BusinessWorld E-paper
October 17, 2023
MONEY SENT HOME by overseas Filipino workers (OFWs) increased by 2.7% year on year in August, the fastest pace since May, data from the Bangko Sentral ng Pilipinas (BSP) showed.
Cash remittances coursed through banks rose by 2.7% to $2.79 billion in August from $2.72 billion in the same month in 2022. This was the fastest rate in three months since the 2.8% seen in May, but slower than 4.3% in August 2022.
