Cash remittances rose to $3.035B in August 2026 — BSP data

Cash remittances from overseas Filipinos increased year-on-year in August 2026, data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed.

Cash remittances, or money transfers coursed through banks, stood at $3.035 billion in August, up 1.9% from $2.98 billion recorded in August last year.

Year-to-date, cash remittances reached $23.424 billion, up 2.2% from $22.909 billion in the same period last year.

The United States remained the biggest source of inflows at 39.8%, followed by Singapore at 7.1% and Saudi Arabia at 6.3%.

Meanwhile, personal remittances — the sum of transfers sent in cash or in kind, including those coursed through informal channels — totaled $3.372 billion, up from $3.307 billion in August last year.

“Seasonally adjusted personal remittances, which include cash sent through banks and informal channels as well as remittances in kind, also increased slightly in August 2026, suggesting sustained underlying remittance growth after accounting for seasonal factors,” the BSP said.

“These inflows continued to underpin household spending and domestic economic activity, reflecting the resilience of remittance flows as a key source of household income and external financing,” the central bank said. — RSJ, GMA News