Philippines Foreign Exchange Rate for Conversion of US Dollars to Philippine Pesos (Peso-Dollar Foreign Exchange March 6, 2009)
US$ 1.00 = PhP 48.651
This is good for Filipinos earning US dollars!
Paypal’s Peso Exchange Rate for March 6, 2009 is 1 USD = 47.2463.
BSP Buying Rate (T/T) : Php 48.20
BSP Selling Rate (T/T) : Php 49.10
BSP Reference Rate : Php 48.65
Filipino Introduction to Foreign Exchange Market and Foreign Exchange Trading. Brief explanation for Filipinos to understand Forex.
The foreign exchange market is a market where currency trading takes place on daily basis. The banks and other official government institutions facilitate the buying and selling of foreign currencies.
The “Bangko Sentral ng Pilipinas” or the BSP is the one who maintains the exchange rate system in the Philippines. Exchange rates are determined on the basis of supply and demand in the foreign exchange market. The role of the BSP in the foreign exchange market is principally to ensure orderly conditions in the market.
Duly credited to BSP:
http://www.bsp.gov.ph/financial/forex.asp
The Foreign Exchange Market trading is open daily. It is a market where peso-dollar trading among banks, big industries, companies and investors as they facilitate the buying and selling of foreign currencies.
Pinoy Forex Feeds
Recent Comments