LatinNews Daily - 21 September 2022

In brief: El Salvador’s remittances up

* El Salvador’s central bank (BCR) has released new figures which show remittances sent to El Salvador totalled US$5.06bn in the first eight months of 2022, up 3.6% on the same period in 2021. In August alone, remittances totalled US$650m, up 5.7% on August 2021. As regards source countries, the US represented 93.8% of the total followed by Canada (0.9%), Spain (0.4%), Italy (0.3%) and the UK (0.1%). As regards how they were sent, 34.4% were sent via banking institutions; while other institutions used for the payment of remittances represented 62.0% of the total. Digital transactions through cryptocurrency accounted for 1.7% of the total while transactions through mobile telephones accounted for 0.3%.

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