BSP says January remittances up 3.5% y/y

March 16, 2023 - 9:37 AM
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Customers receive money from families working abroad at a money remittance center in Makati City, Metro Manila, Philippines, September 19, 2018. (Reuters/Eloisa Lopez/File Photo)

 Cash remittances sent home by overseas Filipinos rose 3.5% to $2.76 billion in January from a year earlier, the Philippine central bank said on Wednesday.

The expansion in cash remittances in January was due to the growth in receipts from land- and sea-based workers, it said in a statement.

—Reporting by Enrico Dela Cruz; Editing by Ed Davies