Details about the 1 EUR to PHP Exchange Rate Today, August 1, 2022
1 EUR TO PHP – Here is the exchange rate between Euro and the Philippine Peso today, Monday, August 1, 2022.
Many Filipinos are working abroad. Truth be told that these people braved the unknown fate that awaits them in other countries to be able to give their families and loved ones a brighter future and a more comfortable life. The compensation abroad for several jobs and professions is higher compared to what can be earned in the Philippines thus some people take the risk of working away from their families.
Among the countries where there are a lot of overseas Filipino workers (OFWs) are European nations. These include Germany, France, Italy, Portugal, Belgium, Spain, Greece, Austria, Netherlands, Finland, and Ireland.
For most OFWs, they send a bigger amount of what they earn abroad to their families in the Philippines. This is where the role of the Euro to Peso exchange rate plays as it affects how much the families of these OFWs in European countries would receive.
If the Peso is weak to the Euro, the families of OFWs in European countries may receive a bigger amount of what their loved ones is sending them from abroad. Usually, the budget is divided between the household utility bills, food, the education of the children, and the investment.
Most OFWs really make sure they invest a lot while they work abroad recognizing that their jobs outside the country are not permanent. Also, many of them want to save a lot so the time will come that they no longer need to work away from their families.
The exchange rate between the currencies of European countries and the Philippines may change from time to time – even on a daily basis. For today, Monday, August 1, 2022, here is the 1 EUR to PHP exchange rate as per the Asia United Bank (AUB):
- Buying – 55.9653
- Selling – 57.3068
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