Manila Ninoy Aquino International Airport (MNL) or NAIA is the main airport of Philippines. As NAIA terminals are apart, currency exchange facilities in each of them are quite different. Check what foreign exchange rates you can get at NAIA Terminal 1.
Even if NAIA Terminal 1 is not as busy as the new NAIA Terminal 3, you might still find your international flight landing at Terminal 1 of Manila Airport, just like we did when taking a flight from Singapore with Jetstar Airlines. Cash is still the preferred payment method in Manila and Philippines in general so be ready to get some local currency (Philippine Pesos - PHP) right at the airport as you will need some for getting a taxi or buying local SIM card.
You have 2 options for getting Philippine Pesos at NAIA Terminal 1:
- Withdraw cash from ATM;
- Exchange your currency.
Cash withdrawal might be the safer but definitely less cost effective option as you will not only loose on exchange rate but also have to pay your bank’s foreign withdrawal fees and in most cases an addition fee for local bank.
To get the best foreign exchange rate in Manila, get a Wise Card before your trip so you could withdraw Philippine Pesos at the current mid-market rate and pay just a very small exchange fee for it. It will definitely be much cheaper than using your bank card or exchanging cash at the airport!
Foreign exchange rates at Terminal 1 of Manila Airport might be not the best in town but they still offer quite a good value, especially if you are bringing USD.
Currency Exchange Booths
Currency exchange booths at NAIA Terminal 1 are located at arrivals and departure areas. Most of them can be found at the arrivals area, on your right after passing the customs.
At Terminal 1 of Manila Airport you will find currency exchange booths of these banks:
Bank of Commerce NAIA Terminal 1 – open Monday to Friday, from 09:00 to 17:30
Security Bank NAIA Terminal 1 – open Monday to Friday from 09:00 to 21:00
Land Bank of the Philippines NAIA Terminal 1
Banco de Oro NAIA Terminal 1 - open Monday to Sunday, from 09:00 to midnight
Philippine National Bank NAIA Terminal 1 Departure Area – open Monday to Sunday, from 04:30 to 20:00
NAIA Terminal 1 Arrival Area – open Monday to Sunday, from 06:00 to 02:00
Philtrust Bank NAIA Terminal 1 Departure Level
Foreign exchange rates offered money changers at Terminal 1 of Manila Airport (MNL) are not bad, considering that the banks here don’t get much competition from smaller players. USD exchange rate was exactly the same in all booths (51.70 PHP during our visit) but shopping around for other currencies is really worth it as exchange rates of less popular currencies can vary significantly.
Foreign Exchange Rates at NAIA Terminal 1
What foreign exchange rates can be expected at NAIA Terminal 1?
USD to PHP exchange rate at NAIA Terminal 1
The official USD exchange rate at the time was 51.98 PHP for 1 dollar, so the rate offered at the airport (51.70 PHP/USD) was by 0.28 PHP lower than the official rate. For every dollar exchanged here you’re losing about 0.005 USD or 0.5 USD per 100 USD. It’s definitely a good deal that you could hardly get in your home country.
EUR to PHP exchange rate at NAIA Terminal 1
The official EUR exchange rate at the time was 64.29 PHP for 1 euro, so the best rate offered at the airport (63.20 PHP/EUR) was by 1.09 PHP lower than the official rate. For every euro exchanged here you’re losing about 0.017 EUR or about 1.7 EUR per 100 EUR. Euro exchange rate is significantly worse than USD exchange rate offered here but still most of the banks in Europe for international withdrawal would charge you more than that.
If you’re exchanging euro at Terminal 1 of Manila Airport, be sure to check the rates at a number of booths as we saw the rates varying from 62.90 PHP to 63.20 PHP for 1 euro, depending on the bank.
Exchange rates of other currencies at NAIA Terminal 1
The official GBP exchange rate at the time was 73.71 PHP for 1 pound, so the best rate offered at the airport (72.60 PHP/GBP) was by 1.11 PHP lower than the official rate. GBP exchange rates varied from 72.20 PHP to 72.60 PHP for 1 pound, depending on the bank.
The official AUD exchange rate at the time was 40.33 PHP for 1 dollar, so the best rate offered at the airport (39.55 PHP/AUD) was by 0.78 AUD or about 2% lower than the official rate. AUD exchange rates varied from 39.20 PHP to 39.55 PHP for 1 dollar, depending on the bank.
Best Exchange Rates at NAIA Terminal 1
During our visit, the best exchange rates at Terminal 1 of Manila Airport were offered by Security Bank.
Currency exchange booths of other banks managed to offer the same exchange rate for USD only. It might be just a coincidence but don’t forget to take a look at the board of Security Bank exchange rates before exchanging your currency at NAIA Terminal 1 in Manila.
Tips
To get the best foreign exchange rate in Manila, get a Wise Card before traveling.
If you are planning to use local mobile internet, book Philippines SIM card online and pick it up at the airport. It will help you to save money as you won't need to exchange currency at the airport and will be able to book Grab Taxi for getting into the city.
If you will be arriving at NAIA Terminal 3, check your options for currency exchange here: Currency Exchange at NAIA Terminal 3.
For a trip from the airport into the city choose NAIA Shuttle Bus Transfers for Manila or experience convenient transfers from Ninoy Aquino International Airport to major cities in Metro Manila by booking a private transfer here: Private NAIA Airport Transfers to Manila.