The monetary unit is the peso, divided into 100 centavos. As of July 2010, the appproximate exchange rate was 44 Philippine pesos to the Canadian dollar. (For the latest exchange rates, see the Bank of Canada's official online calculator.)
The central bank, Bangko Sentral ng Pilipinas, supervises authorized foreign exchange dealers at airports, hotels, major commercial establishments and all bank branches, and posts official exchange rates for most international currencies. Non-residents may bring any amount of currency into the country, but amounts over US$3,000 (approximately C$4,000) should be declared upon entry if you intend to take that amount with you when you leave the Philippines. Automated teller machines abound and accept both Visa and Mastercard credit cards.