OFW remittances ease at 3-month low

MONEY sent home by overseas Filipino workers (OFWs) plunged to the lowest level in three months last February, but supported the year-to-date tally.

Bangko Sentral ng Pilipinas (BSP) data released on Thursday showed that personal remittances — personal transfers in cash or kind and capital transfers between households — amounted to $2.76 billion in the second month of 2021, a 4.62-percent decline from $2.89 billion in January, but a 5.3-percent expansion from $2.62 billion a year earlier.