June remittances rise 3.7% to six-month high

MONEY SENT home by Filipinos abroad grew faster in June to hit a six-month high, driven by remittances from land-based workers, the Bangko Sentral ng Pilipinas (BSP) said.

Cash remittances coursed through banks jumped by 3.7% year on year to $2.99 billion in June from $2.88 billion, the BSP said on Friday.

This was the highest value of monthly remittances seen in six months or since the $3.38 billion logged in December last year.