April Remittances Down to $2.08 Billion

Remittances fell to a 15-month low of $2.08 billion in April partly due to a stronger US dollar and a decline in remittances from land-based workers. This is lower by 5.9% when compared to the same month last year. This is also the lowest since January 2016’s $1.997 billion. For the year, remittances are up by 4.2 percent to $9.04 billion, the first time it has breached the $9-billion mark during the first four months. The Bangko Sentral ng…

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