The Philippine peso is trading at ₱57.91 per US dollar as of February 19, 2026 - and after hitting record lows near ₱59.50 in January, the currency has bounced back sharply. Whether you are sending remittances home, planning a trip, or managing cross-border payments, tracking the php to usd exchange rate matters more than ever in 2026.
⚡ Quick Answer
As of February 20, 2026, 1 Philippine Peso = $0.01723 USD, or equivalently 1 USD = ₱58.05 PHP. The peso has strengthened roughly 2.4% over the past month after the BSP cut its policy rate to 4.25% and record remittance inflows boosted the currency. For quick math: ₱1,000 = $17.23, ₱10,000 = $172.30, and ₱100,000 = $1,723.
Philippine Peso to USD Converter - Quick Reference Table
Converting php to dollar today is straightforward once you know the live rate. The table below uses the mid-market exchange rate of ₱58.05 per dollar - the rate banks trade between themselves. Your actual rate at banks or remittance services will include a small spread.
How Much Is 1 Peso in USD?
Right now, 1 Philippine peso equals approximately $0.01723 US dollars. Put another way, you need roughly ₱58 to buy a single US dollar. This rate fluctuates throughout the trading day - the forex market operates 24 hours a day, five days a week, from Monday morning in Sydney to Friday evening in New York.
The best time to convert php to usd is typically between 3-4 PM GMT, when currency market liquidity tends to peak and spreads are tightest.
PHP to USD Exchange Rate - What's Driving the Peso in 2026?
The philippine peso rate today doesn't move randomly - it reflects a complex mix of economic forces. Understanding these drivers helps you time your conversions better and anticipate where the peso dollar exchange is heading.
BSP Interest Rate Decisions
The single biggest factor influencing the php to usd exchange rate right now is monetary policy. The Bangko Sentral ng Pilipinas (BSP) cut its benchmark rate to 4.25% on February 19, 2026 - a sixth consecutive cut that brought cumulative reductions to 225 basis points since the easing cycle began in August 2024.
Lower interest rates generally weaken a currency because foreign investors earn less on peso-denominated deposits. However, the peso has paradoxically strengthened in recent weeks because markets had already priced in the cut and broader investor confidence is returning.
BSP Governor Eli Remolona indicated this may be the final cut in the current cycle, though economists at the Economist Intelligence Unit project the BSP could still deliver 75-100 bps of additional cuts if growth disappoints further.
Record OFW Remittances
Overseas Filipino Worker (OFW) remittances remain a structural pillar of peso strength. Full-year 2025 inflows hit a record $35.63 billion, up 3.3% year-over-year. December alone saw $3.52 billion - also a record. These flows are equivalent to 7.3% of GDP and represent constant demand for pesos as workers convert dollars to send home.
The United States remains the largest source, accounting for 39.7% of total remittances, followed by Singapore (7.3%) and Saudi Arabia (6.6%).
Economic Growth and Confidence
The Philippine economy has been under pressure from a flood-control corruption scandal that rattled investor confidence throughout late 2025. GDP growth slowed to roughly 3.0% year-over-year in Q4 2025, among the weakest readings in the region.
However, early 2026 signals suggest a recovery is underway. Foreign investors have purchased about $266 million of Philippine stocks year-to-date, the benchmark PSE index is up approximately 8%, and the BSP forecasts GDP growth rebounding to 4.6% for full-year 2026.
⚠ Risk Warning
The peso hit a record low near ₱59.50 per dollar in January 2026 before bouncing back. External risks - including potential US tariff impacts and ongoing geopolitical tensions in the South China Sea - could push the rate back above ₱59. Don't assume the current strength will last; always hedge large conversions.
Philippine Peso Rate Today vs. Historical Performance
Understanding where the philippine peso rate has been helps put today's number in perspective and gives clues about where it might go next.
📅 PHP/USD Exchange Rate Timeline
June 2021 - Peso Peak (10-Year High)
1 PHP = $0.0210 (≈ ₱47.6/USD). The peso's strongest reading in a decade, driven by pandemic-era dollar weakness and strong remittance flows.
