Cash remittances climb in January | ABS-CBN
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Cash remittances climb in January
MANILA -- Cash remittances were up in the first month of the year.
MANILA -- Cash remittances were up in the first month of the year.
In a statement, the Bangko Sentral ng Pilipinas said cash remittances from overseas Filipinos reached $2.92 billion in January, up 2.9 percent from the $2.84 billion seen in the same month in 2024.
In a statement, the Bangko Sentral ng Pilipinas said cash remittances from overseas Filipinos reached $2.92 billion in January, up 2.9 percent from the $2.84 billion seen in the same month in 2024.
The BSP said growth in remittances from Saudi Arabia, the United States, Singapore, and the United Arab Emirates boosted numbers at the3 start of the year.
The BSP said growth in remittances from Saudi Arabia, the United States, Singapore, and the United Arab Emirates boosted numbers at the3 start of the year.
Meanwhile, personal remittances also climbed by 2.9 percent to $3.24 billion, from $3.15 billion the year before. The cash came in form both land- and sea-based workers.
Meanwhile, personal remittances also climbed by 2.9 percent to $3.24 billion, from $3.15 billion the year before. The cash came in form both land- and sea-based workers.
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The Philippines is one of the largest recipients of remittances. Money sent home by overseas Filipinos helps power domestic consumption and drive economic growth.
The Philippines is one of the largest recipients of remittances. Money sent home by overseas Filipinos helps power domestic consumption and drive economic growth.
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