Cash remittances jump 4% in April

MONEY SENT HOME by overseas Filipino workers (OFWs) jumped by an annual 4% in April, the fastest pace in 28 months, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Cash remittances from migrant Filipinos coursed through banks rose by 4% to $2.66 billion in April from $2.56 billion in the same month a year ago.

The 4% annual growth in April was the fastest since the 5.8% seen in December 2022.