Currency & Money Matters
The Philippines is definitely a place to visit if you’re looking for more bang for your buck.
Exchanging Foreign Currency
Foreign currency may be exchanged at most hotels, and in most of the large department stores, banks and authorised money changing shops. Exchanging money anywhere else is illegal and the laws are strictly enforced. For the latest exchange rate, check Bangko Sentral ng Pilipinas (Central Bank of the Philippines).
A tip of 10% of the total bill is the usual practice. Check to see if the bill already includes the 10% service charge as in these cases, tipping is optional.
Most banks close by 4:00 p.m. But ATMs – are common in most cities and major towns.
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