MANILA, Philippines—The amount of dollars sent home by expatriate Filipinos rose in February, largely from an increase in remittances by land-based workers with long term contracts abroad, according to the Bangko Sentral ng Pilipinas (BSP) on Thursday (April 15).
The latest number exceeded by more than double the expectations of economists and market watchers, many of whom had expected the continuing pandemic to weigh down on the overseas job market which provides the country with foreign exchange that’s responsible for one-tenth of economic activity.
In a statement, the BSP said personal remittances from overseas Filipinos amounted to $2.761 billion in February 2021, higher by 5…
Keep on reading: Dollar volume from expat Filipinos posts surprise rise in February