Dollar Remittance Tops 7.9 Billion USD January to May 2011

Photo by ronrag at Flickr.com

Remittances from overseas Filipinos rose 6.2 per cent to 7.9 billion dollars in the first five months of 2011, the Central Bank of the Philippines said Friday. In the month of May alone, remittances totaled 1.69 billion dollars, up 6.9 per cent from 1.58 billion dollars in the same month last year.

The major sources of remittances in the period were the United States, Canada, Saudi Arabia, Britain, Japan, Singapore, the United Arab Emirates, Italy and Germany.

Read more at Monster and Critics