Remittances top US$5.6B to June

.Santo Domingo.-The Central Bank of the Dominican Republic (BC) reported yesterday that between the months of January and July 2022, the remittances received reached a 6  billion dollars, this amount exceeds the flow of remittances in the first seven years by 1. 5 billion dollars. months of 2019, the period prior to the start of the COVID-19 pandemic.

It highlighted that in the month of July this year, remittances totaled 808.6 million dollars. “These figures reaffirm the establishment of a new level of monthly remittance flows of around 800.0 million dollars. In that sense, when comparing this amount of July 2022 with the value averaged in the same month for the period before the 2015-2019 pandemic, which was 533.1 million dollars.”

The regulatory entity indicated that when comparing the flows received as of July 2022 with those of the same period in 2021, a reduction of about 490 million dollars is observed and attributes it to the fact that in the United States before the pandemic they did not yet have the schemes of aid that were implemented after March 2020 and ended in September 2021.