LatinNews Daily - 16 March 2023

In brief: Remittances to the Dominican Republic continue to rise

* The Dominican Republic’s central bank (BCRD) has reported that remittances to the country totalled US$1.56bn between January and February, which represents an increase of 3.9% compared to the same period last year. Remittances in February totalled US$764.3m, an increase of 2.1% compared to February 2022, while remittances in January equalled US$802m, up 5.6% on the previous year. February marked the fifth consecutive month of yearly increases, continuing the path of growth observed since the beginning of the last quarter of 2022. According to the BCRD, the economic performance of the US was one of the main factors that influenced the solid inflow of remittances, with 84.9%, or around US$558.5m, of remittances in February coming from the country.

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