BAP Spot USD/PHP Today Previous
DateNovember 21, 2018November 20, 2018
Open Time09:00:4009:00:24
Open52.4952.53
High52.6152.63
Low52.4252.39
Close-52.39
BAP AM Weighted Average52.55652.594
AM Volume390.1309.4
BAP PM Weighted Average-52.492
PM Volume-454.41
BAP Weighted Average52.55652.533
Total Volume390.1763.81
FX Settlement Rate52.55652.594
Updates every 15 minutes

Foreign Exchange Summary

View Disclaimer | View Historical Data
1 US Dollar equals

52.39 Philippine Peso

USD
PHP
Chart of exchange rate values over time

Dollar - Peso Spot Rate

Closing as of Today

 

DateDownload
November 20, 2018
November 19, 2018
November 16, 2018
November 15, 2018
November 14, 2018
November 13, 2018
November 12, 2018
November 9, 2018
November 8, 2018
November 7, 2018
November 6, 2018
November 5, 2018
October 31, 2018
October 30, 2018
October 29, 2018
October 26, 2018
October 25, 2018
October 24, 2018
October 23, 2018
October 22, 2018
October 19, 2018
October 18, 2018
October 17, 2018
October 16, 2018
October 15, 2018
October 12, 2018
October 11, 2018
October 10, 2018
October 9, 2018
October 8, 2018
October 5, 2018
October 4, 2018
October 3, 2018
October 2, 2018
October 1, 2018
September 28, 2018
September 27, 2018
September 26, 2018
September 25, 2018
September 24, 2018
September 21, 2018
September 20, 2018
September 19, 2018
September 18, 2018
September 17, 2018
September 14, 2018
September 13, 2018
September 12, 2018
September 11, 2018
September 10, 2018
September 7, 2018
September 6, 2018
September 5, 2018
September 4, 2018
September 3, 2018
August 31, 2018
August 30, 2018
August 29, 2018
August 28, 2018
August 24, 2018
August 23, 2018
August 22, 2018
August 20, 2018
August 17, 2018
August 16, 2018
August 15, 2018
August 14, 2018
August 13, 2018
August 10, 2018
August 9, 2018
August 8, 2018
August 7, 2018
August 6, 2018
August 3, 2018
August 2, 2018
August 1, 2018
July 31, 2018
July 30, 2018
July 27, 2018
July 26, 2018
July 25, 2018
July 24, 2018
July 23, 2018
July 20, 2018
July 19, 2018
July 18, 2018
July 17, 2018
July 16, 2018
July 13, 2018
July 12, 2018
July 11, 2018
July 10, 2018
July 9, 2018
July 6, 2018
July 5, 2018
July 4, 2018
July 3, 2018
July 2, 2018
June 29, 2018
June 28, 2018
June 27, 2018
June 26, 2018
June 25, 2018
June 22, 2018
June 21, 2018
June 20, 2018
June 19, 2018
June 18, 2018
June 14, 2018
June 13, 2018
June 11, 2018
June 8, 2018
June 7, 2018
June 6, 2018
June 5, 2018
June 4, 2018
June 1, 2018
May 31, 2018
May 30, 2018
May 29, 2018
May 28, 2018
May 25, 2018
May 24, 2018
May 23, 2018
May 22, 2018
May 21, 2018
May 18, 2018
May 17, 2018
May 16, 2018
May 15, 2018
May 11, 2018
May 10, 2018
May 9, 2018
May 8, 2018
May 7, 2018
May 4, 2018
May 3, 2018
May 2, 2018
April 30, 2018
April 27, 2018
April 26, 2018
April 25, 2018
April 24, 2018
April 23, 2018
April 20, 2018
April 19, 2018
April 18, 2018
April 17, 2018
April 16, 2018
April 13, 2018
April 12, 2018
April 11, 2018
April 10, 2018
April 6, 2018
April 5, 2018
April 4, 2018
April 3, 2018
April 2, 2018
May 30, 2018

BAP FX Historical Data

 

Updated PHP BVAL Reference Rates can be accessed here.

Peso Yield Curve

PDST Reference Rates
 
TERMPHIREF
11:30
PHIREF
16:00
TOTAL VOLUME
ON PHIREF4.2783.751474
SW PHIREF4.6584.65880
1M PHIREF4.5864.464125
2M PHIREF4.9465.06480
3M PHIREF5.3035.272145
6M PHIREF5.7215.721
1Y PHIREF5.935.93

PHIREF

Philippine Interbank Reference Rate

FAQs

1. What is a Foreign Exchange (FX) Spot transaction?

It is a contractual agreement between two Parties for the purchase and/or sale by a Party of an agreed amount in one Currency against the other.

In the Philippines, two Parties enter into a contractual agreement for the purchase and/or sale by a Party of an agreed amount in US Dollar (USD) against the sale and/or purchase by it to the other Party of an agreed amount in Philippine Peso (PHP). The FX spot transaction is also referred specifically as the US Dollar-Philippine Peso (USD/PHP) spot transaction. The USD is the commodity currency while the PHP is the term currency. This represents the conversion of one (1) US Dollar in terms of Philippine Pesos.

2. Who can participate in the FX spot USD/PHP market?

The FX spot market is an interbank market where only universal and commercial banks that are 1) duly authorized by the Bangko Sentral ng Pilipinas and 2) are members of the BAP can participate in the USD/PHP spot trading.

3. Who are the FX spot USD/PHP participants?

As of 31 December 2016, the participating member banks are the following:

  BAP Member Banks Code
1ANZANZP
2ASIA UNITED BANK CORPORATIONAUBK
3BANGKOK BANK PLCBKPH
4BANK OF AMERICABAPH
5BANK OF CHINABCPH
6BANK OF COMMERCEBKCP
7BANK OF THE PHILIPPINE ISLANDSPBDO
8BANK OF TOKYO MITSUBISHITMPH
9BDO PRIVATE BANK INC.PBDO
10CTBC BANK (PHILIPPINES) CORP.CCBM
11BDO UNIBANK, INC.BDOP
12CATHAY UNITED BANKCUBP
13CHINA BANKING CORPORATIONCBCM
14CITIBANK, N.A.CIPH
15CTBC BANK (PHILIPPINES) CORP.CCBM
16DEUTSCHE BANK AG, MANILA BRANCHDBPH
17DEVELOPMENT BANK OF THE PHILIPPINESDEVP
18EAST WEST BANKING CORPORATIONEWBM
19THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITEDHBPH
20ING BANK N.V., MANILA BRANCHINGU
21JP MORGAN CHASE BANK, N.A. MANILA BRANCHJPPH
22LAND BANK OF THE PHILIPPINESLBPH
23MAYBANK PHILIPPINES, INC.MBBP
24MEGA INTERNATIONAL COMMERCIAL BANKMECB
25METROPOLITAN BANK & TRUST COMPANYMBML
26MIZUHO BANKMIZM
27PHILIPPINE BANK OF COMMUNICATIONSPBCP
28PHILIPPINE NATIONAL BANKPNBM
29PHILIPPINE TRUST COMPANYPTCB
30PHILIPPINE VETERANS BANKPVBM
31RIZAL COMMERCIAL BANKING CORPORATIONRCBZ
32ROBINSONS BANK CORPORATIONROBI
33SECURITY BANK CORPORATIONSBMN
34SHINHAN BANKSHPH
35STANDARD CHARTERED BANKSCML
36SUMITOMO MITSUI BANKING CORPSMPH
37UNION BANK OF THE PHILIPPINESUBPH
38UNITED COCONUT PLANTERS BANKUCPB
4. What does the published FX spot USD/PHP rates mean?

The published FX spot USD/PHP rates are results of the interbank trading which generates the reference rates for the daily conversion of one (1) US Dollar to Philippine Pesos. Since these are interbank bank rates, these are only the basis for the purchase or sale of US Dollars in terms of Philippine Peso for non-FX spot market participant.

