OFW Remittances Reach $17B as of June 2023
Remittances from Overseas Filipinos gained a total of $17.59 billion for the first six months of 2023, the BSP reported.
Remittances from Filipinos Abroad Lowest Since June, BSP Data Shows
Personal and cash remittances from Filipinos working and living abroad have declined to its lowest level since June 2022, the BSP reported.
BSP Data: Personal Remittances Up by 4.4 Percent in August 2022
BSP data revealed that personal remittances from OFWs increased by about ₱8 billion in the same last year.
OFW Remittance Growth Slows in February
Personal remittances stood at $2.793 billion, a 1.2% higher from $2.759 billion last year, but still lower than January’s $2.966 billion.
Overseas Filipinos Send More Money Back Home, Higher than Pre-Pandemic
The news did not receive a warm reception after it was posted by BSP Governor Benjamin Diokno. According to Susan Ople, an advocate of OFW rights and the current head of the Blas Ople Policy Center (BOPC), the struggling OFW has become the “ayuda” source of their household back home.
Defying Bearish Projections, Cash Remittances Only Slid by 0.3 Percent
The World Bank previously estimated that that there would be a 13% decline in local remittances because of the pandemic.
OFW Remittances in January to February Climb to US$5.6 Billion
The Bangko Sentral ng Pilipinas (BSP) reported increased OFW remittances in February 2020 at US$2.62 billion, which is 2.6% higher than what was previously recorded in February 2019.
BSP: Remittances to the Philippines Will Drop This 2020
Cash remittances will decline particularly those coming from sea-based OFWs. Many of them have been repatriated already.
Personal Remittances Reach $2.9 Billion in January 2020
The Bangko Sentral ng Pilipinas (BSP) reveals that personal remittances from overseas Filipinos (OFs) grew by 7.3% year-on-year in January 2020.
BSP: Personal Remittance Record $33 Billion in 2019, A Record High
The Bangko Sentral ng Pilipinas (BSP) announces that personal remittances from Overseas Filipinos have reached a record high of US$33 billion in 2019.