The amount of money sent home by overseas Filipino workers (OFWs) in February improved 5.3% on a year-on-year basis, according to the Bangko Sentral ng Pilipinas (BSP).
In a report, the BSP said that the personal remittances of OFWs increased to $2.761 billion from $2.623 billion in February 2020.
The personal remittances of land-based OFWs with at least one year of contract grew by 7.8% or to $2.152 billion from $1.997 billion in the same period.
However, the remittances of land-based and sea-based workers with less than a year of contract declined by 4.6% to $540 million.
Meanwhile, the money sent by Filipinos from the United States, Malaysia, and Singapore increased. – Report from Naomi Tiburcio/AG-jlo
