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  • February OFW Remittances Up 5.8% at $1.59B

    Remittances grew at a slightly faster pace in February as global demand for Filipino workers remained robust, the Bangko Sentral ng Pilipinas reported Monday. Money sent home by Filipinos based offshore amounted to $1.59 billion in February,...

  • Get to Know: New Philippine Peso Bills

    Why is the BSP changing the designs of our money? As a matter of practice, central banks regularly change the designs of their money – whether coins or banknotes – to guard against counterfeiters. By making it...

  • Encourage Kids to Save Money

    Habits, good or bad, truly start young. In an effort to teach children the importance of money management, the Bangko Sentral ng Pilipinas (BSP) and partner institutions have embarked on projects that seek to enable children to...

  • Fewer OFW Families Saving Amid Low Remittance Rates

    BECAUSE of the strong peso, fewer families who are receiving remittances from overseas are allocating a portion into savings. The Bangko Sentral ng Pilipinas (BSP) reported that the percentage of overseas Filipino households who were into savings...

  • Smart Offers Hub for Seafarers

    Wireless leader Smart Communications, Inc. (Smart) recently inaugurated a one-stop hub designed to provide its slew of services for Filipino seafarers, within the premises of the Maritime Industry Authority (MARINA) along Taft Avenue in Manila. MARINA, the...

  • OFW Remittances Reach $11.4B From Jan-July

    The Bangko Sentral ng Pilipinas (BSP) reported over the weekend that remittances sent to the Philippines by overseas Filipinos totalled $11.4 billion in the first seven months this year. The BSP said that money sent home by...

  • OFW Families Urged Not to Hoard Dollars

    Bankers are urging beneficiaries of remittances from overseas Filipino workers (OFWs) not to accumulate US dollars as economic growth in the economic superpower is expected to crawl in the long term. Bankers Association of the Philippines president...

  • OFW Remittances Up 7% in May, Fastest Since January

    Remittances by overseas Filipino workers (OFWs) grew 6.9 percent in May, its fastest monthly increase since January amid political tensions in the Middle East and North Africa (MENA), the disaster in Japan, and the decision of Saudi...

  • Remittances from Skilled OFWs Drop Sharply in 2010

    Remittance flows from “professionals” and “technicians and associate professionals” plummeted sharply in calm 2010 after rising markedly in crisis-laden 2009, a government survey showed. Data from the annual Survey on Overseas Filipinos (SOF) of the National Statistics...

  • Bangko Sentral: BDO is Top Remittance Bank in 2010

    BDO Unibank, Inc. (BDO) was awarded the Top Commercial Bank in Generating Remittances from Overseas Filipino for 2010 by the Bangko Sentral ng Pilipinas (BSP). The citation has earned the Bank a spot in the Hall of...

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