RP remittances safe from ‘Brexit’ — HCBC

  • Jul 01, 2016

RP remittances safe from ‘Brexit’ — HCBC

TUESDAY, 28 JUNE 2016 – An official of banking giant HSBC is confident that Brexit will not greatly affect remittance inflows to the Philippines since the possible decline of inflows from UK can be countered by the strengthening of the greenback and its impact on the peso value of remittances.
In a yesterday, Herald van den Linde, head of HSBC’s Equity Strategy for Asia Pacific, said the bank foresaw a lower growth for UK given the developments in global economy.
And with the eventual exit of the UK from the 28-country economic bloc, Linde said this would have some impact on the UK economy.

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