Apparently because of the boycott called by overseas Filipino workers in the first week of November, remittances from the United Arab Emirates dropped by 40.3 percent to $27.85 million, from $46.7 million in November.
Quoting a source from the Dubai foreign exchange center, Khaleej Times reported on Sunday that the decrease in the month remittances was unusual considering that it was already the start of preparations for the Christmas holidays.The report said the drop was also because of the continued appreciation of the dirham against the US dollars. [Read more]
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