Filipinos continue sending money home in July despite economic headwinds

Remittances reach $3.24B; U.S. still top source.

Filipinos abroad continued to send more money home in July, keeping remittances on a steady growth path and giving Filipino households and the Philippine economy another source of support.

The Bangko Sentral ng Pilipinas (BSP) said cash remittances reached $3.24 billion in July, up 1.9% from $3.18 billion a year earlier. That brought total cash remittances for the first seven months of 2026 to $20.39 billion, 2.3% higher than the $19.93 billion recorded during the same period last year.

The United States remained the biggest source of remittances, followed by Singapore and Saudi Arabia.

When money sent through informal channels and remittances in kind are included, personal remittances reached $3.6 billion in July, up 1.98% year-on-year. The seven-month total stood at $22.73 billion, 2.3% above last year’s $22.21 billion.

For millions of Filipino families, these dollars can help cover food, tuition, bills, housing and other everyday expenses. The BSP said the inflows continued to support household consumption and domestic economic activity.

Reyes Tacandong & Co. senior adviser Jonathan Ravelas described remittances as a critical buffer for the economy, with the latest figures showing steady rather than spectacular growth. A weaker peso also gives the peso value of dollars sent home a lift, although Ravelas said this has not fundamentally changed the long-term trajectory of remittance inflows.

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