Remittances from overseas Filipinos fell to a three-month low in August, data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed.
Cash remittances or money transfers coursed through banks stood at $2.721 billion, the lowest since $2.425 billion worth of remittances came in in May.
Year-to-date cash remittances climbed by 3.0% to $20.985 billion from $20.380 billion in the first eight months of 2021, due mainly to higher receipts from land-based and sea-based workers. These were followed by the United Kingdom with 4.9%, the United Arab Emirates with 4.1%, Canada with 3.5%, Qatar with 2.8%, Taiwan with 2.7%, and South Korea with 2.6%.
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