USD/PHP is a Forex ticker that represents the price it will cost you in Philippine Peso to buy 1 USD. FX currencies are shortened to three-letter abbreviations for ease and are called ISO codes. The Forex market trades in these currency pairs and have a quote structure of Base/Quote (USD/PHP).
The live USD/PHP rate is shown below in an interactive chart that you can use for technical analysis. Our real-time news and analysis will keep you up to date with factors affecting the price movements of USD/PHP, both fundamental and technical.
Recommended Forex Brokers to Trade USD/PHP
The USD /PHP currency pair represents the United States Dollar and the Philippines Peso respectively. The US dollar is the most traded currency in the world and the world’s unofficial reserve currency. The Philippine peso is the official currency of the Philippines. It has the 36th-largest economy in the world, even as a newly industrialized country.
While the exchange rate between 1993 and 2019 was substantially higher than the earlier pegged levels, the rate is free-floating. This has brought more stability to the Philippines Peso and eradicated the black market which existed during the pegged system.
USD/PHP Significant Price Movements
Despite always being weaker than USD, the Philippine peso had several surges of growth in the Asian-Pacific region in the 1990s.
In 2010, the economy of the United States began to show signs of recovery and the USD continued to strengthen. Meanwhile, the Philippine peso climbed slowly yet steadily against the dollar, and by the end of 2013 was trading at 44.086.
In 2018, the exchange rate for the Philippine peso to the U.S. dollar dropped to its lowest in 12 years with the peso-dollar-exchange-rate being 52.95 to 1 U.S. dollar. This echoes the 55 PHP to 1 USD exchange rate of 1991. The new downward trend is suspected to be related to the Philippines trade deficit increasing and growing tensions in the Asian markets.
Which is the best broker to trade the USD/PHP pair?
There are not many online brokers that support day trading of the USD/PHP pair. We are constantly evaluating new and existing brokers to recommend the most reliable ones. For more information, you can go to our page that reviews and compares the best Forex brokers to learn more about the different platforms where you can trade USD/PHP.
When I trade the USD/PHP pair will I own the actual currency?
No. CFDs allow you to speculate on rises and falls in the currency pair without having physical ownership. With CFDs, you only have to put in a fraction of the market value of the underlying asset when making a trade. Unlike investing, when you trade CFDs, you are not buying or trading the underlying asset. What you are buying/selling is a contract between yourself and the CFD provider.
How to trade the USD/PHP pair?
Unfortunately, very few Forex dealers currently offer the USD/PHP contract for trade. There may soon be a way for casual investors and traders to take advantage of this incredibly profitable trend as the PHP continues to gain strength over the USD in the months and years ahead.