In The Economist’s July 2026 Big Mac Index, the Philippine peso was 56% undervalued against the US dollar, making it the fourth-most undervalued currency in the index. A Big Mac cost P169 in the Philippines, compared with $6.22 in the US, implying a purchasing power parity exchange rate of P27.17 per US dollar. The index uses Big Mac prices as a simple gauge of whether currencies are under- or overvalued.