Money transfers from Filipinos abroad saw an increase and grew to a two-month high in September due to growth in remittances from both sea-based and land-based overseas workers, data from the Bangko Sentral ng Pilipinas (BSP) on Tuesday showed.
Cash remittances or money transfers which coursed through banks or formal channels amounted to $2.84 billion, up 3.8% from $2.74 billion in September 2021.
This is the highest since July when cash remittances stood at $2.917 billion.
Month-on-month,…