Portal Login | Search
BAP Spot USD/PHP Today Previous
Date March 19, 2024 March 18, 2024
Open Time 09:00:27 09:00:16
Open 55.68 55.65
High 55.95 55.7
Low 55.67 55.515
Close 55.92 55.58
BAP AM Weighted Average 55.716 55.651
AM Volume 602.3 510.2
BAP PM Weighted Average 55.83 55.578
PM Volume 708.3 501.55
BAP Weighted Average 55.778 55.614
Total Volume 1310.6 1011.75
FX Settlement Rate 55.716 55.651
Updates every 15 minutes (March 19, 2024 7:01:pm)

Foreign Exchange Summary

View Disclaimer | View Historical Data
1 US Dollar equals

55.92 Philippine Peso

USD
PHP

Dollar - Peso Spot Rate

Closing as of Today

 

BAP FX Historical Data & PHP BVAL Reference Rates

Updated PHP BVAL Reference Rates can be accessed here.

NOTICE: Starting June 16, 2021, generation of BAP FX Summary PDF is postponed. You may find here the FX summary for 2024, 20232022, 2021, 2020, 2019, and 2018. All BAP FX data before June 16, 2021, can still be accessed through the PDF generator above.

*Note: If you cannot access the GSheets, it means that your organization has disabled the ability to receive items from outside your organization. Please use a different email in accessing the FX sheet.

