Daily News

Remittance growth fastest in 9 months

Money sent home by Overseas Filipino Workers (OFWs) recovered in July, recording the fastest growth in nine months, the Bangko Sentral ng Pilipinas (BSP) or central bank reported. From January to July, BSP Governor Benjamin Diokno said personal remittances, composed of cash and non-cash items that flow through both formal or via electronic wire and informal channels such as money or goods carried across borders, rose by 3.6% to $19.12 billion from $18.46 billion in the same period last year.