OFW remittances to Philippines see surge

The Philippines Central Bank, Bangko Sentral ng Pilipinas, said that there has been a 9.7 per cent jump in the money sent home by overseas Filipino workers  in January 2018, compared to figures from a year ago.

The report said, cash remittances from Filipino migrant workers stood at $2.4 billion during the first month of the year, up from $2.169 billion posted in the same period in 2017 .

Eighty percent of total cash remittances for the month came from the US, UAE , Saudi Arabia, Singapore, United Kingdom, Japan, Qatar, Canada, Kuwait and Germany.

The  US, Canada, Singapore and UAE are the major source of remittances, the report said.

There are 45,064 Filipino workers in Oman, which include  45,064 females against  12,820 male employees.

Currently, One Omani riyal fetches 134.95 pesos.

 

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