Manila Ninoy Aquino International Airport (MNL), or NAIA, is the main airport of the Philippines. As NAIA terminals are apart, currency exchange facilities in each of them are quite different. Discover what foreign exchange rate is offered by the best NAIA Terminal 1 money changer.
Table of Contents
NAIA Terminal 1 Money Exchange in Manila
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 the 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 a 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 lose on the exchange rate but also have to pay your bank’s foreign withdrawal fees and, in most cases, an additional fee for the local bank.
To get the best foreign exchange rate in Manila, get a Wise Card before your trip so you can 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 not be the best in town, but they still offer quite a good value, especially if you are bringing USD.
NAIA Terminal 1 Money Changer Offices
NAIA Terminal 1 money changer offices are located at arrivals and departure areas. Most of them can be found at the arrivals area, on your right after passing 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 by 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. The 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.
Exchange Rate by NAIA Terminal 1 Money Changer
What foreign exchange rates can be expected at NAIA Terminal 1?
USD to PHP exchange rate
The mid-market 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 mid-market 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
The mid-market 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 mid-market rate. For every euro exchanged here, you’re losing about 0.017 EUR, or about 1.7 EUR per 100 EUR. The euro exchange rate is significantly worse than the 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 euros 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
The mid-market 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 1.11 PHP lower than the mid-market rate. GBP exchange rates varied from 72.20 PHP to 72.60 PHP for 1 pound, depending on the bank.
The mid-market 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 mid-market rate. AUD exchange rates varied from 39.20 PHP to 39.55 PHP for 1 dollar, depending on the bank.
Best Money Changer Exchange Rate 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.
NAIA Airport Terminal 1 Money Exchange Rate Today
What currency exchange rates can be expected at NAIA Airport today? As you know, exchange rates vary during the day, so the best way to imagine how good the rates at the airport are is by comparing them with the mid-market rate on the day of checking. To find the current mid-market exchange rate, check here: PHP exchange rates.
NAIA Airport Terminal 1 money changer exchange rate today will be a bit lower than the mid-market exchange rate found via the link above. At NAIA Terminal 1, you expect the USD exchange rate to be around 0.5-1% lower than the USD/PHP mid-market exchange rate, while exchange rates of other popular currencies such as EUR, GBP, and AUD should be around 1.5-2% lower than the mid-market rate.
Tips
To get the best foreign exchange rate in Manila, get a Wise Card before traveling.
If you will be arriving at NAIA Terminal 3, check your options for currency exchange here: Currency Exchange at NAIA Terminal 3.
Philippines SIM card can be booked online and picked up at Manila Airport without cash payments, and it's usually cheaper! Otherwise, you can get eSIM Philippines by instant email delivery.
For a trip from the airport into the city, choose a convenient transfer from Ninoy Aquino International Airport to major cities in Metro Manila by booking a private transfer here: Private NAIA Airport Transfers to Manila.
If you are flying out early in the morning or arriving late in the evening, staying overnight at one of the hotels near Manila Airport might be a good idea. The hotels nearest to NAIA Terminal 1 are the following:
RedDoorz @ Manila Airport Hotel
However, pay attention that all hotels located next to NAIA Terminal 1 are rated pretty bad and might be disappointing. More decent accommodation options can be found less than 4 km or a 10-minute drive from the airport.
For a comfortable stay close to NAIA Terminal 1, you can choose one of the following:
