Manila, Feb. 17 -- Personal remittances from overseas Filipinos hit a record-high of USD3.73 billion in December last year, bringing the full-year 2024 data to an all-time high of over USD38 billion, the Bangko Sentral ng Pilipinas (BSP) said.

Data released on Monday showed that personal remittances reached USD38.34 billion last year, higher by 3 percent from the USD37.21 billion in 2023.

The BSP said the personal remittances last year is the highest recorded to date and account for about 8.3 percent and 7.4 percent of the country's gross domestic product and gross national income, respectively.

Personal remittances cover cash sent through banks and informal channels, as well as remittances in kind.

The BSP said that of the total pers...