The currency used in Cebu is the same currency that is used all over the Philippines, its mother country. This is the Philippine peso. One peso is divided into a hundred centavos. There are coins for 5, 10 and 25 cents, as well as for 1, 5 and 10 pesos. There are bills for 20, 50, 100, 500 and 1,000 pesos. As of early August 2009, the value of a single peso was equivalent to 0.013 British pounds, 0.015 Euro and 0.021 US dollars. Depending where you are or who you deal with, you will find that prices for foreigners are much higher than for locals. In this sense, be careful when riding taxis. Always make sure that the driver is using his taxi metre in charging you a fee. Tipping is a practice in Cebu, though in not so large amounts. A typical restaurant tip would be at least 20 pesos. Some restaurants include a 20% service fee in the bill.
Cebuanos are generally regarded as “hard to please” people, but this is not exactly true. Cebuanos simply want to make sure that they have the best value for their money, and they show it in their purchase decisions. For example, when a Cebuano attends a concert, he or she wants to make sure that the entertainment he gets is worth the ticket price. Even if the artist may happen to be his favourite, if his performance seems mediocre for a ticket priced at 1,500 pesos or more, than the Cebuano audience will not be pleased. This is why Cebu is known to be the test ground that will show the true measure of a celebrity’s success. Having said thus, Cebuanos will willingly pay hundreds for a buffet that will endlessly pleasure and immensely satisfy their taste buds.