2022-2023 - Fed Hiking Cycle
Aggressive US rate hikes pushed the peso from ~₱51/USD to above ₱58/USD as the interest rate gap widened sharply.
January 14, 2026 - Record Weak
PHP touched ₱59.50/USD - a record low - after BSP signaled further rate cuts and confidence slumped due to the flood-control scandal.
February 2026 - Current Recovery
Peso has rallied to ~₱57.9/USD, supported by record remittances, returning foreign equity inflows, and improving sentiment. The strongest reading since October 2025.
In 2026 so far, the peso dollar exchange has ranged between ₱57.85 and ₱59.50 per dollar, with an average of ₱58.86. That average translates to roughly $0.01699 per peso. The peso has gained about 1.37% against the dollar year-to-date, a welcome reversal after 2025's losses.
Over the past decade, the PHP/USD rate declined roughly 14.6%, meaning the peso's purchasing power against the dollar has eroded over time. This long-term trend is driven by persistent trade deficits and the structural interest rate gap between the US and the Philippines.
1000 Pesos to USD - And Other Common Conversions
The question "how much is 1000 pesos to usd?" is one of the most searched queries for Filipinos abroad and anyone dealing with cross-border payments. At today's rate, ₱1,000 equals approximately $17.23.
Here is what common peso amounts look like in dollars right now:
₱1,000 gets you $17.23. A year ago on the same date, it was worth about $17.23 as well - the rate has barely changed over 12 months, with the peso up just 0.05% year-over-year.
₱25,000 (a common monthly remittance) converts to roughly $430.75. If you're sending this amount via bank wire, you might lose $10-20 in fees alone - plus another 1-3% on the exchange rate spread.
₱100,000 converts to approximately $1,723. At this level, choosing the right transfer method can save you $30-50 compared to traditional bank transfers.
For freelancers being paid in PHP and converting to USD, or OFWs sending dollars home for conversion to pesos, understanding these amounts helps with monthly budgeting and identifying the best conversion windows.
PHP to USD 2026 - Outlook and Forecast
Where is the peso headed for the rest of 2026? Analysts have mixed but cautiously optimistic views on the philippine peso rate for the months ahead.
📈 Bullish Factors for PHP Strength
- Record remittances: $35.63B in 2025 provides a steady floor of peso demand, and 2026 flows are tracking higher.
- Easing cycle nearing end: BSP signals the 4.25% rate may be close to terminal, limiting further peso weakness from rate differentials.
- Returning foreign investment: $266M of net foreign equity purchases YTD 2026 and PSE index rallying 8%.
- GDP recovery expected: BSP forecasts 4.6% growth in 2026, with Metrobank projecting a second-half acceleration.
📉 Bearish Factors for PHP Weakness
- US rate differential: If the Fed holds rates elevated while BSP cuts further, the interest gap widens against the peso.
- Governance overhang: The flood-control scandal continues to dampen investor confidence and has slowed government spending.
- Balance of payments deficit: The Philippines posted a $4.6B deficit through October 2025, reflecting weaker FDI inflows and wider trade gaps.
- Global trade risks: Potential US tariffs and South China Sea tensions could trigger risk-off sentiment in Philippine assets.
Metrobank expects the BSP policy rate to reach 4.00% by year-end - which would be the lowest since August 2022. If this materializes, the peso could weaken modestly from current levels. However, ING analysts note that the limited pass-through from peso weakness to domestic inflation gives the BSP comfort to maintain its easing stance.
The consensus view suggests the USD/PHP rate will likely trade in a ₱57-60 range through 2026, with the peso biased slightly weaker over the medium term due to external headwinds.
🎯 Key Takeaways
- The php to usd rate stands at approximately $0.01723 per peso (₱58.05/USD) as of February 20, 2026.
- 1,000 pesos = $17.23 at mid-market rates - but fees and spreads can reduce this by 1-3%.
- The peso has strengthened 2.4% from its January record low of ₱59.50, boosted by record remittances and returning equity inflows.
- BSP cut rates to 4.25% on Feb 19, 2026 - the sixth consecutive cut - and signals the easing cycle may be near its end.
- Expect the USD/PHP rate to trade in the ₱57-60 range for the remainder of 2026.
