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Philippine
PesoPHP
The currency of the Philippines is the Philippine peso (PHP), divided into 100 sentimo and issued by the Bangko Sentral ng Pilipinas. Its rate moves with the market: one Philippine peso costs ₹1.58 at our selling rate right now.
- Code
- PHP
- Symbol
- ₱PhP
- Subunit
- 100 sentimo
- In use since
- 1903
What is the currency of the Philippines?
The currency of the Philippines is the Philippine peso, code PHP, written ₱. One peso is divided into 100 sentimo, also called centavos. The Bangko Sentral ng Pilipinas (BSP) issues the notes and coins, and the modern peso dates from the Philippine Coinage Act of 1903, which set it at 2 pesos to the US dollar. Today it floats, so against the rupee it moves with the market: on 5 Oct 2026, one Philippine peso was worth about ₹1.58 at our selling rate and ₹1.58 at our selling rate. A quote in PHP currency always means this peso, and other countries also use the word peso, so the code PHP is what tells the Philippines currency apart.
Philippine Peso at a glance
- Currency
- Philippine pesoIn Filipino, piso
- Code
- PHPThe ISO 4217 code of the Philippine peso
- Symbol
- ₱Also written P, PhP, Php or PHP
- Subunit
- 1 peso = 100 sentimoAlso called centavo
- Issuer
- Bangko Sentral ng PilipinasSet up in 1993 after the Central Bank of the Philippines
- Introduced
- 1903The Coinage Act of 1903 set the modern peso at 2 to the US dollar
- Exchange rate
- FloatingSet by the market; the BSP steps in only to smooth volatility
- Used in
- The Philippines
- Banknotes
- ₱20, ₱50, ₱100, ₱200, ₱500 and ₱1,000Paper New Generation notes since 2010, with polymer notes beside them
- Coins
- 1, 5 and 25 sentimo; ₱1, ₱5, ₱10 and ₱20The New Generation coin series, showing historical figures and native plants
Philippines currency notes and coins
Philippine money comes as six paper banknotes, from ₱20 to ₱1,000, and as coins from 1 sentimo to ₱20. The paper New Generation Currency notes were first issued in December 2010. Polymer notes of ₱1,000, ₱500, ₱100 and ₱50 now circulate beside them in the same colours and sizes: the ₱1,000 came in April 2022, and the First Philippine Polymer series was launched on 19 December 2024, with wildlife and no people. Fronts and backs below are the paper notes unless marked polymer. Each note is shown with what it costs in rupees at our selling rate today.
- Bangko Sentral ng PilipinasTwenty pesos₱20
Twenty pesos ₱20
≈ ₹31.70 today- Colour
- Orange
- Front
- Manuel L. Quezon and Malacañang Palace
- Back
- The Banaue Rice Terraces and an Asian palm civet
- Bangko Sentral ng PilipinasFifty pesos₱50
Fifty pesos ₱50
≈ ₹79.24 today- Colour
- Red
- Front
- Sergio Osmeña and the Leyte Landing; the polymer note shows a Visayan leopard cat
- Back
- Taal Lake, a giant trevally and Batangas embroidery; the polymer note shows Taal Lake with a maliputo
- Bangko Sentral ng PilipinasOne hundred pesos₱100
One hundred pesos ₱100
≈ ₹158.48 today- Colour
- Violet
- Front
- Manuel Roxas and the old central bank building; the polymer note shows a Palawan peacock-pheasant
- Back
- Mayon Volcano, a whale shark and a Bicol textile; the polymer note keeps Mayon Volcano, with an orchid and a weave
- Bangko Sentral ng PilipinasTwo hundred pesos₱200
Two hundred pesos ₱200
≈ ₹316.96 today- Colour
- Green
- Front
- Diosdado Macapagal and the Aguinaldo Shrine
- Back
- The Chocolate Hills, a tarsier and a Visayas weave
- Bangko Sentral ng PilipinasFive hundred pesos₱500
Five hundred pesos ₱500
≈ ₹792.40 today- Colour
- Yellow
- Front
- Corazon Aquino and Benigno Aquino Jr., with the EDSA I monument; the polymer note shows a Visayan spotted deer
- Back
- The Puerto Princesa Underground River and a blue-naped parrot; the polymer note shows an orchid and the Puerto Princesa Subterranean River National Park
- Bangko Sentral ng PilipinasOne thousand pesos₱1000
One thousand pesos ₱1,000
≈ ₹1,584.80 today- Colour
- Blue
- Front
- José Abad Santos, Vicente Lim and Josefa Escoda; the polymer note shows a Philippine eagle and a sampaguita
- Back
- Tubbataha Reefs, a pearl oyster and T'nalak weave (paper note)
Coins, in sentimo
The sentimo coins are the 1, 5 and 25, and the peso coins the ₱1, ₱5, ₱10 and ₱20. They show historical figures and native plants: José Rizal on the ₱1, Andrés Bonifacio on the ₱5, Apolinario Mabini on the ₱10 and Manuel L. Quezon on the ₱20, and the mangkono, hoya and katmon on the 1, 5 and 25 sentimo.
