Money sent home by overseas Filipinos (OFs) continued to grow, increasing by 3.2 percent in August this year, according to the Bangko Sentral ng Pilipinas (BSP).

Data released by the BSP on October 15 showed that cash remittances during the month reached $2.98 billion, up from $2.89 billion in August last year.

Remittances from land-based overseas Filipinos accounted for $2.35 billion, while sea-based OFs contributed $626 million.

From January to August this year, cash remittances rose by 3.1 percent to $22.91 billion from last year's $22.22 billion.

The United States remained the top source of remittances to the Philippines during the period, followed by Singapore and Saudi Arabia.

The BSP said the increase in cash remittances also boosted personal remittances.

Personal remittances, which include cash sent through banks and informal channels as well as remittances in kind, went up by 3.2 percent from $3.20 billion in August 2024 to $3.31 billion in August 2025.

Year-to-date, personal remittances increased by 3.1 percent from $24.74 billion recorded in January to August 2024 to $25.51 billion in January to August 2025. 

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