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🇲🇽 MXN / 🇵🇭 PHP ✓ Official Mid-Market Rate (0% Markup) Independent Analysis

MXN to PHP Exchange Rate & Bank Wire Fee Comparison (2026)

Convert Mexican Peso (MXN) to Philippine Peso (PHP). The live interbank midpoint rate is 1 MXN = 2.9320 PHP. Compare hidden currency conversion spreads across major international wire systems.

Live Converter

MXN to PHP Real-Time Calculator

Sourced via Central Bank Interbank Feeds
Quick amounts
Mex$
→
₱
2,931.99
Official benchmark rate (0% markup applied)
Rate Alert Monitor

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Historical Benchmarks

MXN to PHP Historical Exchange Rates

Official central bank reference rates across 30-day, quarterly, and annual lookbacks.

Official Reference Feeds
Period Interbank Midpoint Yield on Mex$1,000 Trend / Variance
Today (Interbank Midpoint) 1 MXN = 2.9320 PHP ₱2,931.99 Current Live Rate
30 Days Ago 1 MXN = 2.9203 PHP ₱2,920.26 +0.4% (Higher)
90 Days Ago (Quarterly) 1 MXN = 2.9672 PHP ₱2,967.17 -1.2% (Lower)
180 Days Ago (Half-Year) 1 MXN = 2.8704 PHP ₱2,870.42 +2.1% (Higher)
1 Year Ago (52W Midpoint) 1 MXN = 2.9320 PHP ₱2,931.99 +0.0% vs Annual Baseline
Settlement Timeline

MXN to PHP Delivery & Settlement Windows

Estimated delivery windows based on standard clearing rails and banking cut-off schedules.

Target System: InstaPay / PESONet
Direct Domestic Rail 0 - 2 Hours

Local Automated Clearing

Transfers settling through local domestic rails (InstaPay / PESONet) typically clear within hours during standard operating windows.

Weekend Processing: Active on 24/7 Rails
Retail SWIFT Wire 1 - 3 Business Days

Correspondent Banking

Traditional commercial banks route through intermediary correspondent networks, adding clearing stops and compliance verifications.

Standard Cut-off: 15:00 Local Bank Time
Banking Calendar Standard Schedule

Cut-off & Holiday Factors

Wires sent after Friday 15:00 local time or during official bank holidays in either origin or destination will hold until Monday morning.

Holiday Settlement: Next Business Day
⚠️

Important Clearing Disclaimer: Settlement timeframes are estimates based on standard bank operating windows and domestic clearing rail architectures (InstaPay / PESONet). Actual arrival is subject to originating bank cut-off deadlines, correspondent intermediary verification checkpoints, and international AML/KYC screening. Not a contractual arrival guarantee.

Institutional Market Windows

Global FX Market Trading Sessions & Real-Time Liquidity Clock

Live status of the four major international interbank wholesale currency dealing desks (UTC standard).

00:00:00 UTC
🇦🇺 Sydney Session
CLOSED
Wholesale Hours: 21:00 - 06:00 UTC
Pacific Clearing Window
🇯🇵 Tokyo Session
CLOSED
Wholesale Hours: 00:00 - 09:00 UTC
Asian Core Hub (21% Vol)
🇬🇧 London Session
CLOSED
Wholesale Hours: 08:00 - 17:00 UTC
European Core Hub (38% Vol)
🇺🇸 New York Session
CLOSED
Wholesale Hours: 13:00 - 22:00 UTC
Americas Core Hub (19% Vol)
🧭 Current Market Liquidity Status: Calculating...
Optimal execution: During London & NY overlap (13:00 - 17:00 UTC)

ℹ️ Market Operational Notice: Institutional trading sessions reflect international wholesale dealing hours. Retail bank wire transfers execute according to the sending and receiving commercial banks local business day cut-off calendars. For educational and liquidity timing analysis only.

Transfer Preparation

Required Details to Wire MXN to PHP

Make sure you have these exact payment credentials before initiating your transfer.

1. Recipient Identity

Beneficiary Full Name

Exact match as registered on recipient bank account.

2. Account Identifier

InstaPay / PESONet

IBAN, Account Number, or local domestic routing code.

3. Bank Code

SWIFT / BIC Code

8 or 11 character identifier of the recipient's bank branch.

4. Transfer Purpose

Payment Reference

Invoice number or descriptive reference for AML compliance.

