- Philippines Peso (PHP), symbol: ₱
Boracay is bustling with numerous shops and restaurants, many of which only accept cash. Though many if not most of the larger enterprises also accept credit cards, carrying cash affords you the convenience and flexibility of being accepted everywhere.
The currency in the Philippines is the Peso (PhP) and the Centavo. 100 centavos = P1. Coin denominations are: 1, 5, 10, and 25 centavos, P1, and P5. Bill denominations are : 10, 20, 50, 100, 500 and 1, 000 pesos. Foreign currency may be exchanged at your hotel, and in most of the large department stores, banks and authorized money changing shops. Exchanging money anywhere else is illegal and the laws are strictly enforced.
Most large stores, restaurants , hotels and resorts accept major credit cards including American Express , Visas and MasterCard. Traveller' s checks preferably American Express are accepted at hotels and large department stores. Personal checks drawn on foreign banks are generally not accepted.
Travelers cheques and cash can be changed at the Boracay Tourist Center, the foreign exchange counter at the Allied Bank next to the Queen's Beach Resort in Angol, and the Boracay branch of the Allied Bank (tel: 288 3026). At the latter, you can open a peso or dollar account (minimum opening balance of P1000 or US$200).
The Boracay Tourist Center will give cash advances on popular credit cards (for a 7.5% fee). The Allied Bank will only accept American Express.
The Boracay Tourist Center in Manggayad rents out safe deposit boxes.
A number of ATMs are scattered around the island, and withdrawals of up to a maximum of P20,000 are allowed per day. If you have a different currency, you may have it exchanged at local money changers. Keep in mind that exchange rates are highly variable and on the whole tend to be higher than what you would find in larger cities, so if you have the opportunity it is best to have your currency exchanged before arriving in Boracay.
Sorry, no exchanges found.