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Cash remittances up 2.6 percent in September

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ABS-CBN News

<p>MANILA -- Cash remittances from overseas Filipinos reached $2.91 billion in September 2023, 2.6 percent higher than the $2.84 billion posted in the same month in 2022.</p><p>The increase in cash remittances was due to growth in receipts from land- and sea-based workers, the Bangko Sentral ng Pilipinas (BSP) said in a statement.</p><p>For the first 9 months of the year, cash remittances reached $24.49 billion, up 2.8 percent, BSP data showed.</p><p>Growth in cash remittances from the US, Saudi Arabia and Singapore, contributed to the increase in the first three quarters, the central bank said. </p><p>In terms of country sources, the US posted the highest share of overall remittances, followed by Singapore and Saudi Arabia. </p><p>Personal remittances, meanwhile, reached $3.23 billion in September 2023, up 2.6 percent from the $3.15 billion registered in the same month last year. </p><p>In the first nine months of 2023, personal remittances grew by 2.8 percent to $27.24 billion, up from $26.49 billion in the same period last year.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/16/23/cash-remittances-up-27-percent-in-august">Cash remittances up 2.7 percent in August</a></li>	<li><a href="https://news.abs-cbn.com/business/08/15/23/peso-depreciation-smaller-compared-to-neighbors-bsp-gov">Peso depreciation &#x27;smaller&#x27; compared to neighbors: BSP Gov</a></li></ul><div><strong>RELATED STORIES:</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/izDnNGvdrAM?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>