Remittance growth slows in February

Overseas Filipino workers (OFWs) sent more money home in February although at a slower pace from the previous month, the central bank reported on Monday, April 16.
Remittances totalled $2.267 billion for the month, up 4.5% from the $2.169 billion inflows tallied in February 2017, the Bangko Sentral ng Pilipinas (BSP) said. However, the figure slipped from the $2.379 billion cash transfers received in January.
February’s growth pace is likewise the slowest in three months since a two percent increase recorded in November, data showed.