Remittances Increased by 10.8% in January

Strong growth was steadily recorded for remittances in January. Personal remittances from land-based workers recorded $2.65 billion, while cash remittances booked $1.9 billion. The sum of money remitted by sea-based workers hiked to $500 million.

Remittances Wouldn’t Be Affected by the Ban Deployment to Kuwait

Despite the ban deployment to Kuwait, BSP declared a rise in remittances. It will still be the greatest source of Philippine foreign exchange.

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