The Philippine peso opened the day under pressure.
As of February 3, 2026, the Bangko Sentral ng Pilipinas (BSP) set the reference rate at ₱58.90 per US dollar, a level that continues to test the peso’s resilience against major global currencies.
For ordinary Filipinos, this means one thing:
foreign currencies remain expensive — and the dollar still leads the pack.
Let’s break down what’s happening.
Peso vs US Dollar: Still the Main Battle
The US dollar (USD) stands at ₱58.887, keeping the peso near the 59-peso mark.
This reflects continued global demand for the dollar — driven by strong US economic data and cautious global markets. When investors seek safety, they run to the dollar… and emerging-market currencies like the peso feel the weight.
How the Peso Stacks Up Against the Top 15 Currencies
Here’s how ₱1 compares against the world’s most followed currencies today — and what it means.
Strongest Against the Peso (Most Expensive)
• Bahrain Dinar (BHD) – ₱156.25
👉 One of the strongest currencies globally. Oil-backed and tightly managed.
• British Pound (GBP) – ₱80.49
👉 Still firm despite global uncertainty.
• Swiss Franc (CHF) – ₱75.54
👉 A classic safe-haven currency.
• Euro (EUR) – ₱69.45
👉 Holding steady as Europe stabilizes inflation.
Mid-Tier Heavyweights
• Singapore Dollar (SGD) – ₱46.30
• Canadian Dollar (CAD) – ₱43.05
• Australian Dollar (AUD) – ₱40.91
• New Zealand Dollar (NZD) – ₱35.32
👉 These currencies reflect stable economies with strong trade links — making them pricier than the peso but less volatile than the dollar.
Regional Neighbors & Trade Partners
• Hong Kong Dollar (HKD) – ₱7.54
• Chinese Yuan (CNY) – ₱8.48
• Thai Baht (THB) – ₱1.87
• Indonesian Rupiah (IDR) – ₱0.0035
👉 The peso remains competitive within Southeast Asia, though China’s yuan continues to hold firm due to tight controls.
Middle East & Gulf Currencies
• Saudi Riyal (SAR) – ₱15.70
• UAE Dirham (AED) – ₱16.03
👉 Pegged to the US dollar, these currencies move closely with USD strength.
What This Means for Filipinos
• Imports stay expensive
• Overseas travel costs more
• Dollar earners benefit
• Exporters gain some relief
For now, the peso is holding its ground — but not gaining strength.
Key BSP Rates to Watch
• BSP Reference Rate: ₱58.90
• Buying Rate: ₱58.65
• Selling Rate: ₱59.15
• PDS Closing (Feb 2): ₱58.899
Precious metals also climbed, with gold at $4,779 and silver at $82.90, signaling continued investor caution.
The Bottom Line
The peso isn’t collapsing — but it’s not catching a break either.
Against the world’s top currencies, the message today is clear:
the dollar remains king, and the peso is still fighting uphill.
