The Central Bank reports that expats sent home remittances for more than US$6.49 billion in 2018. That is US$582.3 million more than in 2017 for a 9.8% increase. Remittances in 2017 were US$5.91 billion. Dominicans received US$66% in US currency and 34% in Dominican pesos.
Those receiving the remittances reported living in the province of Santo Domingo and the National District (41.4%), Santiago (14.9%), Duarte – San Francisco de Macoris (5.3%), and La Vega (4.2%).
Remittances flowed from the United States, Spain, Italy, Haiti, Puerto Rico, Panama, and Switzerland, primarily.
The peak months for sending remittances are March, July and December.
The Central Bank says that 76.1% of the remittances are transferred by remittance companies, and 23.9% by banks.
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Diario Libre
18 February 2019
