Remittances surged to $1.48B in May

MANILA, Philippines – Remittances from overseas Filipino workers surged to a new record monthly high of $1.48 billion in May, the Bangko Sentral ng Pilipinas reported yesterday.

Remittances in May were up 3.7 percent from a year ago and brought total inflows in the first five months to $6.98 billion, up 2.8 percent from the same period last year.

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