Philippine cash remittances rise 1.9% in August 2026
Bank-channel transfers reached US$23.424 billion in the year to date, a 2.2% increase from the corresponding period in 2025.
Overseas Filipinos sent US$3.035 billion through banks in August 2026, an increase of 1.9% from a year earlier, according to Bangko Sentral ng Pilipinas (BSP) figures published on October 15. The comparable August 2025 figure was US$2.98 billion.
Cumulative cash remittances for the year to date amounted to US$23.424 billion. That represented growth of 2.2% against US$22.909 billion during the corresponding period a year earlier.
The United States accounted for the largest share of inflows, at 39.8%. Singapore contributed 7.1%, while Saudi Arabia supplied 6.3%.
The broader measure of personal remittances reached US$3.372 billion in August, compared with US$3.307 billion a year earlier. This category covers cash and in-kind transfers, including money sent through informal channels.
The BSP said personal remittances also edged higher after seasonal adjustment, suggesting that underlying growth had continued. The central bank said the inflows supported household spending and domestic economic activity, while remaining an important source of household income and external financing.
