OFW remittances hit $2.1 billion in September

AFP FILE PHOTO

MANILA, Philippines — Filipino migrant workers sent a near-record amount of money to their families at home in September, beating official estimates as more jobs opened up abroad for Filipinos.

Data from the Bangko Sentral ng Pilipinas showed overseas Filipino workers’ remittances rose 7.9 percent to $2.107 billion in September. This was the second-highest level for a single month on record. The month that saw the highest amount of remittances was December of last year, when inflows reached $2.173 billion.

For the January to September period of 2014, remittances were up 6.1 percent over the same nine months last year.

“Remittances remained resilient on the back of sustained demand for skilled Filipino manpower overseas,” the BSP said in a statement Monday.

RELATED STORIES

August remittances surge amid OFW demand

OFW remittances to increase by 8.5% in 2014—Standard Chartered

OFW remittances rose 5.4% to $2B—BSP