OFW remittances fall to 11-month low

By Mayvelin U. Caraballo

Jun 16, 2022 12:25 am

THE amount of money sent home by overseas Filipino workers (OFWs) fell to its lowest level in 11 months in April, according to data released on Wednesday by the Bangko Sentral ng Pilipinas (BSP).

Personal remittances, or cash or kind transfers between families, totaled $2.67 billion in the fourth month of 2022, down 7.51 percent from $2.88 billion in March of this year, but up 3.76 percent from $2.57 billion in April 2021. It's the smallest amount sent since $2.65 billion was sent in May last year.

OFW remittances

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Economic team sees growth despite politics

Budget balance swings to P6.3B surplus in Oct

US Fed cites reasons to go slow on rate cuts

BSP policy easing boosts local bond market

Farmers seek carabeef ban from India

Seized frozen products to relief ops

Buying local this holiday season