- 11 sentimo
≈ ₹0.02 - 55 sentimo
≈ ₹0.08 - 2525 sentimo
≈ ₹0.40 - 11 peso
≈ ₹1.58 - 55 pesos
≈ ₹7.92 - 1010 pesos
≈ ₹15.85 - 2020 pesos
≈ ₹31.70
Sources: Bangko Sentral ng Pilipinas, coins and notes; Wikipedia, "Philippine peso"; colours as printed. Rupee values at our selling rate, 10:25 AM IST, 5 Oct 2026.
The notes Filipinos called Mickey Mouse money
From 1942 to 1945 occupation forces filled the Philippines with unbacked peso notes, and Filipinos called them Mickey Mouse money. By January 1944 prices were rising about 60 percent a month, and after liberation the notes were worth nothing.
Old pesos for new
Occupation forces replace the prewar pesos with unbacked peso notes and make residents exchange their old money. Filipinos call the new notes Mickey Mouse money.
Bigger notes, faster prices
Notes of ₱100 and ₱500 are forced into use, and monthly inflation reaches about 60 percent in January 1944.
A ₱1,000 note and emergency notes
Notes of ₱1,000 appear. Guerrilla and provincial emergency notes also circulate, and the Japanese make possessing them a capital offence.
Worthless, then VICTORY
The occupation notes are worthless. Treasury certificates overprinted VICTORY serve as money until the Central Bank of the Philippines opens in 1949.
Sources: Planet Banknote, "Philippines banknotes" and "Japanese invasion money"; Wikipedia, "Japanese invasion money".
A peso that moves with the market
The Philippine peso has no fixed rate. The market sets its price, and the BSP says it steps in only to smooth excess volatility, so its price in rupees can change from one day to the next.
The market sets the price
The Philippine peso floats: its exchange rate is determined by the market, and the rupee price moves with it from one day to the next.
The BSP smooths, not fixes
The Bangko Sentral ng Pilipinas says it steps into the foreign exchange market only to smooth excess volatility.
Fixed once, in 1903
The Philippine Coinage Act of 1903 set the peso at 2 to the US dollar. Today the rate is set by the market instead.
One unit in rupees · our selling rate, 5 Oct 2026
Philippine money from galleons to polymer
Philippine money began with Spanish dollars on the Manila galleons, and has moved from pesos fuertes and wartime notes to a central bank of its own and polymer notes. What changed along the way, in eight entries.
- EntryPhilippines
Spanish dollars arrive
The Manila galleons begin bringing Spanish dollars to the islands.
- EntryPhilippines
The first banknotes
The first Philippine banknotes are issued, in pesos fuertes, by El Banco Español Filipino de Isabel II.
Notes begin - EntryPhilippines
The modern peso
The Philippine Coinage Act sets the peso at 2 to the US dollar.
Launch - EntryPhilippines
Mickey Mouse money
Occupation forces replace the prewar pesos with unbacked peso notes, which Filipinos call Mickey Mouse money. The notes are worthless once the war ends.
