Latest news and articles about remittances from NEX English
Reports indicate that over <strong>40,000 Filipinos</strong> intending to work in Middle Eastern countries, including <strong>Israel</strong> and <strong>Lebanon</strong>, are currently stranded due to the ongoing conflict. A shortage of available flights has significantly impacted these workers' ability to leave the country.
The Philippine peso has significantly declined to 61 against the US dollar due to the deterioration of Asian currencies amid ongoing crises in the Middle East. This drop comes at a sensitive time when global markets are experiencing substantial volatility.
Lebanon faces a severe economic crisis as remittances from expatriates have plummeted from <strong>$600</strong> to <strong>$200</strong> monthly. This decline reflects the war's impact on the financial situation of many Lebanese families.