Remittances sustain growth in November, but expect Omicron impact

Published by
Philippine Star

Ramon Royandoyan – Philstar.com January 14, 2022 | 1:49pm MANILA, Philippines — Money sent home by overseas Filipinos continued to grow a month before the holiday season, but growth is expected to weaken amid a worldwide Omicron variant onslaught. What’s newCash remittances coursed through banks in November last year inched up 5.1% year-on-year to $2.5 billion, the Bangko Sentral ng Pilipinas reported on Friday. The growth was markedly faster than the 2.4% recorded in the previous month. In the first 11 months of the year, cash remittances grew 5.2% year-on-year to $28.43 billion, faster compa…

Read More

Written by