March 18, 2010 Manila, Philippines
OFWs in revolt due to peso rise, mulling cut in remittances
PUBLISHED ON August 6, 2007 AT 8:15 PM ·
Overseas Filipinos are up in arms because of the appreciation of the peso and are now considering, according to this GMANews.tv report, reducing their remittances to the Philippines in order to “show some muscle” and impress on the Philippine government that they have had enough. The OFWs want to peg the exchange rate for these remittances to P50 to the $1.
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