Macroeconomic Analysis

MXN vs PHP: Central Bank Policy & Inflation Matrix

Official interest rate benchmarks and consumer price index (CPI) differentials shaping cross-border value.

Official Macro Indicators
🇲🇽

Mexican Peso (MXN)

Bank of Mexico (Banxico)

Policy Rate

10.5%

Benchmark rate
Annual CPI Inflation

4.5%

Consumer prices
Estimated Real Yield (Rate - Inflation): +6.0%
🇵🇭

Philippine Peso (PHP)

Bangko Sentral ng Pilipinas (BSP)

Policy Rate

6.0%

Benchmark rate
Annual CPI Inflation

3.3%

Consumer prices
Estimated Real Yield (Rate - Inflation): +2.7%
Policy Rate Differential: 4.50% (MXN vs PHP)
Inflation Differential: 1.20% (Annual CPI spread)
ℹ️

Macroeconomic Policy Notice: Central bank interest rates and CPI metrics are compiled from public statistical releases (Bank of Mexico (Banxico), Bangko Sentral ng Pilipinas (BSP)) for macroeconomic educational context. They do not constitute retail banking deposit guarantees or investment advice. WireCompare does not provide portfolio management or trading services.

Interactive Trend Analysis

MXN to PHP Historical Exchange Rate Chart

Real-time interbank rate trajectory across standard historical observation periods.

Period Low

--

Period High

--

Period Average

--

Current Spot

₱2.9320

⚖️ Historical Data Disclaimer: Historical exchange rate trajectory is synthesized from official central bank reference fixes and interbank mid-market fixes. Past foreign exchange movements do not predict future trends. For informational, educational, and analytical benchmarking purposes only.

Corridor Volatility & Trend

52-Week Exchange Rate Position

Liquidity Status: High & Stable
52W Low: ₱2.8147 Current: ₱2.9320 52W High: ₱3.0493
Lower bound Current rate sits at 50.0% of annual range Upper bound
Independent Market Analysis

Compare Wire Transfer Costs: MXN to PHP

Estimates based on standard retail bank margins vs direct interbank rail settling.

Zero Promotional Bias
Mex$1,000 MXN
Mex$250 Mex$5,000 Mex$10,000 Mex$20,000
Benchmark

Direct Midpoint Rail

0.0% Rate Markup (Interbank)

Rail Fee:Mex$4.50
Rate:2.9320
Clearing:Instant / Same Day
Recipient Receives

₱2,931.99

Maximum Yield

Optimal Benchmark Rail
Retail SWIFT

Commercial Banks

~3.2% Hidden FX Margin

SWIFT Fee:Mex$25.00
Bank Rate:2.8382
Speed:2-4 Business Days
Recipient Receives

₱872.53

-Lost to Hidden Margin

High Intermediary Margin
Consumer Wallet

Global Wallets

3.5% Currency Spread

Tx Fee:Mex$4.99
Rate:2.8294
Speed:Instant (Closed Wallet)
Recipient Receives

₱887.41

Closed loop balance

Convenient but Marked Up
Cash Agent

Cash Remittance

Retail Spread + Cash Fee

Counter Fee:Mex$8.00
Rate:2.8616
Speed:Physical Counter / 1 Day
Recipient Receives

₱896.12

Physical cash pickup

Agent Network Fee
Transparent Cost Breakdown

Traditional Bank Wire Cost Itemization (MXN to PHP)

See how retail banks charge upfront wire fees, SWIFT intermediary deductions, and currency markup.

Based on G20 Remittance Pricing Metrics
Transfer Principal: Mex$1,000.00 MXN
1. Originating Bank Upfront Wire Fee

Fixed outgoing international wire tariff charged by retail banks.

Mex$25.00
2. SWIFT Intermediary / Correspondent Bank Fee

Charged by routing banks under standard SWIFT SHA/BEN clearing rules.

Mex$20.00
3. Retail Exchange Rate Margin (Hidden Spread)

Typical 2.8% markup added on top of the interbank midpoint.

Mex$28.00
Total Traditional Bank Friction: -Mex$73.00
Recipient Receives via Commercial Bank: ₱883.60
Transparent Direct Rail 0% Rate Markup
Direct Domestic Clearing Fee: Mex$4.50
Intermediary Correspondent Deductions: Mex$0.00 (Bypassed)
Currency Exchange Markup: 0.00% (Interbank Spot)
Recipient Receives: ₱2,918.80
Estimated Direct Advantage: +₱2,035.20

🔒 Benchmarking Methodology & Regulatory Notice: The simulated fee itemization reflects empirical retail banking wire pricing standards reported under the G20 Financial Stability Board cross-border payment targets and World Bank Remittance Prices Worldwide dataset. SWIFT correspondent deductions depend on whether the transfer is initiated as OUR, SHA, or BEN, and intermediary routing hops. WireCompare is an independent analytical benchmark engine, not a regulated bank.

