By Katherine K. Chan, Reporter

Cash remittances from Filipinos abroad grew at their slowest pace in more than four years in June, even as the monthly amount reached a six-month high, according to data from Bangko Sentral ng Pilipinas (BSP).

Overseas Filipino workers (OFWs) sent home $3.039 billion in cash remittances in June, up 1.7% from $2.987 billion a year earlier.

That was the highest monthly remittance inflow since December last year, when it reached $3.522 billion. But the 1.7% increase was the weakest annual growth in four years and four months, or since the 1.3% recorded in February 2022.

“Cash remittances reached $3.04 billion in June 2026, the highest monthly cash remittance level recorded in the first half of 2026,” the central bank said in a statement on Monday.

The June result brought first-half cash remittances to $17.149 billion, up 2.4% from $16.753 billion a year earlier.

Personal remittances amounted to $3.388 billion in June, rising 1.8% from $3.329 billion in the same month last year.

“Seasonally adjusted personal remittances, which include cash sent through banks and informal channels as well as remittances in kind, likewise increased in June 2026,” the BSP said.

For the January-to-June period, personal remittances increased 2.4% to $19.123 billion from $18.672 billion a year earlier.

The June figures matter because remittances are a steady source of foreign currency inflows for the Philippines, and the first-half tally shows that the flow remained positive even as annual growth slowed. The BSP tracks both cash remittances and personal remittances, with the latter capturing a broader measure of transfers beyond bank channels.

“The United States remained the top source of inflows, followed by Singapore and Saudi Arabia, based on reported remittance transactions by origin,” the central bank said.

The BSP expects cash remittances to rise 2.7% annually to $36.6 billion this year, slower than the 3.3% increase to $35.6 billion in 2025.