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 and thinking of using Cebu Airport money exchange service. Let's check, how good or bad currency exchange rate at Cebu Airport can be expected.
Cebu Airport Money Exchange
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 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 report, 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.
Mactan Cebu Airport Exchange Rate
One thing is clear, Cebu Airport exchange rate 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? During our visit they 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 Cebu Airport money exchange.
The best way to know how good the rates at the airport are is comparing them with the mid-market rate. To find the current mid-market exchange rate, check here - PHP exchange rates, and you will get an idea what to expect as currency exchange rate at Cebu Airport will be significantly lower than that.
To get the best foreign exchange rate in Cebu, 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!
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 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 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 Cebu 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.
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 Philippines can be found here: Philippines Travel Tips.
