Traveling to Japan or South Korea? Your Peso Is Worth More in Yen and Won Right Now

(SPOT.ph) International travel promises new sights and tastes in foreign currency that banks and money exchange establishments convert at a fee. While memories made during trips are priceless, there is no denying that foreign exchange plays a role in deciding where you go and how much you can spend. We're all about making the most out of our cash, so we listed down some countries you can go to where the peso is stronger.

Conversion rates today won't always hold during the actual time of your trip, so you might be able to save a bit now, then spend more later. Alternatively, the reverse can happen—you might splurge now and end up saving when the trip date arrives.

For this short list, we used the XE Currency Exchange website to compare currencies from popular tourist destinations.

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The Philippine Peso is stronger versus these currencies as of October 17, 2022:

Japan

Those travelling to Japan will be happy to know that the peso is stronger than the yen, at a conversation rate of P1 equalling to approximately 2.52 Japanese Yen. Think of it this way: it means every P1,000 you exchange will give you 2,520 Japanese Yen, enough for at least a good bowl of ramen and a side dish.

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South Korea

Peso is also growing stronger versus the South Korean currency, where P1 is equivalent to 24.37 South Korean Won. K-pop albums are priced anywhere from 11,000 Korean Won upwards, or roughly P452. Public transportation is affordable at 1,250 Korean Won as train base fare for 10 kilometers, going up to 2,000 Korean Won, or  roughly P82 for a long train trip.

Also read:
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New Zealand

The Philippine peso holds its ground versus the New Zealand dollar with P1 yielding approximately 0.03 New Zealand dollars, mirroring its peak rate from late May 2022.

Known for its strict adherence to COVID-19 protocols, New Zealand reopened to Filipinos in August, after more than two years of tight border control. You'll still need a visa to enter, though.

Also read:
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The Philippine Peso is weaker versus these currencies as of October 17, 2022:

Taiwan

Though not as weak as it was in July or early October, the peso is still relatively weaker versus the Taiwanese dollar.

The island north of the Philippines recently scrapped the visa requirement for Filipino travelers. In-bound tourists are still subject to COVID-19 protocols such as presentation of vaccination records, wearing of masks, and frequent disinfection.

Also read: Taiwan Resumes Visa-Free Entry for Filipinos This Month

United States

The U.S. dollar is still queen of the planet's currency exchange. While you can get more FamilyMart Famchikis in Tokyo for your peso converted to yen, the over-all strong dollar is still a pain when buying plane tickets and booking hotels.

It's also the default in-between currency for most banks and online payment services, meaning your card or app may convert peso to dollar first before it gets converted to your currency of choice.

If you've got P1 in your pocket, you can get 0.016 U.S. Dollars. Switch it and $1 can get you P58.99, the highest its been in years.

Also read: Migrating to the U.S.? These Professions Are Likely To Get a Visa Approval

Singapore

For hassle-free travel, Singapore is your best bet with its relaxed protocols, efficient transportation system, and delicious food. Just keep in mind that your peso might not buy as many Singapore Dollars as you hoped.

The Singapore Dollar has steadily been growing stronger versus the peso, where P1 is worth 0.025 Singapore Dollars. That means 1 Singapore Dollar can get you approximately P41.

Also read:
How to Sign Up for the Singapore SG Arrival Card + TraceTogether App