Overseas workers’ remittances recorded at USD 1.783bn in November.

By bne IntelliNews January 17, 2012
Philippines overseas workers remittances was recorded at USD 1.783bn during November last year, which was the highest ever for a single month, providing a strong pillar for the domestic economy. As reported by Dow Jones International News, the central bank stated that the remittances by overseas Filipino workers were 10.6% higher during the period than the USD 1.61bn recorded in November 2010. The remittances increased 7.3% y/y and reached USD 18.32bn in the first eleven months of last year, as compared to USD 17.07bn registered during the same period in 2010, putting the country on track to meet the central bank's target of 7% growth from USD 18.76bn in 2010.

Overseas workers’ remittances recorded at USD 1.783bn in November.

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