Personal remittances down by 5.2 percent in March – BSP
The central bank attributed the March decline in cash remittances to the decreased number of Filipinos deployed overseas during the first quarter of 2020.
OFW remittances to decline by at least 10 percent this year – BSP
Remittances from overseas Filipinos are expected to decline by at least 10 percent to $27 billion this year because of the Covid-19 pandemic, Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said on Wednesday.
World Bank: Global remittances to decline by 20% due to pandemic
The economic shutdown caused by the Covid-19 pandemic would likely result in the sharp decline of global remittances this year by about 20 percent, the World Bank said.
Top PH remittance sources showing signs of weakness
The US remained the top source of remittances for the eight-month period, contributing $7.33 billion, up 11.7 percent year-on-year. It accounted for 37 percent of total inflows.
Remittances up nearly 6% in May to $2.6B
Cash remittances coursed through banks rose to $2.61 billion, the highest monthly inflow since the holiday season propped up remittances to $2.85 billion in December 2018.