Remittances slow in April

MONEY sent home by overseas Filipinos (OFs) slowed in April to a near one-year low, Bangko Sentral ng Pilipinas (BSP) data showed on Monday. Personal remittances, which include cash sent through banks and informal channels, dropped 5.2 percent to $3.04 billion from $3.2 billion a month earlier but were 2.1 percent higher than the year-earlier $2.97 billion. The 11-month low — overall remittances further fell to $2.91 billion in May last year — saw the year-to-date total hit P12.7 bil