All about Philippine money: History, denominations and how to exchange money

Philippine currency – or Philippine Peso (ISO code PHP, symbol ₱) is the only official and legal currency of the Philippines. Understanding the Philippine Peso not only helps customers when traveling, studying or investing in the Philippines but also helps manage foreign currency more effectively in Vietnam. SeABank customers should master this information to conduct foreign currency transactions correctly and safely.

1. Overview of Philippine money

The Philippine Peso is issued by the Bangko Sentral ng Pilipinas (BSP) — the central bank of the Philippines. The name “peso” comes from the Spanish word (peso means “weight” — referring to the weight of silver) and has been used since the Spanish colonial period.

The modern monetary system of the Philippines was established after the country's independence, marked by the official adoption of the Peso as its currency in the mid-20th century.

Some highlights:

• ISO code: PHP
• Local symbol: ₱
• Issuing Agency: Bangko Sentral ng Pilipinas (BSP)
• Banknotes and coins are designed to reflect the culture, celebrities and prominent landscapes of the Philippines.

Although not as widely used as USD or EUR, Philippine Peso is still an important payment tool in the Southeast Asia region and for Vietnamese people who need to invest, travel or send money to the Philippines.

Philippine Peso Denominations and Philippine Cultural Symbols

The economic and financial development of the Philippines in recent years has also contributed to strengthening the position of the Peso. Therefore, understanding the characteristics of Philippine currency helps SeABank customers to be more proactive in foreign currency transactions.

2. Currency conversion Philippines – Vietnam

Photo caption: Exchange rate table between Philippine Peso and Vietnamese Dong.

Conversion between Philippine Peso (PHP) and Vietnamese Dong (VND) is very popular in transactions such as traveling, studying, sending money to relatives or small investments. Reference exchange rate nearHere according to Wise tool: 1 PHP ≈ 447 VND.

Simple conversion formula:

Amount (VND) = Amount (PHP) × PHP/VND exchange rate

Reference example:

• 100 PHP ≈ 44 700 VND
• 1.000 PHP ≈ 447 000 VND
• 5.000 PHP ≈ ~2 235 000 VND

Please note that when exchanging money at a bank or money transfer company, the exchange rate may differ from the central rate depending on fees and transaction conditions. SeABank customers should check at branches or via the SeABank app for the most accurate and updated exchange rates.

3. How to update the Philippine currency exchange rate accurately

The Philippine Peso exchange rate is affected by many factors such as BSP's monetary policy, investment flows into/out of the Philippines, fluctuations of USD, EUR and other major economies. To help SeABank customers be more proactive and safe when trading foreign currencies, here are instructions for updating effective exchange rates:

1. Sign up for exchange rate alerts: Customers can register for SMS Banking or push notification from the application to receive notifications immediately when there are major fluctuations.
2. Refer to official source from BSP: The BSP publishes the Reference Rate Report daily and has a historical database of the Peso's exchange rates against the USD and other foreign currencies.
3. Comparison with international market channels: For example Wise, XE, FX-Rate to get an overview and evaluate whether the bank is quoting rates lower or higher than average.
4. Note short-term fluctuations: Normally, the PHP/VND exchange rate fluctuates slightly within ±1% per week or month. For example, fx-rate records 1 PHP ≈ 0.0022338 PHP/VND (*) and changes ~-0.24% in 1 day. 

(*) Exchange rates are updated on November 13, 2025 and may change at any time.

Thanks to timely exchange rate updates, SeABank customers can make timely decisions: exchange foreign currency, transfer money internationally, send money to relatives or invest in the Philippine market.

Customers should update exchange rates on reputable websites for reference.

4. Reputable Philippine currency exchange address

When there is a need to exchange Philippine Peso or make a sending/receiving transaction from the Philippines, choosing a reputable address will help customers avoid risks and get better exchange rates. SeABank is one of the top choices with the following advantages:

At SeABank, customers get:

• Fast transactions, with clear receipts and protected by the official banking system; ensuring legal safety.
• Detailed advice on foreign currency exchange and international money transfer procedures, and notes on taxes or fees (if any).
• It is possible to open a foreign currency account at SeABank to conveniently store, transfer money and make payments in Philippine Peso (PHP), especially if customers frequently transact with the Philippines (such as studying abroad, working, investing).

Notes when exchanging Philippine currency:

• Ask for the buying and selling rates: banks usually have two different rates – “buy” (when the bank buys from customers) and “sell” (when customers buy foreign currency).
• Check transaction fees: While banks may post good exchange rates, they may also charge foreign exchange/transfer fees.
• Bring identification and declare the purpose of using foreign currency if the amount is large – to ensure compliance with foreign exchange management regulations.
• If you exchange at the airport or unofficial currency shops, the exchange rate is often less favorable and there may be risks.

Customers exchange Philippine Peso at SeABank counter.

Understanding about Philippine Peso (PHP) not only does it help SeABank customers be more proactive in converting foreign currencies, it is also an important step in carrying out international activities such as traveling, studying, sending money, investing or doing business with the Philippines.

If you need to exchange foreign currency or learn more about SeABank products, you can contact the nearest transaction points or call Hotline 1900 555 587 or visit the website www.seabank.com.vn for more details.