1 Euro to PHP Peso Exchange Rate
The exchange rate between the Euro (EUR) and the Philippine Peso (PHP) is an important economic indicator that affects the value of goods and services traded between the European Union and the Philippines. In this article, we will explore the current and historical exchange rates between the two currencies.
Current Exchange Rate
As of the current date, the exchange rate is:
1 EUR = 57.13 PHP
This means that if you exchange 1 Euro, you will receive approximately 57.13 Philippine Pesos.
Historical Exchange Rate
Over the past year, the exchange rate between the Euro and the Philippine Peso has fluctuated. Here is a snapshot of the exchange rate over the past 12 months:
| Date | Exchange Rate |
|---|---|
| 1 year ago | 1 EUR = 54.21 PHP |
| 6 months ago | 1 EUR = 55.81 PHP |
| 3 months ago | 1 EUR = 56.35 PHP |
| Current | 1 EUR = 57.13 PHP |
As you can see, the exchange rate has been trending upward over the past year, with some fluctuations.
Factors Affecting the Exchange Rate
Several factors can influence the exchange rate between the Euro and the Philippine Peso, including:
- Economic indicators: GDP growth rates, inflation rates, and interest rates in both the European Union and the Philippines can affect the exchange rate.
- Political stability: Political instability or changes in government policies can impact the exchange rate.
- Trade agreements: Trade agreements between the European Union and the Philippines can influence the exchange rate.
- Market sentiment: Speculation and market sentiment can also affect the exchange rate.
Conclusion
The exchange rate between the Euro and the Philippine Peso is an important economic indicator that can affect trade and investment between the two regions. Understanding the current and historical exchange rates can help individuals and businesses make informed decisions when trading or investing in these currencies.
