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OFW remittances rise from a year earlier, but decline from July
Cash remittances sent through banks reached $3.035 billion in August, up 1.9% from August last year, according to preliminary BSP figures reported by BusinessWorld. However, the amount was 6.3% below July’s total.
For January through August, bank-coursed remittances reached $23.424 billion, an increase of 2.2% from the same period in 2025. The annual increase and the monthly decline describe different comparisons; neither cancels out the other. [BusinessWorld report carried by Metrobank](https://wealthinsights.metrobank.com.ph/news/philippine-cash-remittances-drop-to-3-month-low-in-august)
These national totals do not mean every OFW family received more money. A household’s position depends on how much was sent, the exchange rate used, fees deducted and the bills waiting at home.
Today’s weaker peso may help some dollar recipients at conversion, but it does not establish that their overall purchasing power improved.
WHAT TO WATCH
The September remittance figures, which will show whether August’s decline from July continued. Families can also compare the pesos actually received after fees, rather than rely on the advertised exchange rate alone.