March Remittances Up 11.8%

Remittances hit $2.91 billion in March, 11.8% higher than the level posted in the same month in 2016. Total remittances for the 1st quarter of 2017 now stand at $7.71 billion, up by 8.1% compared to the same period last year. The Bangko Sentral ng Pilipinas has also noted that US President Donald Trump’s policies would have minimal impact on remittance levels. While the US still accounts for 33.2% of the total, the cut in remittance…

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