 2026, 11:50 PM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

US Dollar to Philippine Peso Exchange Rate

The Philippines is home to one of the world's largest overseas worker populations. Over 10 million Filipinos work abroad, and the money they send home accounts for roughly 10% of the country's GDP. The vast majority of those remittances flow through the dollar, making USD/PHP a pair that directly affects millions of households.

A Country Built on Remittances

The Philippines receives around $35-38 billion in remittances every year, with the US being the single largest source. For context, that is more than the country earns from its entire tourism industry. Filipino workers in US cities like Los Angeles, New York, and Houston send money home weekly or monthly, and the peso rate they get determines whether their family can cover rent, school fees, or medical bills. This is not abstract financial data. It is grocery money.

What Drives the USD/PHP Rate

The Bangko Sentral ng Pilipinas (BSP) manages monetary policy and occasionally intervenes in the currency market. US interest rates, oil prices, and the overall strength of the dollar index all weigh on the peso. Domestically, remittance inflows, foreign investment, trade deficits, and inflation data drive the direction. The peso tends to weaken when oil prices spike, since the Philippines imports nearly all of its fuel.

What a Conversion Really Costs

Traditional remittance corridors to the Philippines have gotten cheaper over the past decade, but costs vary widely. Banks still charge 3-5% on the exchange rate plus wire fees. Money transfer operators like remittance shops charge 1-3%. Digital services and apps now offer rates within 0.3-0.8% of mid-market with minimal fees, especially for transfers sent to mobile wallets or bank accounts.

How to Get the Best USD to PHP Rate

Always check the mid-market rate on this page first. If your provider's rate is more than 1% off, you are likely overpaying. For regular senders, batch your transfers when the rate is favorable rather than sending small amounts at higher costs. Digital transfer services consistently beat traditional remittance shops on both rate and fees.