OFW remittances up 2.4% in February

MANILA  -Cash remittances that overseas Filipinos workers abroad sent to the Philippines through banks increased by 2.4 percent to reach $2.57 billion in February from $2.51 billion in the same month last year.

The Bangko Sentral ng Pilipinas observed increases in both inbound money transfers from land-based and sea-based OFWs.

Funds were sent mainly from the United States, Saudi Arabia, Japan, Singapore and Qatar.

February data brought the total for the first two months of the year to $5.33 billion, an increase of 3 percent from $5.18 billion in January-February 2022.

READ MORE:

https://business.inquirer.net/391229/remittances-grew-3-5-to-3-07b-in-january

https://business.inquirer.net/375361/ople-sees-sharp-increase-in-ofw-remittances-in-early-2023