Changes in remittance regulations

The Monetary Board instituted important changes in the regulations that affect remittances from overseas. According to El Caribe newspaper, the most important change is one that allows the person sending money to specify how the money is to be sent and in what currency it is to be delivered to the recipient. The measure also stipulates that if the currency is to be exchanged into pesos, the exchange rate will be that offered by the banks when they purchase dollars or other hard currencies.