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Tony Reyes

Travelled to 11 countries / regions

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I'm a local born and living in Manila

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Asia > Philippines > Manila > Useful Info
Submitted on Mar 31, 2019 Useful Info

Where to exchange money in Manila

  • There's no shortage of money exchangers in Manila. These are independently-run small businesses that exchange pretty much any major currency tourists bring
  • You will find a high concentration of them in Ermita and Makati, two districts with lots of foreigners. Ermita, in particular, has a number of very well-known exchange shops along Mabini Street, like Edzen and Sheeha. From my experience, if you go Mabini street or anywhere else with a congregation of money exchanger, there's basically no need for price shopping as their rates are all similar to one another
  • When in doubt, you can always head to your nearest mall and find money exchangers there. But the ones in malls are usually run by banks and their rates can be slightly worse than independent exchangers in Ermita
  • The rates at NAIA (the main airport in Manila) has gotten a lot better in recent years. Now there's almost no difference between exchanging at NAIA and exchanging in the city. Airport rate is probably 0.1% to 0.2% worse than the city on average, for example I recall seeing airport offering 1 USD = 52.30 PHP and in the city it was 1 USD = 52.40 PHP on the same day

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Alex Khan

Travelled to 0 country / region

On Jun 22, 2019

Hi. Thank you for useful info. I was always searching for Makati but good to know Ermita has better exchange offices. BTW Nowadays im using P2P mobile apps to match with real people around me to exchange money. I can negotiate the rate before i walk thousands of steps. Choose the best peer, meet in a cafe and perform exchange. Winngie Exchange Local currency application is my best so far. need to be more global but i believe it will be soon. Donnow if there are some others. So far Winngie Exchange Money Application is brilliant. Just like another uber but for exchanging money. Never use cheating exchange bankomats or airport offices. they are all cheaters, unfair rates or high commission rates. You can also use "Winngie" to send money abroad. Just wanted to share my experience.

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