Dominicans set remittance record of US$2.5B in 1Q
Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) on Fri. said that in March 2021 remittances reached US$994.9 million, or US$474.8 million more than in March 2020.
This means that for the first quarter US$2.5 billion in remittances were received, a growth of 49.6% compared to the same period of 2020, and 46.2% compared to the first quarter of 2019.
US economic rebound
“The increasingly favorable economic conditions in the United States, the country where 87.0% of the flows in March came from, continues to be the main factor that has influenced the behavior of remittances,” the Central Bank adds.