PHP Deposit Rates
The currency of the Philippines is the Philippine Peso. The currency code of the Peso is PHP. The PHP is distributed by The Bangko Sentral ng Pilipinas or The Central Bank of the Philippines. Since 2009, The PHP became one of the most stable currencies in the world, together with the USD, U.K. Pound and the Japanese Yen.
As of 2011, there was an important increase in the value of peso as compared to U.S. dollar. The Philippine Peso exchange rate was updated in the 7th of June 2011 by the International Monetary Fund with the 6 significant digits of conversion factor Presently, it has a gliding relationship with the U.S dollar with the exchange rate of USD1=42.5but the Central Bank of the Philippines often arbitrates the currency.