uk pound v peso

[sheffieldmel 22]

has anybody changed uk pounds for peso in phil lately ? i seem to think you get a better rate in cebu than the uk. i'll be coming over in February via manila and checked the rate on line it was 65.98 but the post office here only want to give 60 on the face of it 6 peso does not sound much but if i changed 1k it would be 6000 peso or about 90 quid that sounds way over the top for me i know they have to make a profit but the last time i was over there 6000 added up to a trip to bohol fares resort and a night out included. i'd grateful for any advice.

[Alan S 4,607]

Although I havent changed any Peso-GBP recently, in the past, I never found a better rate in the UK compared to the Philippines.

 

At one time, the rate was much better in HK, but I dont know if that is still the case. (And only useful if you are going via HK!)

[misty 72]

The other day, I passed by SM's currency exchange counter and the pound rate was around 63 pesos.

[CebuKano 1,751]

Ditto here. I noticed the same exchange rate at J Centre here in Mandaue.

[lazydays 1,306]

Mel, your making a mountain out of a mole hill, you can only get 10k pesos at the Post office anyway, it's the maximum pesos you are allowed to bring into the Philippines, without the hassle of a special declaration.

(Pesos have to be ordered from the PO, they don't hold it as stock like the major currencies. Usually you have to show your passport when ordering).

 

Foreign currency you can bring in as much as you like.

[Durham 175]

Changed 500 quid in Rustans at Ayala and got a straight 65 all other places I saw were below 65 on the same day.

[Skywalker 19,177]

I always bring cash into the Country from the UK. Also I get £50 notes, because the handling charge can be better negotiated. I use the kiosk at Rustans mostly, and because I generally change about £1000 at a time, I can often get a slightly better rate than the one shown on the board.

 

I changed money last week and got 65.10 to the £. It fluctuates on a daily basis, without rhyme or reason!

 

But you will always get a better rate in Country. By the way, do not be tempted by the black market rates - you'll end up with a fist-full of counterfeit notes.

[panther 845]

I always bring cash into the Country from the UK. Also I get £50 notes, because the handling charge can be better negotiated. I use the kiosk at Rustans mostly, and because I generally change about £1000 at a time, I can often get a slightly better rate than the one shown on the board.

 

I changed money last week and got 65.10 to the £. It fluctuates on a daily basis, without rhyme or reason!

 

But you will always get a better rate in Country. By the way, do not be tempted by the black market rates - you'll end up with a fist-full of counterfeit notes.

brave man carrying 1k around with you lol

[hookedtothenet 311]

I am having some sent to me via online bank transfer to my Philippine bank account, will report back the exchange rate once it has entered my bank here.

The Dept stores rates are always naff, better off checking out the money changers or banks IMO.

[Skywalker 19,177]

The Dept stores rates are always naff, better off checking out the money changers or banks IMO.

 

In this case your opinion, to my knowledge, is wrong. If you can find a better exchange rate than the kiosk in Rustans, please let us know. Of course there are department store money changers that are rubbish, they are easily spotted.

 

The banks have a standing charge when they transfer money for you, which is out of all proportion to the actually costs involved, and they control the exchange rate in their favour, and often the receiving bank also has a charge!

 

In the Philippines cash is still King. Unless anyone knows better?

Edited December 18, 2012 by Skywalker

[TorJay 845]

It's the same buying pesos from my bank here in Canada. 35 to the dollar. The reason for the low fx rate told to me was that it is not a commonly purchased currency. They also rob you when you try to sell them back here. Therefore, don't buy or sell them here in Canada unless you absolutely have to.

[spooks 1,729]

i use my HSBC atm card, no fees and good rate

[jigsy 370]

All the Brits out and about in the same thread. Feels kinda safe amongst my countrymen.

[hookedtothenet 311]

In this case your opinion, to my knowledge, is wrong. If you can find a better exchange rate than the kiosk in Rustans, please let us know.

 

What is 'Rustans' ? Money changer inside the supermarket or owned by the Supermarket?

 

No Rustan's in Iloilo so I am talking about the Supermarkets and Dept stores here including SM, Gaisano and Robinsons.

 

Yes, I agree Cash is king and in general money changers are usually the one's to give the best exchange rates as they all seem to be a bit competitive, well in my area at least

[Paul 55,114]

Aaahhh. The good old days. I remember oh, very late 2004, very early 2005, the pound was well over 100, like 105? 108? Something like that. The highest, I believe, it had ever been.

 

Around the same time, the USD was at its highest ever as well, at something over 56. We won't see that again for a very long time, if ever, during our lives.