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 the international flights to this airport and thinking of using Cebu Airport's money exchange service. Let's check how good or bad the currency exchange rate at Cebu Airport can be expected.
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Cebu Airport Money Exchange
Cebu Airport is one of the busiest airports in the Philippines, and it receives quite many domestic and international flights. As most local businesses still prefer cash, and it’s often the only possible payment option in the Philippines, getting local currency (Philippine Pesos - PHP) right at the airport might be needed.
Cebu Airport offers you 2 options for getting local currency:
- Withdrawal from ATM;
- Currency Exchange.
Withdrawal from an ATM might be a less cost-effective option in the Philippines, 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 a Filipino bank.
To get the best foreign exchange rate in Cebu, 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!
Using the service of currency exchange is another option for getting local money at Cebu Airport. However, the exchange rate here is not as good as you can get at NAIA Terminal 3 money changer.
Cebu Airport Money Exchange Offices
As we didn't have much time to get familiar with the airport, the only money changer at Cebu Airport we could find at the time of our visit was Curex Money Changer. It was also the only money changer that is promoted on the website of Mactan Cebu Airport, so previously it was most probably your only choice.
According to the latest reports, Cebu Airport money exchange service is now also provided by a branch of Lulu Money (Currency Exchange), so now it might be worth shopping around. However, the exchange rate will still be worse than you can get in the Philippines.
Cebu Airport Money Exchange Rate
As it was mentioned, Cebu Airport exchange rates are much worse than you can get at Manila Airport. If you are taking a domestic flight from Manila to Cebu, it is better to exchange foreign currency for Philippine Pesos (PHP) before boarding the plane.
What foreign exchange rates can be expected at Cebu Airport? During our visit, the exchange rates for different currencies were as displayed below.
However, the exchange rates are dynamic, and money changers also adjust their margins, so you might be getting a better or worse deal than we could get at the Cebu Airport money exchange. For more details about Cebu Airport money exchange rate, check below.
To get the best foreign exchange rate in Cebu, get a Wise Card before your trip, as it will definitely be much cheaper than using your bank card or exchanging cash at Cebu Airport!
USD to PHP exchange rate at Cebu Airport
The mid-market USD exchange rate at the time was 52.10 PHP for 1 US dollar, so the rate offered at Mactan Cebu Airport money exchange (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 mid-market EUR exchange rate at the time was 64.10 PHP for 1 Euro, so the rate offered at CEB 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 the money changers in Manila were offering 63.80 PHP/EUR.
Exchange rate of other currencies at Cebu Airport
The mid-market 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 mid-market AUD exchange rate at the time was 39.98 PHP for 1 Australian Dollar, so the rate offered at CEB Airport (35.73 PHP/AUD) was by 4.25 PHP or about 10.6% lower than the market rate.
The mid-market 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 money exchange 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.
Cebu Airport Money Exchange Rate Today
What currency exchange rates can be expected at Cebu 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.
Cebu Airport money xchange rate today will be lower than the mid-market exchange rate found via the link above. At CEB Airport, you expect the exchange rates of the most popular foreign currencies such as USD, EUR, GBP, and AUD to be around 5-6% lower than the mid-market rate.
Tips
To get the best foreign exchange rate in Cebu, get a Wise Card before traveling.
Philippines SIM card can be booked online and picked up at Cebu Airport without cash payments, and it's usually cheaper! Otherwise, you can get eSIM Philippines by instant email delivery.
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 the Philippines can be found here: Philippines Travel Tips.