1. What are Philippine Interest Rates?

The Philippine interest rates are interest rates primarily based on the following:

  • a. Interbank Call Loan (IBCL) rates
    or the borrowing and lending rates between and among banks
  • b. Bangko Sentral ng Pilipinas (BSP) rates
    which are the borrowing and lending facilities of the central bank to the banks through its Interest Rate Corridor (IRC). The IRC implemented by the BSP covers the Overnight Lending Facility (OLF), Overnight Deposit Facility (ODF), Time Deposit Facility (TDF) and Reverse Repurchase (RRP).
  • c. Government Securities (GS)
    wherein the interest rates are based on the rate at which the National Government is willing to pay when they borrow from the local market through the issuance of GS. The market where the Bureau of the Treasury conducts its auction is referred to as the primary market. Only Government Securities Eligible Dealers (GSEDs) are allowed to participate in the primary market.
2. What are the types of Government Securities?
  • There are two kinds of GS:
    • a. Treasury bills
      Treasury Bills are government securities that mature in less than a year. There are three tenors of Treasury Bills: (1) 91-day, (2) 182-day and (3) 364-day Bills. The number of days is based on the universal practice around the world of ensuring that the bills mature on a business day. Treasury Bills are quoted either by their yield rate, which is the discount, or by their price based on 100 points per unit. Treasury Bills that mature in less than 91 days are called Cash Management Bills (e.g. 35-day, 42-day).
    • b. Treasury bonds
      Treasury Bonds are government securities that mature beyond one year. At present there are five maturities of bonds: 2- year; 5 – year; 7 – year; 10 – year and 20-year. These are sold at its face value on origination. The yield is represented by the coupons, expressed as a percentage of the face value on per annum basis, and is payable semi-annually.
3. What are Treasury Rate Benchmarks?

These are the rates derived from the trading of GS in the secondary market. The Philippine Dealing and Exchange Corp. (PDEx) is an SEC-licensed self-regulatory organization for fixed income securities. GS transactions that are captured and calculated to form a benchmark are fixed income securities dealt only by authorized PDEx trading participants. These benchmarks are referred to PDS Reference Rates.

4. What are PDS Reference Treasury Rates?

These are benchmark rates calculated in compliance with BSP Circular No. 813 with subject Amendment on Market Valuation of Government Securities by the BAP-appointed calculating agent pursuant to BSP Memorandum No. M-2007-006 with subject: Mark-to-Market Valuation of Debt and Equity Securities – Benchmark/Reference Prices.

These PDS Reference Rates are referred to as PDST-R1 and PDST-R2. PDST-R1 reference rates are calculated daily every 11:15AM while PDST-R2 reference rates are calculated daily every 4:15PM.

5. What are the possible uses of PDST-R1 and PDST-R2?

The published PDS reference rates or benchmarks can be used as basis to compute the lending rate of banks; while private bond issuers, on the other hand, may use these reference rates as the basis for the rates of their corporate issuances.

1. What is a derivative?

Derivative is any financial instrument which expresses a contractual relationship between two or more parties whose payment is based on or derived (thus the term “derivative”) from some pre-agreed benchmark or underlying instrument.

Generally, these benchmarks or underliers include foreign exchange rates, interest rates, commodity prices or stock indices.

2. What is an Interest Rate Swap (IRS)?

The IRS is a derivative which allows for a contractual agreement between parties to exchange floating rate debt service for a fixed rate debt service.
PHIREF or the Philippine Interbank Reference Rate is the implied Peso interest rate derived from done deals in the interbank foreign exchange swap market. The PHIREF is used as the benchmark for the reset value for the Peso floating leg of an Interest Rate Swap.

3. What is PHIREF?

PHIREF or the Philippine Interbank Reference Rate is the implied Peso interest rate derived from done deals in the interbank foreign exchange swap market. The PHIREF is used as the benchmark for the reset value for the peso floating leg of an Interest Rate Swap.