Buy bitcoin in Philippine Peso

1. The price difference between the Philippines and China is not much. 1000 PISO is equivalent to 150 RMB. The consumption in Manila, the capital, is relatively high, which is equivalent to the level of second tier cities in China. Except Manila, the consumption in other provinces is very low. Two hour full body massage plus foot massage is 500 PISO and 70 yuan, which is the price in Manila and cheaper in other places.

2. It's more cost-effective to change US dollars in China and pesos after that. It's everywhere. It's just to see where there are more. I don't remember where it was changed. It's near their long-distance bus station. One dollar is nearly 50 Pesos. It's OK to have UnionPay card at ATM. 200 pesos will be dected once. I use CCB.

3. It's cost-effective to exchange Peso directly into RMB. The more times you exchange peso, the less cost-effective it is. You can find some local exchange shops or the first hotel or people in the group who often need Peso to exchange RMB. It's calculated according to the exchange rate of the day.

4. In Beijing, ICBC is the most cost-effective
or take the UnionPay card to the local place, with a limit of 20000 pesos per transaction, and no more than 10000 pesos per day
exchange dollars for pesos at the airport, and the relative exchange rate at the airport is the best.

5. 1 Philippine Peso = 0.1426 RMB
1 RMB ≈ 7.0114 Philippine Peso

6. There are two kinds of foreign exchange rates in bank transactions: the buying rate of cash and the buying rate of cash. Can open an account in the platform to do foreign exchange.

7. In terms of exchange rate, RMB is more valuable (1 RMB = 7.0742 Philippine Peso), but when I spent money on Long Beach Island in the Philippines, I felt that both food, housing and transportation were cheaper than those in China, as for a famous scenic spot. So it depends on whether you compare exchange rate or purchasing power

8. As far as I know, you can only send it to the place where you can exchange the Philippine Peso, change it into the currency that can be exchanged in the mainland, such as US dollars, and then exchange it back

9.

Indivials holding foreign currency can exchange RMB with banks with foreign exchange, such as Bank of China, construction bank, Agricultural Bank of China, etc

According to Article 5 of the measures for the administration of indivial foreign exchange, indivials shall handle relevant foreign exchange business in accordance with these measures. Banks shall handle the business of foreign exchange receipt and payment, settlement and sale of foreign exchange and opening foreign exchange accounts for indivials in accordance with the provisions of these measures, and examine the authenticity of the valid identity documents and relevant supporting materials submitted by indivials. Remittance institutions and foreign currency exchange institutions (including exchange agencies) shall handle personal foreign exchange business for indivials in accordance with these measures

Article 15 when an overseas indivial converts the unused RMB back into foreign currency cash, the small amount exchange shall be handled in a bank or foreign currency exchange institution with his / her valid identity card; If the amount exceeds the prescribed amount, it can be handled in the bank with the original exchange memo

extended information:

Article 4 of the detailed rules for the implementation of the measures for the administration of indivial foreign exchange stipulates that an indivial may entrust his immediate family members to handle the purchase and settlement of foreign exchange within the annual total amount; The purchase and settlement of foreign exchange in excess of the annual total amount and the purchase of foreign exchange by overseas indivials may be entrusted by others with relevant supporting materials in accordance with the provisions of these rules

Article 6 designated foreign exchange banks (hereinafter referred to as banks) shall verify the authenticity of indivial foreign exchange business in accordance with these rules, and shall not forge or alter transactions. Banks shall handle personal purchase and settlement of foreign exchange through the personal settlement and sale of foreign exchange management information system (hereinafter referred to as the personal settlement and sale of foreign exchange system), and input relevant information truthfully, accurately and completely

10. As the exchange rate is changing all the time, China's adjustment is based on market supply and demand with reference to a basket of currencies. According to the latest (April 28, 2015) interbank counter transaction price:

1 RMB = 7.1330 Philippine Peso
1 Philippine Peso = 0.1402 RMB

then we can calculate 100 * 7.1330 = 713.3 peso
as the exchange rate is changing all the time, so is the convertibility ratio. The exchange rate can be determined by referring to the daily exchange rate between banks

refer to the foreign exchange rate of Bank of China: http://www.boc.cn/sourcedb/whpj/