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Philippine Peso
The Philippines officially uses the peso as the local currency. 1 peso is divided into 100 centavos.
Currency regime
The peso trades freely against major currencies with the central bank targeting inflation, but also keeping a close eye on the currency to preserve competitiveness.
Commercial rates
On September 26th 2007, the peso was valued at around 45.5 against the dollar and 64.1 against the Euro.
Tourist rates
On September 26th 2007 the Philippines currency was valued at around 80.5 against Sterling. For 1 UK pound you will, therefore, receive around 80.5 pesos.
US dollars are widely accepted in most tourist resorts and the large cities.
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