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exchanging foreign currency

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Lewes, Delaware
posts: 2
reviews: 6
exchanging foreign currency

I am traveling to the Philippines soon. Can anyone please tell me where I can exchange the USD to PHP for the best transaction cost, exchange rate, etc?

Singapore, Singapore
Destination Expert
for Philippines
posts: 10,470
reviews: 229
1. Re: exchanging foreign currency

Go to Ayala Center 1st floor. There is a currency exchange just beside the information counter.

So far I see that is the best rate there.

Leyte Island...
Destination Expert
for Cebu City, Cebu Island
posts: 4,442
reviews: 23
2. Re: exchanging foreign currency

I don't exchange USD but I am told that the best place in Cebu City is the money changer in the bottom level of Robinsons Mall on Fuente Osmena

Regards: Jim

posts: 258
reviews: 35
3. Re: exchanging foreign currency

I got 43.25 at the currency exchange in Ayala, just 2 days ago. 43 at Robinsons mall on Fuente osmena 3 days ago. FYI, but it has since dropped a little

posts: 1
4. Re: exchanging foreign currency

hi the one in Robinsons tends not charge commision so it can make a difference. Did you notice the rate for the British Pound?

Lewes, Delaware
posts: 2
reviews: 6
5. Re: exchanging foreign currency

thank you all, it's very helpful !

hong kong
posts: 1
6. Re: exchanging foreign currency

Hello, would like to know is it a good rate to change the money in the Mactan airport ? Tks!

7. Re: exchanging foreign currency

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Saint Louis...
posts: 67
reviews: 5
8. Re: exchanging foreign currency

43 is a good exchange rate.

In general an ATM is the place to get the best exchange rate as you get the interbank rate. Just keep on top of your bank fees so you can compare whether or not it's more advantageous than a money exchanger.

Leyte Island...
Destination Expert
for Cebu City, Cebu Island
posts: 4,442
reviews: 23
9. Re: exchanging foreign currency

Never ever get your money exchanged at a hotel unless you are desperate. It will be the worst exchange rate available.

If you must exchange at the airport, just exchange a small amount. Enough to get you settled until you can find a decent money changer.

You don't say what currency you want to exchange but if it is USD, go to the money changer at the bottom of Robinson Mall, as previously mentioned. Robinson Mall is located on Fuente Osmena.

A good place for Australian dollars and maybe some other currencies is the money changer in the Colonnade mall on Colon in Downtown Cebu City. There are also some money changers with good rates in Ayala Mall too.

I agree about ATMs giving the best exchange rate. Unfortunately, because of fees, most people are better off, exchange rate wise, using cash.

posts: 81
reviews: 51
10. Re: exchanging foreign currency

Not in a hotel or the airport. Go to a mall or a bank.