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USDC to Philippine Peso Converter and calculator

Convert 1USDC (USDC) to Philippine Peso (PHP) equals ₱ 56.57 | 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 USDC currency pair is the USDC to PHP, with for USDC's currency code being USDC. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for PHP.

USDC to PHP conversion rate trend

1D7D1M3M1YAll
In the past 1D, USDC has changed +0.01% to PHP. Based on the trend and price charts, USDC(USDC) has changed +0.01% to PHP while Philippine Peso(PHP) has changed % to USDC in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₱56.56
0.0001% / 0.0004%vip-iconVIP
Binance
₱56.56
0.1000% / 0.1000%
Yes
Kraken
₱56.55
0.1000% / 0.1000%
Yes
OKX
₱56.56
0.080% / 0.100%
Yes
Huobi
₱56.45
0.1000% / 0.1000%
Yes
Gate.io
₱56.56
0.1000% / 0.1000%
Yes
Bybit
₱56.56
0.1000% / 0.1000%
Yes
KuCoin
₱56.54
0.1000% / 0.1000%
Yes
Bitfinex
₱56.54
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 17:00:30(UTC+0)

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

USDC to Philippine Peso is rising this week.
USDC's current market price is ₱ 56.57 per USDC, with a total market cap of ₱ 1,827,873,139,850.45 PHP based on a circulating supply of 32,310,757,000 USDC. The trading volume of USDC has changed by +62.97% (₱ 334,003,049,248.81 PHP) in the last 24 hours. Last trading day, USDC's trading volume was ₱ 530,457,426,810.74.
Market cap
$32.31B
24h volume
$15.28B
Circulating supply
32.31B USDC

Conversion tables

The exchange rate of USDC is decreasing.
1 USDC is currently valued at ₱ 56.57 PHP , which means buying 5 USDC will cost ₱ 282.86 PHP . Similarly, ₱1 PHP can be traded for 0.01768 USDC, and ₱50 PHP can be converted to 0.8838 USDC, excluding any platform or gas fees.
The exchange rate of 1 USDC to Philippine Peso has changed by +0.01% in the last 7 days. In the last 24 hours, the rate has fluctuated by +0.01%, reaching a high of 56.67 PHP and a low of 56.52 PHP . One month ago, the value of 1 USDC was ₱ 56.57 PHP , which represents a -0.00% change from its current value. Over the last year, USDC has changed by
+
0.01701PHP
, resulting in a change of +0.03% in its value.

USDC to PHP

Amount
17:48 today
0.5 USDC
28.29
1 USDC
56.57
5 USDC
282.86
10 USDC
565.72
50 USDC
2,828.58
100 USDC
5,657.17
500 USDC
28,285.83
1000 USDC
56,571.66

PHP to USDC

Amount17:48 today
0.5PHP0.008838  USDC
1PHP0.01768  USDC
5PHP0.08838  USDC
10PHP0.1768  USDC
50PHP0.8838  USDC
100PHP1.77  USDC
500PHP8.84  USDC
1000PHP17.68  USDC
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Today vs. 24 hours ago

Amount17:48 today24 hours ago24h change
0.5 USDC$0.5000$0.4999
+0.01%
1 USDC$1.0000$0.9999
+0.01%
5 USDC$5$5
+0.01%
10 USDC$10$10
+0.01%
50 USDC$50$49.99
+0.01%
100 USDC$100$99.99
+0.01%
500 USDC$499.98$499.93
+0.01%
1000 USDC$999.97$999.87
+0.01%

Today vs. 1 month ago

Amount17:48 today1 month ago1M change
0.5 USDC$0.5000$0.5000
-0.00%
1 USDC$1.0000$1
-0.00%
5 USDC$5$5
-0.00%
10 USDC$10$10
-0.00%
50 USDC$50$50
-0.00%
100 USDC$100$100
-0.00%
500 USDC$499.98$500.01
-0.00%
1000 USDC$999.97$1,000.02
-0.00%

Today vs. 1 year ago

Amount17:48 today1 year ago1Y change
0.5 USDC$0.5000$0.4998
+0.03%
1 USDC$1.0000$0.9997
+0.03%
5 USDC$5$5
+0.03%
10 USDC$10$10
+0.03%
50 USDC$50$49.98
+0.03%
100 USDC$100$99.97
+0.03%
500 USDC$499.98$499.83
+0.03%
1000 USDC$999.97$999.67
+0.03%

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.