Manila, March 3 -- The government is studying the possible impact of the dollar-peso exchange rate on the remittances of overseas Filipino workers (OFWs), President Ferdinand R. Marcos Jr. said Tuesday amid the conflict involving the United States (US) and Israel with Iran.

"The other area that we look into are what will be the effect on the remittances because this is something that will affect the families of those that are remitting funds from our workers in this part of the world," Marcos said in a press conference at Malacanan Palace in Manila.

Marcos admitted it is "very hard to make an estimate" on the possible effects of the escalating tensions in the Middle East on OFW remittances.

He said around 80 to 85 percent of overseas F...