Jan.-July OFW remittances top $10B for the first time

Money sent home by Filipinos abroad topped $10 billion, up by 7.1 percent in the first seven months of the year on unabated worldwide demand for manpower, Bangko Sentral ng Pilipinas Gov. Amando Tetangco Jr. reported Wednesday.

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I personaly reckon that if all OFWs would stop sending remittance home for at least 3/4 months, the Peso would lose ground in favour of other currencies and then the exchange rate would be more favourable allround.

It is the vast amounts of money sent back that props the Peso up against other currencies and not any GDPs or whathaveyou...

But would anyone stop sending money back to Pinas?

Can you just imagine the amount and variety of sob stories dished out if the OFWs witheld the remittance...???