OFW remittances hit $2.93B in Nov

(UPDATE) PERSONAL remittances from overseas Filipino workers (OFWs) totaled $2.93 billion in November, the Bangko Sentral ng Pilipinas (BSP) reported on Monday, improving from $2.77 billion a year earlier but lower compared to the previous month's $3.28 billion.

"The increase in personal remittances in November 2022 was due to higher remittances sent by land-based workers with work contracts of one year or more, and sea- and land-based workers with work contracts of less than one year," the BSP said in a statement.