Overseas Filipino cash remittances climbed to US$2.87 billion in March 2026, pushing first-quarter inflows higher as remittances continued to support household spending and the Philippine economy, according to the Bangko Sentral ng Pilipinas (BSP).
March Cash Remittances Up 2.3%
Data released by the BSP on Friday, May 15, showed cash remittances coursed through banks rose 2.3 percent in March from US$2.81 billion recorded in the same month last year. On a cumulative basis, cash remittances reached US$8.68 billion in the first three months of 2026, up 2.8 percent from US$8.44 billion in the comparable period in 2025.
Personal Remittances Also Rise
The BSP said personal remittances, which include transfers through banks, informal channels, and remittances in kind, totaled US$3.20 billion in March. Year-to-date personal remittances increased by 2.8 percent to US$9.66 billion from US$9.40 billion in January to March 2025.
Top Sources of Remittances
The United States remained the largest source of cash remittances to the Philippines during the first quarter, followed by Singapore and Saudi Arabia. Based on BSP data, the United States accounted for 39.9 percent of total cash remittance inflows in January to March 2026. Singapore contributed 7.4 percent, while Saudi Arabia accounted for 6.3 percent. The central bank noted that remittance centers abroad commonly route transactions through correspondent banks in the United States, causing the U.S. to appear as the top source country for remittances.
Seasonally Adjusted Figures
Seasonally adjusted personal remittances stood at US$3.32 billion in March, slightly higher than the US$3.23 billion posted in February, while seasonally adjusted cash remittances reached US$2.97 billion.