Date Download
June 16, 2021
June 15, 2021
June 14, 2021
June 11, 2021
June 10, 2021
June 9, 2021
June 8, 2021
June 7, 2021
June 4, 2021
June 3, 2021
June 2, 2021
June 1, 2021
May 30, 2021
May 27, 2021
May 26, 2021
May 25, 2021
May 24, 2021
May 23, 2021
May 20, 2021
May 19, 2021
May 18, 2021
May 17, 2021
May 16, 2021
May 13, 2021
May 11, 2021
May 10, 2021
May 9, 2021
May 6, 2021
May 5, 2021
May 4, 2021
May 3, 2021
May 2, 2021
April 29, 2021
April 28, 2021
April 27, 2021
April 26, 2021
April 25, 2021
April 22, 2021
April 21, 2021
April 20, 2021
April 19, 2021
April 18, 2021
April 15, 2021
April 14, 2021
April 13, 2021
April 12, 2021
April 11, 2021
April 7, 2021
April 6, 2021
April 5, 2021
April 4, 2021
March 30, 2021
March 29, 2021
March 28, 2021
March 25, 2021
March 24, 2021
March 23, 2021
March 22, 2021
March 21, 2021
March 18, 2021
March 17, 2021
March 16, 2021
March 15, 2021
March 14, 2021
March 11, 2021
March 10, 2021
March 9, 2021
March 8, 2021
March 7, 2021
March 4, 2021
March 3, 2021
March 2, 2021
March 1, 2021
February 28, 2021
February 25, 2021
February 23, 2021
February 22, 2021
February 21, 2021
February 17, 2021
February 16, 2021
February 15, 2021
February 14, 2021
February 10, 2021
February 9, 2021
February 8, 2021
February 7, 2021
February 4, 2021
February 3, 2021
February 2, 2021
February 1, 2021
January 31, 2021
January 28, 2021
January 27, 2021
January 26, 2021
January 25, 2021
January 24, 2021
January 21, 2021
January 19, 2021
January 18, 2021
January 17, 2021
January 14, 2021
January 13, 2021
January 12, 2021
January 11, 2021
January 10, 2021
January 7, 2021
January 6, 2021
January 5, 2021
January 4, 2021
January 3, 2021
December 28, 2020
December 27, 2020
December 22, 2020
December 21, 2020
December 20, 2020
December 17, 2020
December 16, 2020
December 15, 2020
December 14, 2020
December 13, 2020
December 10, 2020
December 9, 2020
December 8, 2020
December 6, 2020
December 3, 2020
December 2, 2020
December 1, 2020
November 30, 2020
November 26, 2020
November 25, 2020
November 24, 2020
November 23, 2020
November 22, 2020
November 19, 2020
November 18, 2020
November 17, 2020
November 16, 2020
November 15, 2020
November 12, 2020
November 10, 2020
November 9, 2020
November 8, 2020
November 5, 2020
November 4, 2020
November 3, 2020
November 2, 2020
October 29, 2020
October 28, 2020
October 28, 2020
October 26, 2020
October 25, 2020
October 22, 2020
October 21, 2020
October 20, 2020
October 19, 2020
October 18, 2020
October 15, 2020
October 14, 2020
October 13, 2020
October 12, 2020
October 11, 2020
October 8, 2020
October 7, 2020
October 6, 2020
October 5, 2020
October 4, 2020
October 1, 2020
September 30, 2020
September 29, 2020
September 28, 2020
September 27, 2020
September 24, 2020
September 23, 2020
September 22, 2020
September 21, 2020
September 20, 2020
September 17, 2020
September 16, 2020
September 15, 2020
September 14, 2020
September 13, 2020
September 10, 2020
September 9, 2020
September 8, 2020
September 7, 2020
September 6, 2020
September 3, 2020
September 2, 2020
September 1, 2020
August 31, 2020
August 27, 2020
August 26, 2020
August 25, 2020
August 24, 2020
August 23, 2020
August 19, 2020
August 18, 2020
August 18, 2020
August 16, 2020
August 13, 2020
August 12, 2020
August 11, 2020
August 10, 2020
August 9, 2020
August 6, 2020
August 5, 2020
August 4, 2020
August 3, 2020
August 2, 2020
February 27, 2020
February 26, 2020
February 25, 2020
February 24, 2020
February 19, 2020
February 11, 2020
February 10, 2020
February 9, 2020
February 8, 2020
February 3, 2020
January 31, 2020
January 30, 2020
January 29, 2020
January 28, 2020
January 27, 2020
January 24, 2020
January 23, 2020
January 22, 2020
January 21, 2020
January 20, 2020
January 17, 2020
January 16, 2020
January 15, 2020
January 14, 2020
January 13, 2020
December 31, 2019
December 30, 2019
December 29, 2019
December 28, 2019
December 25, 2019
December 24, 2019
December 23, 2019
December 22, 2019
December 21, 2019
December 17, 2019
December 16, 2019
December 15, 2019
December 14, 2019
December 11, 2019
December 10, 2019
December 9, 2019
December 8, 2019
December 7, 2019
November 2, 2019
November 1, 2019
October 31, 2019
October 30, 2019
October 26, 2019
October 25, 2019
October 24, 2019
October 23, 2019
October 22, 2019
October 19, 2019
October 18, 2019
October 17, 2019
October 16, 2019
October 15, 2019
October 12, 2019
October 11, 2019
October 10, 2019
October 9, 2019
October 8, 2019
September 27, 2019
September 26, 2019
September 25, 2019
September 24, 2019
September 21, 2019
September 20, 2019
September 19, 2019
September 18, 2019
September 17, 2019
September 14, 2019
September 13, 2019
September 12, 2019
September 11, 2019
September 10, 2019
September 5, 2019
September 4, 2019
September 3, 2019
August 31, 2019
August 30, 2019
August 29, 2019
August 28, 2019
August 27, 2019
August 24, 2019
August 23, 2019
August 22, 2019
August 21, 2019
August 20, 2019
August 17, 2019
August 16, 2019
August 15, 2019
August 13, 2019
August 10, 2019
August 9, 2019
August 8, 2019
August 7, 2019
August 6, 2019
August 3, 2019
August 2, 2019
August 1, 2019
July 31, 2019
July 30, 2019
July 27, 2019
July 26, 2019
July 25, 2019
July 23, 2019
July 20, 2019
July 19, 2019
July 18, 2019
July 17, 2019
July 16, 2019
July 13, 2019
July 12, 2019
July 11, 2019
July 10, 2019
July 9, 2019
July 6, 2019
July 5, 2019
July 4, 2019
July 3, 2019
July 2, 2019
June 29, 2019
June 28, 2019
June 27, 2019
June 26, 2019
June 25, 2019
June 22, 2019
June 21, 2019
June 20, 2019
June 19, 2019
June 15, 2019
June 14, 2019
June 13, 2019
June 12, 2019
June 11, 2019
June 8, 2019
June 7, 2019
June 6, 2019
June 5, 2019
June 4, 2019
June 1, 2019
May 31, 2019
March 2, 2019
March 1, 2019
February 26, 2019
February 23, 2019
February 22, 2019
February 21, 2019
February 20, 2019
February 19, 2019
February 16, 2019
February 15, 2019
February 14, 2019
February 13, 2019
February 12, 2019
February 9, 2019
February 8, 2019
February 7, 2019
February 6, 2019
February 5, 2019
February 2, 2019
February 1, 2019
January 31, 2019
January 30, 2019
January 29, 2019
January 26, 2019
January 25, 2019
January 24, 2019
January 23, 2019
January 22, 2019
January 19, 2019
January 18, 2019
January 17, 2019
January 16, 2019
January 15, 2019
January 12, 2019
January 11, 2019
January 10, 2019
January 9, 2019
January 8, 2019
January 4, 2019
January 2, 2019
January 1, 2019
December 31, 2018
December 28, 2018
December 27, 2018
December 26, 2018
December 25, 2018
December 24, 2018
December 21, 2018
December 20, 2018
December 19, 2018
December 18, 2018
December 17, 2018
December 14, 2018
December 13, 2018
December 12, 2018
December 11, 2018
December 10, 2018
December 7, 2018
December 6, 2018
December 5, 2018
December 4, 2018
December 3, 2018
November 30, 2018
November 29, 2018
November 28, 2018
November 27, 2018
November 26, 2018
November 23, 2018
November 22, 2018
November 21, 2018
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 7, 2018
November 7, 2018
November 6, 2018
November 5, 2018
November 2, 2018
November 1, 2018
October 31, 2018
October 30, 2018
October 26, 2018
October 25, 2018
September 22, 2018
September 21, 2018
October 19, 2018
October 18, 2018
October 17, 2018
October 16, 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

