Remittances usually pick up during the “ber” months as Filipinos abroad send more money to their loved ones ahead of the holiday season. Likewise, cash remittances rose by 6.3 percent to $2.38 billion in September from $2.24 billion in the same month last year. As a result, cash remittances increased by 4.2percent to $22.19 billion in the first nine months of the year from $21.29 billion in the same period last year. The combined remittances from these countries, the BSP said, accounted for 78.3 percent of total cash remittances from January to September. The BSP has retained the growth target for both personal and cash remittances at three percent for this year.

Source: Philippine Star November 15, 2019 16:00 UTC