Expat Filipinos’ dollar remittances spiked to fastest pace in July–BSP

MANILA, Philippines--Dollars sent home to the Philippines by the country's estimated 10 million expatriates --- including an estimated five million Filipinos working with short- and long-term work contracts abroad --- rose at their fastest pace in July this year, reversing the previous month's decline. According to the Bangko Sentral ng Pilipinas, personal remittances from overseas Filipinos totalled $2.9 billion in July 2019, 7.2 percent higher than the $2.7 billion recorded in the same month last year. On a cumulative basis, personal remittances for the first seven months of the year increased by 3.6 percent to $19.1 billion from last years' level of $18.5 billion, BSP Govern...

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