diff --git a/packages/desktop-client/src/components/settings/Currency.tsx b/packages/desktop-client/src/components/settings/Currency.tsx
index dc6274a4ba..4a4d8f3033 100644
--- a/packages/desktop-client/src/components/settings/Currency.tsx
+++ b/packages/desktop-client/src/components/settings/Currency.tsx
@@ -45,6 +45,7 @@ export function CurrencySettings() {
     ['GBP', t('Pound Sterling')],
     ['HKD', t('Hong Kong Dollar')],
     // ['JPY', t('Yen')],
+    ['PHP', t('Philippine Peso')],
     ['SEK', t('Swedish Krona')],
     ['SGD', t('Singapore Dollar')],
     ['TRY', t('Turkish Lira')],
diff --git a/packages/loot-core/src/shared/currencies.ts b/packages/loot-core/src/shared/currencies.ts
index 8422e330d5..6a3607b05f 100644
--- a/packages/loot-core/src/shared/currencies.ts
+++ b/packages/loot-core/src/shared/currencies.ts
@@ -20,6 +20,7 @@ export const currencies: Currency[] = [
   { code: 'GBP', name: 'Pound Sterling', symbol: '£', decimalPlaces: 2 },
   { code: 'HKD', name: 'Hong Kong Dollar', symbol: 'HK$', decimalPlaces: 2 },
   // { code: 'JPY', name: 'Yen', symbol: '¥', decimalPlaces: 0 },
+  { code: 'PHP', name: 'Philippine Peso', symbol: '₱', decimalPlaces: 2 },
   { code: 'SEK', name: 'Swedish Krona', symbol: 'kr', decimalPlaces: 2 },
   { code: 'SGD', name: 'Singapore Dollar', symbol: 'S$', decimalPlaces: 2 },
   { code: 'TRY', name: 'Turkish Lira', symbol: '₺', decimalPlaces: 2 },
diff --git a/upcoming-release-notes/5507.md b/upcoming-release-notes/5507.md
new file mode 100644
index 0000000000..02a53851ee
--- /dev/null
+++ b/upcoming-release-notes/5507.md
@@ -0,0 +1,6 @@
+---
+category: Enhancements
+authors: [joel-jeremy]
+---
+
+Add Philippine Peso currency