peso philippines exchange rate
Posted in Philippines General Information on 08/29/2010 03:05 am by admin
Philippines Peso vs U.S. Dollar?
I am confused with the rate of change. So my U.S. Dollar is equivalent to 44.5 pesos (approx)? Let me understand this correctly. U.S. Dollar mine that I use in the Philippines, you should go about twice as far in the Philippines? Someone please explain it to me so it is clear in my head. If a pair of shoes cost me $ 100 to buy in the states, about 50 dollars for such shoes in the Philippines? I need to make sure I understand this as I was traveling there soon and thought if I had $ 2000 for a 17-day trip (only for my spending money) that would be enough for me and my girl friend to enjoy our time together. 2000 would seem to prefer U.S. Dollars 4,000 U.S. Dollars in the Philippines? I'm sure This is all simple to understand, but I do not see it yet. I paid for Hotle and Air Fares in U.S. dollars so I can easily figure head.Thanks
exchange rate has nothing to do with purchasing power directly. This will impact the prices of local goods whether imported or made from imported goods. keep your mind that the minimum wage is less than $ 8 a DAY. As far as how far your money well almost all up to you, what would you do and where you are going. also your goal, you will come to visit your gf and to learn more about him, and his country or you are coming to impress him? For example your money will go a little bit more in Subic bay or Angeles city after Manila or cebu. but even the city could do with a reasonable rates. $ 5 or 6 will buy you a reasonable dinner in many restaurants. here in a movie will cost you about $ 2.50 a person, the last time I went A film states that it is about $ 8. what's your night be like? If you are "bar hopping" in manila or angeles and buy a number of "ladies drink "it will add up quickly. I live in Subic Bay area and if I can out with some friends to listen to live bands we usually costs less than $ 5 each, beers are about a dollar each or less in areas with no live entertainment. outing can be a huge cost but if you look you around this easy to store your money without giving up anything. Some days you will spend more than others, I am sure there are a number of days where you just chill on a beach and maybe spend just a little. transportation is often a huge expense for the first visit, taxis are expensive compared to other transportation and can add up quickly. if your gf is Filipino and from the place you are visiting I'm sure he can show you the local transportation. When I visited friends, most of our short trips are made by jeepney, jeepney ride a .50 cent is better than a $ 15 taxi in many cases. Cash items: I disagree with the recommendation to bring travelers checks, they are very difficult to cash. most hotels will not accept them, no shops and even banks can be difficult. if you do you should have copies of your passport to give them as well as copies of receipts where you bought the travelers would checks.i suggest using your ATM card. ATM machines are every where and you can draw when necessary. Only draw backs are machine is often empty on Sunday and your bank may charge $ 5 a withdraw. I recommended my friend to withdraw up to 10,000 pesos to one withdraw about $ 250. as extra protection I would suggest a preloaded MasterCard or visa card. get a few of them and spread your money to them. I would say $ 2,000 spending money is more than enough especially if your gf is really looking out for you
08/29/2010 at 1:05 pm
Hi, I’m having a little trouble completely understanding your question but I will try…
Yes if the exchange rate is 45 to 1 as it is today (rounded off) then you will get 45 Peso per dollar. That does NOT mean you will be 45 times richer. That would be awesome though. haha
How far your money goes depends on what you spend it on. If you stay in Five Star resort hotels like Marriot, it wont go far. It will go about as far as it does in the USA.
But if you stay in a Filipino style pension house you’ll save a lot of money. Dining out can be VERY cheap but it can be very expensive (see five star hotels).
Labor in the Philippines is very cheap. Electronics, at the same quality you pay for in the USA will be a bit more in the Philippines if you can find the same quality. High end gaming computers? I ordered the parts for my last one from the USA and shipped them here.
$2000 is enough to live nicely for a whole month but again, it depends on how you spend it. A pension house in Manila is around P1500 a night (on the low end) and in cebu City its P600.
I go to the BBQ in Bogo City for P300 and have a couple of beers and bloat myself on pork chops. Or you can go to Pizza Hut in Cebu City where you’ll pay about P750. You wont find anything close to a Pizza Hut in Bogo city but we do have a Pizza Pub and going there cost almost as much as a Pizza Hut but its not as good.
Now go to Bantayan Island and stay at Tristan’s resort for P1000 a night and hear the ocean lap at the door step and waited on hand and foot by the owner, Nancy and spend about P2000 a day.
Its hard to answer your question but you should have enough cash with 2000 but not if you want to live like a king.
I hope that helps.
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