Mactan Cebu Airport (CEB) is the second busiest airport in the Philippines. As it serves Cebu and the Central Visayas, you might be taking one of international flights to this airport. How good or bad are the currency exchange rates at Cebu Airport?
Money Changer at Cebu Airport
As we didn't have much time to get familiar with the airport, the only money changer at Cebu Airport we could find was Curex Money Changer. It's the only money changer that is promoted on the official website of Mactan Cebu Airport so it might be your only choice as we didn't notice any other as well.
Foreign Exchange Rates at Mactan Cebu Airport (CEB)
One thing is clear, Cebu Airport foreign exchange rates are much worse than you can get at Manila Airport. If you are taking domestic flight from Manila to Cebu, better exchange foreign currency to Philippine Pesos (PHP) before boarding the plane.
What foreign exchange rates can be expected at Cebu Airport?
USD to PHP exchange rate at Cebu Airport
The official USD exchange rate at the time was 52.10 PHP for 1 US Dollar, so the rate offered at Mactan Cebu Airport (49.15 PHP/USD) was by 2.95 PHP lower than the market rate. For every dollar exchanged here you’re losing about 0.057 USD or 5.7 USD per 100 USD.
At the same time, money changers in Manila were offering 52.00 PHP/USD.
EUR to PHP exchange rate at Cebu Airport
The official EUR exchange rate at the time was 64.10 PHP for 1 Euro, so the rate offered at Cebu Airport (60.69 PHP/EUR) was by 3.41 PHP lower than the market rate. For every Euro exchanged here you’re losing about 0.053 EUR or about 5.3 EUR per 100 EUR.
At the same time, some of money changers in Manila were offering 63.80 PHP/EUR.
Exchange rates of other currencies at Cebu Airport
The official GBP exchange rate at the time was 72.95 PHP for 1 Sterling Pound, so the rate offered at Cebu Airport (69.27 PHP/GBP) was by 3.68 PHP or 5.0% lower than the market rate.
The official AUD exchange rate at the time was 39.98 PHP for 1 Australian Dollar, so the rate offered at Cebu Airport (35.73 PHP/AUD) was by 4.25 PHP or about 10.6% lower than the market rate.
The official SGD exchange rate at the time was 39.58 PHP for 1 Singapore Dollar, so the rate offered at Cebu Airport (37.48 PHP/SGD) was by 2.10 PHP or about 5.3% lower than the market rate.
Foreign currency exchange "Sell" rates at Cebu Airport are not competitive as well, so we opted to spend all our Philippine Peso leftovers for gifts and food instead of giving away money at such a low rate.
Tips
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.
Foreign exchange rates at Cebu Airport are worse than in Manila. More details about foreign exchange rates at Manila Airport check:
If a visit to Panagsama Beach and the nearby Moalboal town is included in your Cebu trip plan, check what currency exchange rates you can expect in Moalboal.
More tips for traveling in Philippines can be found here: Philippines Travel Tips.