Money sent home by overseas Filipino workers (OFWs) fell by 1.7 percent in January, the biggest decline seen since the 2.6-percent contraction recorded in August 2020, data from the Bangko Sentral ng Pilipinas (BSP) showed.
BSP data released on Monday showed that personal remittances — personal transfers in cash or kind and capital transfers between households — from abroad reached $2.89 billion in January, down from the $2.94 billion in the same month last year.
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