For the fourth month in a row, remittances have increased by double digits compared to the same month in 2019. This is a major plus in these Covid-19 times when foreign exchange levels suffer from the collapse of the tourism industry. Tourism revenues are estimated to have declined more than US$3.5 billion from January to August 2020.
The Central Bank of the Dominican Republic reports that remittances were US$769.9 million as of August 2020, 22.5% more than for the same month in 2019.
This value includes pocket remittances of US$37.9 million, those brought by Dominican travelers from abroad, who were among the first to come after airports reopened on 1 July following the shutdown in March.
The Central Bank highlights that for the period January-August 2020 the flow of remittances that has entered the country reached US$5,072.5 million. This is US$346.4 million (7.3%)...
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