Wartime - EntryPhilippines
The Central Bank opens
The Central Bank of the Philippines opens. Until then, treasury certificates overprinted VICTORY had served as money.
- EntryPhilippines
The BSP takes over
The Bangko Sentral ng Pilipinas is established and succeeds the Central Bank of the Philippines.
- EntryPhilippines
New Generation notes
The paper New Generation Currency banknotes are first issued in December.
- EntryPhilippines
A polymer series
On 19 December the First Philippine Polymer series is launched, after a polymer ₱1,000 note in April 2022.
New notes
Sources: Bangko Sentral ng Pilipinas, coins and notes and polymer banknote pages; Planet Banknote, "Philippines banknotes" and "Japanese invasion money"; news reports on the 2024 polymer launch; Wikipedia, "Philippine peso" and "Japanese invasion money".
Pesos and rupees side by side
Worked out at our selling rate at 10:25 AM IST on 5 Oct 2026. For the live rate on any amount, use the PHP to INR or INR to PHP converter.
| You pay | You get |
|---|---|
| ₹5,000 | ₱ 3,154.97 |
| ₹10,000 | ₱ 6,309.94 |
| ₹25,000 | ₱ 15,774.86 |
| ₹50,000 | ₱ 31,549.72 |
| ₹1,00,000 | ₱ 63,099.44 |
| ₹2,00,000 | ₱ 126,198.89 |
| You buy | It costs |
|---|---|
| ₱ 500 | ₹792.40 |
| ₱ 1,000 | ₹1,584.80 |
| ₱ 5,000 | ₹7,924.00 |
| ₱ 10,000 | ₹15,848.00 |
| ₱ 25,000 | ₹39,620.00 |
| ₱ 50,000 | ₹79,240.00 |
Spending pesos in the Philippines
Three things about Philippine money that help on the first day.
UPI and RuPay are not live
UPI and RuPay do not work in the Philippines at present, and a UPI link has only been discussed. Travel guides say Visa and Mastercard work at most BancNet ATMs, so bring one of those cards.
Visa · MastercardShops show QR Ph codes
QR Ph is the national QR payment standard approved by the BSP, and the GCash and Maya wallets must support it. The codes are common in malls, convenience stores and restaurants.
QR Ph · GCash · MayaPaper and polymer notes mix
Polymer notes keep the colours and sizes of the paper notes and circulate beside them, so you may get both. A ₱500 note is about ₹792.40 and a ₱1,000 note about ₹1,584.80.
₱500 · ₹792.40Taking Philippine pesos from India
The Reserve Bank of India's rules apply to every currency, and the Philippine peso is no exception.
Up to the equivalent of USD 3,000 per trip can leave India as Philippine peso notes. The rest goes on a forex card or as a bank transfer.
Every resident can send up to USD 250,000 abroad each financial year under the Liberalised Remittance Scheme, travel included.
Tax collected at source applies once your foreign-exchange purchases in a financial year cross ₹10 lakh: nil when an education loan pays, 2% for self-funded education and medical treatment, and 20% for travel and everything else. It is credited against your income tax when you file.
Philippine pesos are available on request. Send your amount and the desk confirms availability and your exact rate before anything is booked.
Check availability→Philippine peso questions
The questions people type about Philippine money, answered in full, in three groups.
The basics
8 questionsWhat is the currency of the Philippines?
The currency of the Philippines is the Philippine peso, code PHP, divided into 100 sentimo. The Bangko Sentral ng Pilipinas, the central bank, issues the notes and coins, and the peso is used in the Philippines only.
What is the full form of PHP in currency?
PHP stands for Philippine peso, the ISO 4217 code for the currency of the Philippines. That is the PHP full form and the PHP currency full form alike, although PHP is also the name of a programming language. On a page about money, and in any price list, it means the Philippine peso.
What is the Philippine peso symbol?
The Philippine peso symbol is ₱. It is the Philippines currency symbol you will see on price tags, and in plain text it is also written P, PhP, Php or PHP. The code PHP is what tells it apart from other pesos.
Philippines ki currency kya hai?