 

TERM PHIREF
11:30
PHIREF
16:00
TOTAL VOLUME
ON PHIREF #N/A Real Time #N/A Real Time #N/A N/A
SW PHIREF #N/A Real Time #N/A Real Time #N/A N/A
1M PHIREF #N/A Real Time #N/A N/A #N/A N/A
2M PHIREF #N/A Real Time #N/A N/A #N/A N/A
3M PHIREF #N/A Real Time #N/A N/A #N/A N/A
6M PHIREF #N/A Real Time #N/A N/A #N/A N/A
1Y PHIREF #N/A Real Time #N/A Real Time #N/A N/A
Tenor Original PHIREF Rate Record day Calculation Date PHIREF Fallback
FBPHRFON Index ON 3/18/2024 3/18/2024 6.352
FBPHRF1M index 1M 2/21/2024 3/18/2024 6.08
FBPHRF3M index 3M 12/20/2023 3/18/2024 5.705
FBPHRF6M index 6M 9/20/2023 3/18/2024 6.188

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
1 ANZ ANZP
2 ASIA UNITED BANK CORPORATION AUBK
3 BANGKOK BANK PLC BKPH
4 BANK OF AMERICA BAPH
5 BANK OF CHINA BCPH
6 BANK OF COMMERCE BKCP
7 BANK OF THE PHILIPPINE ISLANDS BPIM
8 BANK OF TOKYO MITSUBISHI TMPH
9 BDO PRIVATE BANK INC. PBDO
10 CTBC BANK (PHILIPPINES) CORP. CCBM
11 BDO UNIBANK, INC. BDOP
12 CATHAY UNITED BANK CUBP
13 CHINA BANKING CORPORATION CBCM
14 CITIBANK, N.A. CIPH
15 CTBC BANK (PHILIPPINES) CORP. CCBM
16 DEUTSCHE BANK AG, MANILA BRANCH DBPH
17 DEVELOPMENT BANK OF THE PHILIPPINES DEVP
18 EAST WEST BANKING CORPORATION EWBM
19 THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED HBPH
20 ING BANK N.V., MANILA BRANCH INGU
21 JP MORGAN CHASE BANK, N.A. MANILA BRANCH JPPH
22 LAND BANK OF THE PHILIPPINES LBPH
23 MAYBANK PHILIPPINES, INC. MBBP
24 MEGA INTERNATIONAL COMMERCIAL BANK MECB
25 METROPOLITAN BANK & TRUST COMPANY MBML
26 MIZUHO BANK MIZM
27 PHILIPPINE BANK OF COMMUNICATIONS PBCP
28 PHILIPPINE NATIONAL BANK PNBM
29 PHILIPPINE TRUST COMPANY PTCB
30 PHILIPPINE VETERANS BANK PVBM
31 RIZAL COMMERCIAL BANKING CORPORATION RCBZ
32 ROBINSONS BANK CORPORATION ROBI
33 SECURITY BANK CORPORATION SBMN
34 SHINHAN BANK SHPH
35 STANDARD CHARTERED BANK SCML
36 SUMITOMO MITSUI BANKING CORP SMPH
37 UNION BANK OF THE PHILIPPINES UBPH
38 UNITED COCONUT PLANTERS BANK UCPB
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.