Currency profile
Philippine Peso (PHP)
The Philippine peso (PHP) is the official currency of the Philippines, divided into 100 centavos. It has a market-determined (floating) exchange rate overseen by the Bangko Sentral ng Pilipinas, and the country is a major recipient of remittances from overseas workers.
The Philippine Peso today
Mid-market · updating…
The peso floats freely; its rate is market-determined, with the Bangko Sentral ng Pilipinas smoothing sharp swings.
Exchange-rate regime
Free-floating. The peso is market-determined; the Bangko Sentral ng Pilipinas intervenes only to smooth excessive volatility.
The issuing central bank
The Bangko Sentral ng Pilipinas (1993) is the central bank; it succeeded the Central Bank of the Philippines, established in 1949.
History
- 1949The Central Bank of the Philippines was established on 3 January 1949.
- 1993It was reconstituted as the Bangko Sentral ng Pilipinas, the present-day central bank.
- TodayThe peso trades on a market-determined, floating exchange rate.
Coins and banknotes
One peso is divided into 100 centavos. Coins: 1, 5, 10, 25 centavos and 1, 5, 10 and 20 pesos. Banknotes: 20, 50, 100, 200, 500 and 1,000 pesos, issued by the Bangko Sentral ng Pilipinas.
Popular Philippine Peso pairs
What moves it
- The peso floats; Bangko Sentral ng Pilipinas policy and market forces set its rate.
- Large remittance inflows from overseas Filipino workers are a major support (World Bank).
Structural facts reviewed 2 August 2026 · reviewed quarterly. Sources: Bangko Sentral ng Pilipinas · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.