Philippine Peso (PHP)
Live Rate
1 SGD = 47.20 PHP
Updated 14 April 2026 at 08:55:49
The Philippine Peso is the official currency of the Philippines. Managed by the Bangko Sentral ng Pilipinas (BSP), it is central to one of Southeast Asia's fastest-growing economies and the world's largest remittance-receiving nations.
Key Facts
Currency code
PHP
Symbol
β±
Central bank
Bangko Sentral ng Pilipinas (BSP)
Exchange rate
Managed float
Introduced
1949 (modern series 1993)
Subunit
Centavo (1/100)
History & Background
The Philippine Peso has its roots in the Spanish colonial era peso, introduced in the 16th century. Following American colonisation, a gold standard was established in 1903. After independence in 1946, the Philippines maintained the peso and has since undergone several currency reforms. The modern peso replaced the old peso at par in 1993 following the New Central Bank Act.
Economy & Remittances
The Philippines is one of the world's top recipients of overseas remittances, with millions of Overseas Filipino Workers (OFWs) sending money home from Singapore, the Middle East, the US, and beyond. Remittances consistently contribute 8β10% of GDP, making the peso's exchange rate particularly sensitive to global labour markets.
Monetary Policy
The Bangko Sentral ng Pilipinas employs inflation targeting as its monetary framework. The BSP adjusts the overnight policy rate to keep inflation within a target band. The peso operates under a market-determined floating exchange rate system, with the BSP intervening to smooth excessive volatility.
Banknotes & Coins
Philippine peso banknotes are issued in denominations of β±20, β±50, β±100, β±200, β±500, and β±1,000. Coins circulate in denominations of 1Β’, 5Β’, 25Β’, β±1, β±5, and β±10. Philippine banknotes feature national heroes, iconic landmarks, and endemic wildlife.
SGD / PHP Rate Trend
Historical mid-market rates