Remittances rise 4% to $3 B in April

Money sent home by overseas Filipino workers rose to nearly $3 billion in April, boosted by steady inflows from both land- and sea-based OFWs, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

- By KEISHA TA-ASAN

Data showed that personal remittances reached $2.98 billion in April, 4.1 percent higher than the $2.86 billion in the same month last year.

It marked the fastest growth in over two years or since the 4.4-percent rise in August 2022.

This brought the cumulative total for the first four months to $12.37 billion, reflecting a three-percent growth from $12.01 billion in the same period last year.