Remittances from overseas Filipinos (OFs) coursed through banks for 2011 expanded by 7.2 percent to US$ 20.1 billion relative to the year-ago level.
The growth in cumulative remittances through December slightly surpassed the BSP projection of a 7 percent expansion in 2011, Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Juan D. De Zuniga Jr. announced on Wednesday.
For the period January-December 2011, the major sources of remittances were the U.S., Canada, Saudi Arabia, U.K., Japan, United Arab Emirates, Singapore, Italy, Germany and Norway. Full story