Philippines ki currency Philippine peso (PHP) hai, jise Filipino mein piso kehte hain. Ek peso mein 100 sentimo hote hain, aur 5 Oct 2026 ko ek Philippine peso lagbhag ₹1.58 ka tha, hamare selling rate par. Iska symbol ₱ hai.
What is the Philippines currency name?
The Philippines currency name is the Philippine peso, or piso in Filipino. It is also searched as currency of Philippines, Philippine currency, Philippines money or Filipino currency, with the country often misspelt Phillipines or Philipines, and all of these mean the same peso. Other countries also use the word peso, so the code PHP is what tells this one apart.
How many sentimo make one peso?
One peso is 100 sentimo, also called centavos. The New Generation coins are the 1, 5 and 25 sentimo and the ₱1, ₱5, ₱10 and ₱20, each showing native plants or a historical figure.
Who issues the Philippine peso?
The Bangko Sentral ng Pilipinas (BSP), the central bank, issues it. The BSP was established in 1993 and succeeded the Central Bank of the Philippines, which had opened in 1949.
Which banknotes are in use in the Philippines?
Six denominations: ₱20 (orange), ₱50 (red), ₱100 (violet), ₱200 (green), ₱500 (yellow) and ₱1,000 (blue). The paper New Generation Currency notes were first issued in December 2010, and polymer notes of ₱1,000, ₱500, ₱100 and ₱50 now circulate beside them in the same colours and sizes.
Value and history
5 questionsIs the Philippine peso fixed or floating?
It floats: the market determines its exchange rate, and the Bangko Sentral says it steps in only to smooth excess volatility. The Philippine Coinage Act of 1903 had set the peso at 2 to the US dollar.
What was Mickey Mouse money in the Philippines?
It was the name Filipinos gave the unbacked peso notes that occupation forces issued from 1942, after making residents exchange their prewar pesos. By January 1944 monthly inflation was about 60 percent, and after liberation the notes were worthless.
How old is the Philippine peso?
Spanish dollars reached the islands on the Manila galleons from 1565, and the first Philippine banknotes came in 1852, in pesos fuertes. The modern peso dates from the Philippine Coinage Act of 1903, which set it at 2 pesos to the US dollar.
What are the new polymer peso notes?
The First Philippine Polymer series was launched on 19 December 2024, after a polymer ₱1,000 note in April 2022. It has a wildlife theme with no people, such as the Philippine eagle on the ₱1,000 and the Visayan spotted deer on the ₱500, and it keeps the colours and sizes of the paper notes, which still circulate beside it.
Are old Philippine peso notes still valid?
The paper New Generation notes of 2010 still circulate beside the polymer ones. The BSP lists the older English, Pilipino, Ang Bagong Lipunan, Flora and Fauna, Improved Flora and Fauna and New Design series as demonetised, and the New Design series stopped being legal tender after 30 June 2017, with its exchange window closing on 29 December 2017. For any other old note, check with the BSP before relying on it.
Buying from India
4 questionsCan Indian visitors enter the Philippines without a visa?
Since 8 June 2025 Indian tourists can enter visa-free for 14 days, or 30 days with a valid US, Japan, Australia, Canada, Schengen, Singapore or UK visa or residence permit. A passport valid six months beyond the stay, a confirmed hotel, proof of funds and an onward ticket are needed, the stay is for tourism only and cannot be extended, and rules can change, so check them before you book.
Do UPI and RuPay work in the Philippines?
No. As of October 2026 neither UPI nor RuPay is live for Indian visitors in the Philippines, and a UPI link to the national QR Ph standard has only been discussed. Carry a Visa or Mastercard card and some pesos.
How much Philippine currency can I take out of India?
Up to the equivalent of USD 3,000 per trip in currency notes. Anything above that goes on a forex card or as a bank transfer, all within the USD 250,000 a year Liberalised Remittance Scheme limit.
How do I get Philippine pesos before a trip?
Order them before you fly. Matrix Forex, an RBI-authorised Category-II dealer, arranges Philippine peso notes on request: send your amount through the booking bar at the top of this page and the desk confirms availability and your exact rate before anything is booked. For the live rate on any amount, see the PHP to INR converter.