The main unit of currency of the Philippines is the Piso (₱), the international exchange code for which is PHP. The current limit of Filipino currency that can be brought into or taken out of the country is ₱ 10,000. Although the carrying of foreign currency is unrestricted, large amounts, exceeding 10,000 US $ or equivalent should be declared.

Philippines notes are issued in denominations of ₱ 5, ₱ 10, ₱ 20, ₱ 50, ₱ 100, ₱ 200, ₱ 500 and ₱ 1,000. The currency is further divided Sentimo, of which there are 100 to the Piso.

Coins are issued in denominations of 1 sentimo, 5 sentimo, 10 sentimo, 25 sentimo, ₱ 1, ₱ 5 and ₱ 10.

ATM’s accepting international cards are common in cities, major towns and other main tourist locations, but it should be noted that cash withdrawals carry a charge of ₱200. Withdrawals are usually restricted to ₱10,000.

Likewise, Credit Cards are also widely accepted as a means of payment in the major tourist destinations and hotels and shops, though it should be noted that retail outlets may often add a surcharge to cover Credit Card commissions.

Travellers Cheques are not recommended and have limited use, being highly unpopular, even in banks, though some can be persuaded to cash them. US $ are widely accepted by moneychangers and is the best alternative. Euros and Sterling, provided it’s the most familiar English variety, are also though less widely accepted.

Carrying cash is best accomplished using a money belt discreetly hidden under clothing, and beyond the reach of pickpockets, transferring smaller amounts of usable cash into a wallet for general use. Credit cards and passports are also best carried in this manner.