I needed cash today, so I went to the local ATM in the Philippines and withdrew 30,000-pesos. The machine had a limit of 20,000-pesos per transaction, so I had to take 20,000 and then 10,000. Of course, I was charged the 200-peso charge each time.
I received a conversion rate of 44.54 peso/USD on these withdrawals. I received a higher rate than at foreign exchange booth.