OFW remittances up 4.4% in June | Inquirer Business

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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TAGS: BSP, OFW, Remittances

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