{"id":199619,"date":"2023-06-14T06:15:03","date_gmt":"2023-06-14T10:15:03","guid":{"rendered":"https:\/\/dr1.com\/news\/?p=199619"},"modified":"2023-06-14T07:19:34","modified_gmt":"2023-06-14T11:19:34","slug":"remittances-up-for-the-first-five-months-of-the-year","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2023\/06\/14\/remittances-up-for-the-first-five-months-of-the-year\/","title":{"rendered":"Remittances up for the first five months of the year"},"content":{"rendered":"\n
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The Central Bank (BCRD) reports that from January to May 2023 remittances are 2.9% more than for the same period in 2022. The Central Bank reports that for the first five months of 2023, the Dominican Republic has received US$4.17 billion in remittances. The BCRD attributes the increase to the low unemployment in the United States source of 85.4% of remittances.<\/p>\n\n\n\n

The country received US$881.1 million in May 2023, a 3.5% increase over May 2022. This is the fifth month with an increase in remittances this year. In May, US$679.3 million entered from the United States. Spain is the second source of remittances, with US$44.5 million, or 5.6% of the total. Haiti, Italy, Switzerland, Canada and Panama are other countries with large Dominican expat communities.<\/p>\n\n\n\n

The Central Bank says that 57.7% of the remittances are received by persons living in metropolitan areas of the National District (35.2%), Santiago (14%) and Santo Domingo province (8.5%).<\/p>\n\n\n\n

The Central Bank is bullish on remittance flows, product and services exports, tourism revenues and foreign direct investment to continue strong throughout the rest of 2023.<\/p>\n\n\n\n

\u201cThese foreign currency inflows will continue to influence the relative stability of the exchange rate currently observed, such that at the end of May the national currency appreciated by 2.9% with respect to the end of 2022,\u201d reports the Central Bank in a press release.<\/p>\n\n\n\n

The institution highlights that the greater flow of external revenues also allowed the accumulation of international reserves, which at the end of May exceeded US$16.1 billion. This level represented 13.2% of the GDP and 6.0 months of imports, above the thresholds recommended by international organizations.<\/p>\n\n\n\n

Read more in Spanish:
Central Bank <\/a><\/p>\n\n\n\n

June 13, 2023<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank (BCRD) reports that from January to May 2023 remittances are 2.9% more than for the same period in 2022. The Central Bank reports that for the first five months of 2023, the Dominican Republic has received US$4.17 billion in remittances. The BCRD attributes the increase to the low unemployment in the United … <\/p>\n

Read more\u2026<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[319,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/199619"}],"collection":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/comments?post=199619"}],"version-history":[{"count":5,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/199619\/revisions"}],"predecessor-version":[{"id":199680,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/199619\/revisions\/199680"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=199619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=199619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=199619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}