Cash remittances by OFWs scale up to $2.91 B

With the weakest peso ever at P59.44 to the dollar, cash remittances from overseas Filipino workers are enjoying the best of times.

Remittances from OFWs ramped up to  $2.91 billion in November 2025, reinforcing the steady role of migrant workers in supporting household spending and overall economic activity in the Philippines. This may be attributed to the need for more family spending during the Christmas holidays.

The latest figure pushed cumulative cash remittances for the January to November period to $32.11 billion, up 3.2 percent from $31.11 billion recorded in the same period last year.

Money sent home by Filipinos abroad through banks grew by 3.6 percent year-on-year to $2.91 billion, data from the Bangko Sentral ng Pilipinas showed.

This sent the 11-month inflows to $32.11 billion, up by 3.2 percent.

The sustained growth highlights the resilience of remittance flows despite global economic uncertainties, elevated interest rates in major economies, and geopolitical tensions that continue to affect labor markets worldwide. 

For the Philippines, remittances remain a crucial source of foreign exchange, helping stabilize the peso and fuel domestic consumption, particularly during the year-end season.

The United States remained the largest source of remittances during the first eleven months of 2025, reflecting the size and earning capacity of the Filipino community there. It was followed by Singapore and Saudi Arabia, both of which continue to host large numbers of Filipino professionals, service workers, and skilled laborers.

Broader personal remittances, which include cash sent through banks and informal channels as well as remittances in kind, reached $3.23 billion in November. On a year-to-date basis, personal remittances grew by the same 3.2 percent pace, rising to $35.73 billion from $34.61 billion in January to November 2024.

Economists note that the consistent expansion of both cash and personal remittances provides a cushion for the Philippine economy, supporting retail trade, housing, education, and healthcare spending. 

As global labor demand remains relatively firm for Filipino workers, particularly in healthcare, maritime, and service sectors, remittance inflows are expected to remain a key pillar of economic stability heading into the final month of the year and early 2026.