Saturday, 23 September 2023 05:04

El Salvador received US$675.04 million in remittances in august 2023

Written by Leydin Sorto

Family remittances received by El Salvador totaled US$5,332 million in the period from january to august 2023, according to data published by the Banco Central de Reserva (BCR).

The amount of operations registered in august 2023 is US$675.04 million, which had a decrease of US$16.17 million compared to the previous month that registered US$691.21 million.

Remittances in august 2022 reached US$654.71 million, while in august 2023 they have reached US$675.04 million, reflecting an increase of US$20.33 million; which according to the BCR represents an interannual increase of 5.3%.

Billetes De Banco, Moneda

For the compilation of statistics on family remittances, the BCR's main sources of information are banks, the Federación de Asociaciones Cooperativas de Ahorro y Crédito de El Salvador (FEDECACES), the Federación de Cajas de Crédito and Bancos de los Trabajadores, FEDECRÉDITO, remittance companies with agencies in the country, exchange houses and other remittance disbursing companies.

Compras, En Línea, Comercio Electronico

The BCR also uses as a complementary source of information the results of the biennial survey of family remittance senders residing in the United States, through which remittances arriving in the country in cash are measured.


Translated by: A.M