Philippine (BSP): Filipinos living abroad, August remittance: 4.6% increase YOY
Manila
October 28, 2019
Central Bank of the Philippines: (BSP)
On October 15th, the amount of Filipinos living abroad in August 2019 was 4.6% higher than the same month last year ($ 2,589,000,000).
After May ($ 2,690,000,000), the amount was high in 2019.
Remittance: Reason for increase
One possible reason is that the exchange rate moved to the low 52 pesos level in August, causing the dollar to depreciate.
January-August remittance by country / region
US was $ 7,326.33 million (up 11.7% year-on-year)
Saudi Arabia was $ 1,462.8 million (down 4.9% year on year)
Singapore was $ 1,258.62 million (up 2.2% year-on-year)
United Arab Emirates (UAE) is $ 1,130.74 million (down 15.7% year-on-year)
The UK is $ 1,056.49 million (up 8.4% year-on-year)
Japan was $ 1,043.33 million (up 2.8% year-on-year).
-JETRO
https://www.jetro.go.jp/biznews/2019/10/ee42d422bf29f689.html