The Personal Finance section of the Inquirer Money has this piece of advice for OFWs and their families on how to cope with the lowering value of their dollar remittances.
Question: My husband’s $1,000 used to give us P55,000; now it only amounts to P41,000. I’m having difficulty making ends meet and paying all our bills. [...]

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Here’s an interesting read…
Money Smarts, where people can talk freely about personal finance, business, financial independence, the economy and my personal favorite, giving the rat race a kick on the butt. INQUIRER.net business editor Salve Duplito has the floor, but you can freely ask questions and take the mic.
Visit Money Smarts at http://blogs.inquirer.net/moneysmarts/
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Sphere: Related [...]

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Here is the last of three excerpts on the study: “Enhancing the Efficiency of Overseas Workers Remittances”
Remittance Trends in the Philippines

Competitive Market: Formal remittance market between the Philippines and remitting countries is competitive and dominated by commercial banks.
Decreasing Costs: With the entry of more players and new technology-based products(e.g. cell phones, debit cards), remittance costs [...]

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More results from the ADB study entitled: “Enhancing the Efficiency of Overseas Workers Remittance”
General issues raised in measuring remittances include:

Lack of common definitions for overseas worker population
Lack of common methodologies of measurement
Lack of common definitions for formal and informal
Lack of data on transfers through informal channels
Importance of field surveys to supplement and capture data [...]

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A study was conducted by ADB Philippines: “Enhancing the Efficiency of Overseas Workers Remittances”.
The study covered topics like OFW Remittance behaviours, Issues raised for measuring remittances and challenges ahead, Remittance trends. Although the study was conducted in 2005, it’s good to review at this time to see how much progress we’ve made.
Here are excerpts of [...]

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Landbank and Smart have a partnership that allows OFWs to send remittances via a Smart Cellphone while the recipient withdraws the remittance via Landbank cash cards, all in an instant. Ayos!
[June 7, 2007/ Manila] - Overseas Filipino Workers (OFWs) will soon enjoy the benefits of a faster and more efficient mode of sending money [...]

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