Like in many Spanish-speaking countries, the Philippines currency is called the Peso and Centavo. 1 peso = 100 centavos. Coin denominations are 5, 10, and 25 centavos and P1, P5 and P10. Paper bills are 20, 50, 100, 200, 500 and 1,000 pesos.
For an idea on how far your travel budget can go, 1 USD is roughly 50 pesos and 1 euro is 60 pesos. The cost of travelling in the Philippines is low. On the budget end, accommodation is roughly $20 per night and food is around $11 a day.
If shopping is at the top of your list, some of the world’s largest malls can be found in Manila, the nation’s capital. There’s nearly 100 shopping malls here, retail podiums, bazaars and the like. World class items, food and personal services (spas, salon services, etc.) are very affordable compared to other nations around Asia. This is perfect for luxury travellers. Almost all large stores, restaurants, hotels and resorts accept major credit cards including American Express, Visa and Master Card.