In November 1960, the decontrol program enlarged the amount of transactions valued at the free market rate to 50 percent of all foreign exchange receipts with the exchange rate at the free market reduced to P3.00 to $1.00.
On November 8, 1965, the decontrol program was completed and the peso was devalued to P3.90 to a dollar.
On February 21, 1970, the Philippines adopted the floating rate system with the first interbank guiding rate subsequently determined at P5.6282 to US$1.00 on February 24, 1970.
The peso's exchange rate experienced two hefty depreciations in 1983: from P10.083 per US$.00 in May to P11.0015 per US$1.00 in June (9.1 percent) and from P11.002 per US$1.00 in September to P14.002 per US$1.00 in October (27.3 percent).
After June 1984, when the peso depreciated by 28.6 percent from P14.002 to P18.002, the peso thereafter settled at P19.97 at the end of 1984 and appreciated by 7 percent to P18.4 in January 1985."
Sometime in 1990’s, the rate for $1.00 is P24.268.
For the past ten years, the rate for $1.00 is:
2000 = P 44.14
2001 = P51.002
2002 = P51.5762
2010 = P43.679