March Remittance Growth Slowest in Nearly Three Years - BusinessWorld Online

PH remittance growth slows to near 3-yr low

MANILA, Philippines – Cash remittances grew at their slowest pace in nearly three years in March, as higher consumer prices amid a global oil shock tied to the Middle East conflict constrained the ability of Filipinos overseas to send money to their families back home. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed […]...Keep on reading: PH remittance growth slows to near 3-yr low

March remittance growth slowest in nearly three years - BusinessWorld Online

MONEY sent home by Filipinos abroad rose by year on year 2.3% in March, the slowest growth seen in nearly three years, according to preliminary Bangko Sentral ng Pilipinas (BSP) data. Cash remittances, or money coursed through banks by overseas Filipino workers (OFWs), grew by 2.3% to $2.874 billion in March from $2.81 billion a year ago, the central bank reported on Friday. This was the smallest increase in two years and nine months or since th…

Overseas remittances rebound even as Mideast tension escalates

Money sent home by overseas Filipinos (OFs) climbed to $2.87 billion in March, rebounding from the nine-month low of $2.79 billion recorded in February, closing the first quarter with larger inflows.The latest data from the Bangko Sentral ng Pilipinas (BSP) released on Friday, May 15, showed that remittances in March increased 2.3 percent compared to the $2.81 billion recorded in March last year.During the month, land-based workers contributed $…

Remittance Growth Slows to Nearly Three-Year Low in Risk for Philippine Economy

(Bloomberg) — Money sent home by Filipinos working overseas grew at the slowest pace in nearly three years in March, reflecting the impact of the global energy crisis sparked by the Iran war and signaling more weakness in the Philippine economy.