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.
ADVERTISEMENT
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:
READ NEXT
EDITORS' PICK