THE Bangko Sentral ng Pilipinas said that cash remittances that came from overseas Filipinos has topped $2.91 billion for September 2023.

The said number is 2.6 percent higher compared to the $2.84 billion when compared to the same month in 2022.

According to the BSP, the increase in the cash remittances is due to growth in receipts from land- and sea-based workers.

They also said that for the first 9 months of the year, the cash remittances has increased to $24.49 billion, going up to 2.8 percent.

The BSP also said that the growth in cash remittances came from the US, Saudi Arabia and Singapore.

They contributed to the increase in the first three quarters.

Likewise, in terms of country sources, the US posted the highest share of overall remittances, followed by Singapore and Saudi Arabia.

On the other hand the personal remittances, reached $3.23 billion in September 2023, up 2.6 percent from the $3.15 billion registered in the same month last year.