Daily News


Remittance growth slows in Nov

Money sent home by overseas Filipino workers (OFWs) recorded its slowest pace of growth in nearly five months in November due to lingering global uncertainties. Cash remittances grew 2% to $2.372 billion in November from $2.326 billion in the same month in 2018, data released by the Bangko Sentral ng Pilipinas (BSP) or central bank. Meanwhile, personal remittances also picked up by 2% year-on-year to $2.639 billion in November from $2.586 billion in the same month in 2018. Meanwhile, some other economists expect continued improvement in remittances this year on the back of brighter economic prospects.