Cash remittances reach $22 B in Sept. 0 SHARES Share it! Cash remittances are funds transferred via the formal banking system which makes it easier for the BSP to monitor. Other major sources of cash remittances are Saudi Arabia, Singapore, United Arab Emirates, Japan, the United Kingdom, Canada, Hong Kong, Germany and Kuwait. “The combined remittances from these countries accounted for 78.3 percent of total cash remittances during the period,” said the BSP. In 2018, total cash remittances reached $28.943 billion, up 3.1 percent from what was reported in 2017 of $28.060 billion.

Source: Manila Bulletin November 15, 2019 13:52 UTC