$2.745B sent home by OFWs in Januaryhome/Business/Top Business/$2.745B sent home by OFWs in JanuaryMONEY sent home by overseas Filipino workers (OFWs) fell to a two-month low in January, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. Remittances from sea-based and land-based workers with work contracts of less than one year, meanwhile, rose by 12.6 percent to $0.58 billion from $0.52 billion. “This growth was in line with the increase in remittances from both land-based ($1.95 billion) and sea-based ($0.53 billion) workers, which rose by 2.3 percent and 12.7 percent, respectively,” Diokno said. It was followed by Saudi Arabia, Singapore, the United Kingdom, the United Arab Emirates, Japan, Canada, Qatar, Hong Kong and Kuwait. “The combined remittances from these countries accounted for almost 78 percent of total cash remittances,” Diokno said.

Source: Manila Times March 15, 2019 16:18 UTC