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base info Dai

Dai to Philippine Peso Converter and calculator

Convert 1Dai (DAI) to Philippine Peso (PHP) equals ₱ 56.58 | Bitget

PHP information

About the Philippine Peso (PHP)

What Is the Philippine Peso (PHP)?

The Philippine Peso, denoted as PHP (₱), is the official currency of the Philippines. It's subdivided into 100 centavos or sentimos in Filipino. The currency symbol is ₱, and it's also commonly abbreviated as "PHP," "PhP," "Php," or simply "P." The Philippine Peso is the sole legal tender in the Philippines, and it is used for all transactions within the country.

The Philippine Peso is issued by the Bangko Sentral ng Pilipinas (BSP), which is the central bank of the Philippines. Established on July 3, 1993, the BSP is responsible for maintaining price stability, ensuring the liquidity and solvency of the financial system, and promoting a balanced and sustainable economic growth in the country.

What Is the History of PHP?

The origins of the Philippine Peso trace back to the Spanish Peso or pieces of eight, introduced in the Philippines via the Manila galleons from the 16th to the 19th century. The pre-colonial Philippines engaged in barter trade, but the inconvenience led to the use of gold, which was abundant in the islands, as a medium of exchange. The earliest known local currency was the "Piloncitos" and gold barter rings.

During the Spanish Colonial period, the Spanish Dollar or silver peso was introduced. The Philippines also minted its own coins, such as the crude copper or bronze coins called "cuartos" or "barrillas." The Spanish gold onza and silver peso established a bimetallic standard, with the peso being worth either the silver Mexican peso or 1/16th of the gold onza.

Post-independence, the Philippines saw various currency reforms, including the introduction of the Central Bank of the Philippines in 1949 and the shift to a free-floating currency system with the New Central Bank Act of 1993.

Notes and Coins of PHP

Today, the Philippine Peso is available in both coins and banknotes. Coins come in denominations of 1, 5, 10, and 25 centavos, and 1, 5, 10, and 20 pesos. Banknotes are issued in 20, 50, 100, 200, 500, and 1,000 pesos. The latest banknote designs feature prominent Filipinos and iconic natural wonders. The BSP produces the country's banknotes and coins at its Security Plant Complex, which is located in Quezon City.

Exchange Rate and Economic Implications

The PHP has experienced fluctuations in its exchange rate, particularly against the US dollar (USD). Historically, it has ranged from below 48 PHP to over 56 PHP per USD. The exchange rate is influenced by various factors, including the Philippines' economic performance, trade balances, and global economic conditions.

Is the Philippine Peso Pegged to the US Dollar?

The Philippine Peso (PHP) currently operates under a floating exchange rate system and is not pegged to the US Dollar (USD). Historically, the PHP was pegged to the USD during the American colonial era and the post-World War II period. However, this changed following significant economic reforms, particularly after the enactment of the New Central Bank Act of 1993, which established the Bangko Sentral ng Pilipinas (BSP). Under the floating exchange rate regime, the value of the PHP is determined by market forces, including factors such as economic performance, inflation, and trade balances. While the BSP may intervene to manage excessive volatility in the currency market, it does not maintain a fixed exchange rate against the USD.

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Bitget crypto-to-fiat exchange data shows that the most popular Dai currency pair is the DAI to PHP, with for Dai's currency code being DAI. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for PHP.

DAI to PHP conversion rate trend

1D7D1M3M1YAll
In the past 1D, Dai has changed +0.02% to PHP. Based on the trend and price charts, Dai(DAI) has changed +0.02% to PHP while Philippine Peso(PHP) has changed % to DAI in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₱56.49
0.0001% / 0.0004%vip-iconVIP
Kraken
₱56.41
0.1000% / 0.1000%
Yes
OKX
₱56.55
0.080% / 0.100%
Yes
Huobi
₱56.56
0.1000% / 0.1000%
Yes
Gate.io
₱56.46
0.1000% / 0.1000%
Yes
Bybit
₱56.49
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 10:00:46(UTC+0)

What factors influence the conversion rate of Dai to Philippine Peso?

Dai to Philippine Peso is rising this week.
Dai's current market price is ₱ 56.58 per DAI, with a total market cap of ₱ 302,567,960,496.83 PHP based on a circulating supply of 5,347,888,600 DAI. The trading volume of Dai has changed by -2.93% (₱ -1,361,994,936.66 PHP) in the last 24 hours. Last trading day, DAI's trading volume was ₱ 46,429,007,556.1.
Market cap
$5.35B
24h volume
$796.61M
Circulating supply
5.35B DAI

Conversion tables

The exchange rate of Dai is increasing.
1 DAI is currently valued at ₱ 56.58 PHP , which means buying 5 DAI will cost ₱ 282.89 PHP . Similarly, ₱1 PHP can be traded for 0.01767 DAI, and ₱50 PHP can be converted to 0.8837 DAI, excluding any platform or gas fees.
The exchange rate of 1 DAI to Philippine Peso has changed by +0.01% in the last 7 days. In the last 24 hours, the rate has fluctuated by +0.02%, reaching a high of 56.63 PHP and a low of 56.55 PHP . One month ago, the value of 1 DAI was ₱ 56.56 PHP , which represents a +0.02% change from its current value. Over the last year, Dai has changed by
+
0.009564PHP
, resulting in a change of +0.02% in its value.

DAI to PHP

Amount
10:39 am today
0.5 DAI
28.29
1 DAI
56.58
5 DAI
282.89
10 DAI
565.77
50 DAI
2,828.85
100 DAI
5,657.71
500 DAI
28,288.54
1000 DAI
56,577.09

PHP to DAI

Amount10:39 am today
0.5PHP0.008837  DAI
1PHP0.01767  DAI
5PHP0.08837  DAI
10PHP0.1767  DAI
50PHP0.8837  DAI
100PHP1.77  DAI
500PHP8.84  DAI
1000PHP17.67  DAI
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Today vs. 24 hours ago

Amount10:39 am today24 hours ago24h change
0.5 DAI$0.5000$0.4999
+0.02%
1 DAI$1$0.9998
+0.02%
5 DAI$5$5
+0.02%
10 DAI$10$10
+0.02%
50 DAI$50$49.99
+0.02%
100 DAI$100.01$99.98
+0.02%
500 DAI$500.03$499.91
+0.02%
1000 DAI$1,000.07$999.83
+0.02%

Today vs. 1 month ago

Amount10:39 am today1 month ago1M change
0.5 DAI$0.5000$0.4999
+0.02%
1 DAI$1$0.9998
+0.02%
5 DAI$5$5
+0.02%
10 DAI$10$10
+0.02%
50 DAI$50$49.99
+0.02%
100 DAI$100.01$99.98
+0.02%
500 DAI$500.03$499.91
+0.02%
1000 DAI$1,000.07$999.82
+0.02%

Today vs. 1 year ago

Amount10:39 am today1 year ago1Y change
0.5 DAI$0.5000$0.4999
+0.02%
1 DAI$1$0.9999
+0.02%
5 DAI$5$5
+0.02%
10 DAI$10$10
+0.02%
50 DAI$50$49.99
+0.02%
100 DAI$100.01$99.99
+0.02%
500 DAI$500.03$499.95
+0.02%
1000 DAI$1,000.07$999.9
+0.02%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.