Remittances Seen to Calm Markets, Support Peso
Cash from overseas Filipino workers (OFWs) will continue to serve as one of the main buffers of the Philippine economy from possible shocks caused by the shifting monetary policy settings in the United States.
According to Singaporean bank DBS, remittances from OFWs, which are the Philippines’ largest source of foreign exchange income, would serve as a calming influence amid volatile market conditions.
Source: Inquirer