Seasonal increase of remittances from overseas Filipino workers in the last quarter of the year is expected to support the local currency, a National Economic and Development Authority executive said.
Daway-Ducanes attributed the local unit’s slide to the policy rate normalization, particularly in the United States .“Inaasahan namin na sa pagpasok ng mga remittances ngayong mga huling buwan ng taon ay makakatulong ito sa pag-stabilize ng halaga ng piso kontra dolyar ,” she added. Meanwhile, remittance inflows are historically high in the last quarter of the year due to the holiday season and this is expected to give the local currency a breather in the last months of the year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BOC to OFWs: Coordinate with legitimate consolidators to avoid scamThe Bureau of Customs (BOC) on Friday advised overseas Filipino workers (OFWs) to coordinate with legitimate consolidators in order to avoid falling for fraudulent schemes on processing balikbayan boxes ahead of the Christmas season.
Source: gmanews - 🏆 11. / 68 Read more »
Abuse in women’s pro soccer league was systemic, report says - BusinessMirrorAN independent investigation into the scandals that erupted in the National Women's Soccer League (NWSL) last season found emotional abuse and sexual misconduct were systemic in the sport, impacting multiple teams, coaches and players, according to a report released Monday. “Abuse in the NWSL is rooted in a deeper culture in women’s soccer, beginning in
Source: BusinessMirror - 🏆 19. / 59 Read more »
Elderly vendor gets paid fake P1,000 bill, gives P900 in real changeA 68-year-old sidewalk vendor lost two days worth of earnings after he got paid a fake thousand-peso bill and gave change worth P900 in real money. napakahayop e Grabe naman to 😳😭 Poor Tatay 😔. Sana maging karma yun kung sinu nagbigay fake money? 😠😤
Source: gmanews - 🏆 11. / 68 Read more »
PAL flights from Cebu eyed for reopening of Baguio Airport - BusinessWorld OnlineTHE Civil Aviation Authority of the Philippines (CAAP) on Wednesday said the Baguio (Loakan) Airport may resume commercial operations by the end of the year. READ:
Source: bworldph - 🏆 9. / 68 Read more »
High online remittance helps grow PERA funds - BusinessMirrorTHE total fund of the Personal Equity and Retirement Account (PERA) doubled year-on-year to P289.82 million as more Filipinos contributed to the fund via online platforms, the Bangko Sentral ng Pilipinas (BSP) said. A statement by the BSP said that as of September 8, the PERA fund was P149.06-million higher than the P140.76 million recorded
Source: BusinessMirror - 🏆 19. / 59 Read more »