Manila: Money sent home by overseas Filipinos reached USD3.04 billion in June, the highest monthly level recorded in the first half of this year, the Bangko Sentral ng Pilipinas (BSP) said.

According to Philippines News Agency, preliminary data released by the BSP on Monday showed that the amount was 1.7 percent higher than the USD2.99 billion in cash remittances recorded last year. "From a business perspective, the steady rise in remittances is supportive because these flows go directly into household spending," Robert Dan Roces, group economist at SM Investments, said.

For January to June this year, cash remittances amounted to USD17.15 billion, up by 2.4 percent from USD16.75 billion in the same period in the previous year. The United States remained the top source of inflows, followed by Singapore and Saudi Arabia.

Personal remittances, which cover cash sent through banks and informal channels, as well as remittances in kind, also rose by 1.8 percent to USD3.39 billion from USD3.33 billion in June 2025. For the first half of the year, personal remittances went up by 2.4 percent to USD19.12 billion.

Roces said these inflows provide families of overseas Filipino workers with additional income for food, retail, housing and other essential spending. "This should help sustain domestic demand, although inflation will continue to weigh on purchasing power," he said.