OFW remittances hit record $2.91 B in March

Date Posted: 05/17/2017

MANILA, Philippines – Remittances from overseas Filipinos reached their highest monthly level in March due to strong demand for skilled Filipino workers abroad, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

BSP Governor Amando Tetango Jr. said personal remittances booked a double-digit growth of 11.8 percent to a record high of $2.91 billion in March from $2.61 billion in the same month last year, eclipsing the previous record of $2.82 billion booked in December last year.

This brought the three-month total to $7.71 billion, up 8.1 percent from $7.13 billion in the same period last year.

Published Date: May 16, 2017
Source: Philstar