OFW remittances up 2.5% in July

MANILA  -Personal remittances from overseas Filipino workers grew by 2.5 percent to $3.32 billion in July from $3.24 billion in the same month last year, according to the Bangko Sentral ng Pilipinas

Inbound money transfers from both land-based and sea-based OFWs, the BSP said

The result for July brought the total inflows for the first seven months of this year to $20.91 billion or 2.9 percent higher than the $20.33 billion for January-July 2022.

The United States had the highest share of Philippine-bound remittances in July, followed by Singapore, Saudi Arabia, and Japan.

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