OFWs’ February remittances rise 9.1% to $2.11B

Remittances from overseas Filipino workers (OFWs) witnessed a 9.1 percent year-on-year growth in February 2016, highest since August 2015.

The latest Bangko Sentral ng Pilipinas (BSP) data suggest that cash inflows in the second month this year reached $2.11 billion, higher than last month’s $2.02 billion and last year’s $1.94 billion, Northbound Asia reported.

To date, cash remittances grew by 6.2 percent to $4.13 billion against year-ago’s $3.9 billion.

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OFW remittances to increase by 8.5% in 2014 — Standard Chartered

Overseas remittance flows to the Philippines will likely expand at a faster pace of 8 to 8.5 percent in 2014 on improved global growth prospects and post-supertyphoon “Yolanda” (Haiyan) reconstruction, according to the British bank Standard Chartered.

In a research note dated January 13 written by analysts Jeff Ng and Robert Minikin, remittance flows in 2014 were said to grow by 2 to 2.5 percentage points over the 6 percent average growth in the first 10 months of 2013. This in turn has been seen to support a 6.7 percent

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