Lookup Tables

MXN to PHP Fast Conversion Matrix

Direct interbank rate values compared against typical commercial bank payouts.

🇲🇽 MXN to 🇵🇭 PHP

1 MXN = 2.9320 PHP
Amount Mid-Market Rate Bank Payout Hidden Spread
Mex$1 MXN ₱2.93 PHP ₱0.00 -₱56.86
Mex$5 MXN ₱14.66 PHP ₱0.00 -₱57.23
Mex$10 MXN ₱29.32 PHP ₱0.00 -₱57.70
Mex$25 MXN ₱73.30 PHP ₱14.19 -₱59.11
Mex$50 MXN ₱146.60 PHP ₱85.14 -₱61.45
Mex$100 MXN ₱293.20 PHP ₱227.05 -₱66.15
Mex$250 MXN ₱733.00 PHP ₱652.78 -₱80.22
Mex$500 MXN ₱1,465.99 PHP ₱1,362.32 -₱103.68
Mex$1,000 MXN ₱2,931.99 PHP ₱2,781.40 -₱150.59
Mex$5,000 MXN ₱14,659.95 PHP ₱14,134.07 -₱525.88
Mex$10,000 MXN ₱29,319.90 PHP ₱28,324.90 -₱995.00

🇵🇭 PHP to 🇲🇽 MXN (Reverse)

1 PHP = 0.3411 MXN
Amount Mid-Market Rate Bank Payout Hidden Spread
₱1 PHP Mex$0.34 MXN Mex$0.00 -Mex$6.61
₱5 PHP Mex$1.71 MXN Mex$0.00 -Mex$6.66
₱10 PHP Mex$3.41 MXN Mex$0.00 -Mex$6.71
₱25 PHP Mex$8.53 MXN Mex$1.65 -Mex$6.88
₱50 PHP Mex$17.05 MXN Mex$9.90 -Mex$7.15
₱100 PHP Mex$34.11 MXN Mex$26.41 -Mex$7.69
₱250 PHP Mex$85.27 MXN Mex$75.93 -Mex$9.33
₱500 PHP Mex$170.53 MXN Mex$158.47 -Mex$12.06
₱1,000 PHP Mex$341.06 MXN Mex$323.55 -Mex$17.52
₱5,000 PHP Mex$1,705.33 MXN Mex$1,644.15 -Mex$61.17
₱10,000 PHP Mex$3,410.65 MXN Mex$3,294.91 -Mex$115.74
Mid-Market Rate

2.9320

1 MXN = ₱2.9320

Inverse Rate

0.3411

1 PHP = Mex$0.3411

52-Week Range

2.8147 - 3.0493

Annual volatility band

Target Bank System

InstaPay / PESONet

Clearing rail for PHP

Knowledge Base

Frequently Asked Questions (MXN to PHP)

Click any question to expand
Q What is the current exchange rate for MXN to PHP?
As of 2026, the real mid-market interbank rate is 1 MXN = 2.93199 PHP. This is the true benchmark rate with zero hidden bank markup.
Q How much does a bank charge to send MXN to PHP?
Most traditional high-street banks charge a front-end wire fee of around Mex$25 plus a 2.5% to 4% hidden exchange rate markup. On a Mex$1,000 transfer, you typically lose around ₱151.59 compared to specialized neobanks like Wise.
Q What bank codes are needed to send PHP to Philippines?
To receive PHP in Philippines, the recipient typically needs to provide their InstaPay / PESONet.
Q How fast does an international transfer take between MXN and PHP?
Using modern digital payment networks (like Wise or local fast rails), transfers often arrive within minutes or hours. Traditional SWIFT bank wires take 2 to 4 business days.

Related Corridors From MXN

View Reverse: PHP to MXN →

MXN → USD

1 MXN = 0.0504 USD

MXN → EUR

1 MXN = 0.0466 EUR

MXN → GBP

1 MXN = 0.0389 GBP

MXN → JPY

1 MXN = 7.6776 JPY