BSP reports higher dollar remittance from overseas Filipinos in July

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MANILA, Philippines—Dollars sent home by expatriate Filipinos rose marginally in July, thanks partly to money from workers with short term contracts for sea- and land-based jobs, according to the latest data from the central bank.

More importantly, the Bangko Sentral ng Pilipinas (BSP) said that this performance added to the level of overseas worker remittances in the first seven months of 2021, despite the economic challenges around the world brought by the COVID-19 pandemic.

In a statement, the BSP said that personal remittances from Filipinos abroad increased by 2.6 percent to $3.167 billion in July 2021 from $3.085 billion in the same month in 2020.

This resulted in an increase in cumulative remittances by 6 percent from January to July 2021 or $19.783 billion from $18.658 billion in the same period in 2020.

“The growth in personal remittances in July was due to remittances…

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