The Philippine Stock Exchange Index (PSEi) extended losses on Thursday after July data showed just a modest increase in remittances from Filipinos working overseas. By the closing bell, the benchmark measure shed 0.11 percent, or 7.19 points, to 6,575.67 while the broader All Shares index slipped 0.009 percent, or 0.31 points, to 3,496.9. The Bangko Sentral ng Pilipinas said overseas Filipino worker (OFW) remittances in July rose 2.3 percent to $3.24 billion compared to the previous year. Experts warned the strong US dollar against the peso would not be enough to overcome price surges experienced by OFW beneficiaries in the Philippines. "Whatever gains OFWs and their families...
Keep on reading: PSEi down further as remittances post weak growth
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Keep on reading: PSEi down further as remittances post weak growth
from INQUIRER.net https://ift.tt/42fda7P
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