Best Ways to Convert PHP to USD in 2026
Choosing the right method to convert php to usd can save you significant money, especially on recurring transfers. Here is how the main options compare.
Bank Wire Transfers remain the most common method for large sums. Philippine banks like BDO, BPI, and Metrobank offer international wire services. Expect spreads of 1-2% above mid-market plus flat fees of $15-30. The advantage is security and direct bank-to-bank transfer; the downside is cost and speed (2-5 business days).
Online Money Transfer Services such as Wise, Remitly, and Revolut typically offer rates within 0.3-0.7% of mid-market with lower flat fees. Transfers arrive within minutes to 1-2 days depending on the method. These are usually the best option for remittances under $5,000.
Cryptocurrency and Stablecoins offer an alternative path. Converting PHP to a stablecoin like USDT on a crypto exchange, then sending it instantly to any wallet worldwide, bypasses traditional banking rails entirely. Transaction fees can be under $1 on networks like Tron or Solana. The trade-off: you need familiarity with crypto exchanges and wallets, and the process involves two conversion steps (PHP → USDT → USD).
Forex Brokers and Money Changers in physical locations (airports, malls) are convenient but typically offer the worst rates - markups of 3-5% are common. Use these only for small emergency conversions.
Frequently Asked Questions
What is the PHP to USD exchange rate today?
As of February 20, 2026, 1 Philippine Peso equals approximately $0.01723 USD, or equivalently 1 US Dollar buys around ₱58.05. The rate fluctuates throughout the trading day based on forex market conditions. For the most current rate, check live converters from Bloomberg or Wise before making any conversion.
How much is 1,000 pesos in US dollars?
At the current mid-market exchange rate, ₱1,000 Philippine Pesos equals approximately $17.23 US Dollars. The actual amount you receive will be slightly less depending on your conversion method - banks typically charge 1-2% above mid-market, while services like Wise stay within 0.3-0.7%.
Is the Philippine peso getting stronger or weaker in 2026?
The peso has shown mixed signals in 2026. It hit a record weak level near ₱59.50/USD in January but has since recovered to around ₱58/USD in February - a roughly 2.4% strengthening in just one month. The recovery was driven by record remittances, returning foreign investors, and improving economic sentiment.
What affects the PHP to USD exchange rate?
The key factors include BSP interest rate decisions, the US Federal Reserve's policy stance, OFW remittance volumes, foreign investment flows into Philippine stocks and bonds, GDP growth figures, inflation data, and geopolitical developments including South China Sea tensions and trade policy from the US.
What is the best way to convert PHP to USD?
For most people, online money transfer services like Wise, Remitly, or Revolut offer the best combination of competitive rates and low fees. For large amounts ($10,000+), negotiating with your bank's forex desk may yield better rates. For tech-savvy users, converting PHP to stablecoins on crypto platforms and sending them internationally offers near-zero fees but requires more steps.
Will the peso reach ₱60 per dollar in 2026?
It's possible but not the base case. The peso briefly tested ₱59.50 in January 2026 before reversing. Analysts see the ₱57-60 range as the likely trading band for 2026. A breach above ₱60 would likely require a combination of further BSP rate cuts, a deteriorating growth outlook, and an external shock like escalating trade tensions.
How do cryptocurrency stablecoins compare to traditional forex for PHP/USD conversion?
Stablecoins like USDT are pegged 1:1 to the US dollar and can be transferred globally in minutes for under $1 in fees. The catch is you need to convert PHP to USDT on a local exchange first (which incurs a spread), then convert USDT back to USD at the destination. For recurring large transfers, this can be cheaper than banks - but it requires understanding of blockchain technology and carries smart contract risks.
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Start Trading Now →⚠ Disclaimer: The information provided in this article is not intended to provide investment or financial advice. Exchange rates fluctuate constantly, and the rates mentioned are approximate based on mid-market data at the time of writing. Investment decisions should be based on the individual's financial needs, objectives, and risk profile. We encourage readers to verify current exchange rates before making any currency conversions. Cryptocurrency investments are subject to high market risk. Past performance does not guarantee future results.
