OFW remittances grew by 8% to $1.74B in September — BSP

OFW remittances grew by 8% to $1.74B in September — BSP

MANILA, Philippines — Remittances from overseas-based Filipinos grew anew in September as demand for Filipino workers by employers in various parts of the globe remained strong.

The Bangko Sentral ng Pilipinas reported on Tuesday that remittances amounted to $1.74 billion in September, up by 8.4 percent from $1.6 billion in the same month in 2010.

This brought the total remittances in the first nine months of the year to $14.76 billion, up by 7.1 percent from $13.78 billion in the same period a year ago.