OFW remittances increased to 7.4% just in August


Bangko Sentral ng Pilipnas (BSP) reported that personal remittances of OFWs grew up 7.4% from a year ago.

“The steady deployment of overseas Filipino workers remained one of the key drivers of the growth in remittance flows,” according to Diwa Guinigundo, officer-in-charge of the BSP.

For the month of August, a total of $2.1 billion remittances sent by workers abroad and a total of $16 billion counting from January to August coming from United States, Saudi Arabia, Britain, the United Arab Emirates, Singapore, Canada, and Japan.