OFW remittances up 3% in March

MANILA  -Personal remittances from overseas Filipino workers increased by 3 percent to $2.97 billion in March from $2.89 billion in the same month of 2022.

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

March data brought the total for the first quarter of this year to $8.91 billion, an increase of 3 percent from $8.65 billion in January-March 2022.

Contributions to first-quarter growth came mainly from the United States, Singapore, Saudi Arabia, and the United Arab Emirates.

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