• CASH REMITTANCES from overseas Filipino workers (OFWs) rose by 2.7% year on year in January, the Bangko Sentral ng Pilipinas (BSP) said.
  • Data from the BSP showed cash remittances coursed through banks increased by 2.7% to $2.836 billion in January from $2.762 billion in the same month last year.
  • However, the amount of money sent home by migrant Filipinos was the lowest in two months or since $2.719 billion in November.
  • Month on month, the growth in cash remittances slowed to 2.7% from 3.8% in December. It was also the slowest pace of remittance growth since 2.6% posted in September.