FX.co ★ Philippine Remittances Hit 3-Month High

In October 2025, cash remittances through Philippine banks saw a 3% increase from the previous year, amounting to USD 3.17 billion compared to USD 3.08 billion in October 2024. This represents the highest inflow since July, when remittances hit USD 3.18 billion, though the growth rate slowed from September's 3.7% increase. For the period from January to October, cash remittances grew by 3.2% to reach USD 29.2 billion, predominantly driven by greater inflows from the United States, Singapore, and Saudi Arabia. The United States remained the leading source, contributing 40.3% of the overall remittances, followed by Singapore at 7.2%, Saudi Arabia at 6.4%, and Japan at 4.9%. Personal remittances, encompassing bank transfers, informal channels, and in-kind contributions, increased by 3% to USD 3.52 billion from USD 3.42 billion the previous year. For the first ten months of the year, cumulative personal remittances totaled USD 32.49 billion, reflecting a 3.2% rise from USD 28.97 billion in the same timeframe in 2024.