When you’re planning your trip to the Philippines, you need to get familiar with the best ways to exchange your CAD for PHP.
You have two options you have to decide on:
Exchange your CAD for PHP before you arrive.
This is the most convenient way because you’ll arrive in the Philippines with cash on hand. However, you need to verify the exchange rates because you might find better ones there.
Exchange your CAD after you arrive
You have a lot of options here. You can use banks, money exchanges, or even some hotels. But remember that you’ll get the best rates at banks and money exchanges.
Tips for exchanging
The most important thing you should 2024 Poland Telegram Users Library note when exchanging your CAD for PHP is the exchange rates.
Most banks and foreign exchange bureaus will offer you good rates whether you’re in Canada or the Philippines. One place you shouldn’t use to exchange money is the airport because you’ll be paying high fees and high exchange rates.
In the Philippines you have a lot
of options that have been tried and tested by many expats.
The most popular ones are:
Czarina Foreign Exchange
Sanry’s
Another option is to use your debit or credit card to withdraw Philippine peso from the ATMs.
Make sure to inform your bank and tell them about your upcoming trip to avoid any international transactions being blocked. With the ATM option, there would be some extra fees, but the exchange rates might be better.
When you exchange your CAD
for PHP in a Philippine bank or foreign exchange bureau, make sure you pay the exchange fees in PHP.
You can also send money from Canada to the Philippines and get your PHP in the local office. Western Union is a really popular option because of its vast international network.
What factors influence CAD to PHP exchange rate?
There are a few key factors that influence the exchange rate between CAD and PHP:
These include:
The interest rates set by the Canadian
central bank and the Philippine central bank
If the Bank of Canada increases the interest rates, that would lead to more foreign investment, increasing the demand for Canadian dollars. As a result, the Canadian dollar will become more valuable compared to the Philippine peso.
On the other hand, if the Philippine central bank raises the interest rates, it might help the PHP appreciate against the CAD.
The countries’ inflation
If Canada has higher inflation than the Philippines, the Canadian dollar will lose value against the Philippine peso and vice versa.
Economic growth and political stability
If the Canadian economy outperforms the Philippine economy, the Canadian dollar will likely appreciate against the peso and vice versa.
Also, if there’s political instability in either Canada or the Philippines, the currency of that nation will lose some of its value compared to the other nation’s.
You can learn how to send money to the Philippines here.
Where can I get Philippine Peso in Canada?
In Canada, you can get PHP from:
Exchange bureaus
These are secure, but everyone will offer you different exchange rates.
Banks
Most Canadian banks will exchange your CAD for PHP.
Western Union
One of the best places to exchange BTC Email List Canadian dollars for Philippine pesos is Western Union. It’s convenient and reliable, and it offers great exchange rates.
Western Union has over 1,400 locations nationwide , so you can easily find a branch near you to exchange your Canadian dollars for Philippine peso.
We also offer competitive exchange rates
you can count on. There’s also a more interesting option you can explore with Western Union.
You can send money to a Philippine Western Specific Business Service By Industry Union branch. That way, when you arrive in the Philippines, you can go to the local branch and get your Philippine peso.
