Cash remittances — money transfers coursed through banks or formal channels — for the month stood at $2.644 billion, the lowest since $2.425 billion recorded in May 2022.
Remittances from overseas Filipinos slipped to a six-month low in November, data released by the Bangko Sentral ng Pilipinas on Monday revealed.
Year-to-date cash remittances grew to $29.380 billion from $28.430 billion in the comparable period of 2021. Behind them were Canada with 3.6%, Qatar with 2.8%, Taiwan with 2.7%, South Korea with 2.5%, and other countries with 20.3%.
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