The Central Bank of the Philippines reports a rise in cash remittances from overseas Filipino workers to $3.24 billion in July 2023, highlighting sustained inflows from the diaspora.
The Central Bank of the Philippines has announced that cash remittances sent by overseas Filipino workers reached $3.24 billion in July 2023. This figure marks an increase compared to previous months, reflecting continued strong contributions from the Filipino diaspora worldwide. These remittance inflows are significant for the Philippine economy, supporting household consumption and contributing to economic stability. The Central Bank continues to monitor remittance trends as an important indicator of overseas workers’ financial engagement and the broader economic impact of labor migration.
Sources referenced:
- https://news.google.com/rss/articles/CBMivwFBVV95cUxNWnpfZkhmWm5mc3B6MERJTEYyZ1dEdVUydHFaQ3I5bDJBaHpBOTBzQk0wenM0ZjdnVWs2YXdMLWVSR1JtUWRnSzFabjBYMi1teEczMW9lSlRGOHZKdnFhczQwWHg2ZnA3cnVYcV9wQ2Z2aXdDM01NczBjT2FWbDRMM25MQnU4RmQ0SWxXMU1kaFlGRUhCc0FhYUJweE5BVExIMGlQaGxkcGR3elo5WkVTRS1iNVNIdE5IVHNrNDRIRQ