#Canadian dollar to php peso today update#
We update our Retail exchange rates frequently throughout the day based on many factors, including: You will pay different exchange rates and fees for those services and you should review the agreements governing services and the use of those cards for more information.įor each foreign currency purchase where we set the exchange rate, the exchange rate we use is a retail exchange rate, except for purchases and sales between banks and other large financial institutions in the interbank (wholesale) market where an interbank exchange rate is used. There are other services where we do not set the exchange rate, such as when you use your debit or credit card outside of Canada to withdraw cash from an ATM or make a purchase. The exchange rate we use is our applicable exchange rate in effect when the deposit is posted to your account. When funds to be deposited into your account with us are in a currency that is different from that account, such as with an incoming wire transfer, we convert the funds into the currency of your account, and then deposit them into your account. Receive a wire payment or deposit a cheque in a currency that is different from the currency of the account into which you are depositing the funds.įor these services, we will quote to you our applicable exchange rate for the transaction and you may choose whether or not to complete the transaction.Send a wire transfer in a currency that is different from the currency of the account you are sending from or.Purchase a draft in a currency that is different from the currency you are using to buy the draft.Purchase foreign currency in cash from us, or we purchase foreign currency in cash from you.We set the exchange rate for foreign currency purchases associated with many services, such as when you: Exchange rates fluctuate throughout the day. For example, the exchange rate determines how much in Canadian Dollars it will cost to purchase U.S. A foreign currency exchange is a purchase that occurs when you purchase foreign currency from us or we purchase foreign currency from you.Īn exchange rate is the price at which one currency can be purchased or sold for another currency. When we refer to foreign currency, we are referring to a currency other than Canadian Dollars. They allow for the globalization of trade, accessibility of travel, and diversification of investments.īecause forex rates, both in the Philippines and elsewhere, are always changing, the forex exchange rate today will most likely be different from the rate tomorrow.This information is for our Personal Banking Customers. These are some of the numerous ways in which foreign exchange markets operate and benefit the international economy. Conversely, the more sellers there are of one currency versus another, the lower its exchange rate tends to be. Prices are determined in this manner-the greater the demand for one currency versus another, the higher their exchange rate. Overseas workers may remit their Euros to their families, who would in turn, convert this into Pesos to spend. Retail clients may purchase Japanese yen for a travel holiday to Japan. Exporters, on the one hand, would likely seek to exchange their foreign currency revenues into Pesos in order to cover their operating expenses. For instance, importers may look to purchase US Dollars to pay their suppliers abroad. Although, there is no single entity that controls or dictates foreign exchange rates.įree market conditions generally prevail, which means that foreign currency exchange rates move based on supply and demand. Hence, central banks would occasionally employ policies to ensure market stability. Given the wide accessibility of foreign exchange markets, large movements and heightened volatility are unavoidable. The trading of foreign exchange is a global market activity where market participants generally consist of government institutions, financial institutions, fund managers, brokers, corporations and retail investors. Understanding the Foreign Currency Exchange Market For instance, if the Philippine foreign exchange rate vs USD is at 52.250, this means that 1 US dollar can be converted into 52.250 Philippine pesos.įoreign currency exchange rates are constantly changing without notice they can go up or down depending on market conditions, the perceived strength of the Philippines’ economy, and other factors that may not be related to its actual situation. Rates are quoted in Philippine peso (PHP).ĭifferent countries have different currencies, and it is through Foreign Exchange that people can convert the currency of one country into another.
Visit your nearest branch to know the actual rates for the day. These rates are indicative only and may change without prior notice. Indicative Foreign Exchange Rate as of J09:53 AM
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