OFW Remittances Drop for First Time in 12 Years

Money sent home by Filipinos working or living abroad through banks declined for the first time in over 12 years in August, reports GMA News. Cash remittances amounted to $2.04 billion or 0.6 percent lower than the $2.06 billion recorded during the same month in 2014, according to figures released by the Bangko Sentral ng Pilipinas (BSP).