OFW remittances up 4.4% in June
Cash remittances that overseas Filipinos workers abroad sent to the Philippines through banks increased by 4.4 percent to reach $2.8 billion last June from $2.6 billion in the same month of 2021.
The Bangko Sentral ng Pilipinas observed increases in both inbound money transfers from land-based and sea-based OFWs.
A significant portion of receipts was sent from the United States, Saudi Arabia, Japan, Qatar, and Singapore.
June data brought the total for the first semester to $15.3 billion, an increase of 2.9 percent from $14.9 billion in January-June 2021.
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