Thursday, 15 April 2010

Remittances to El Salvador Rise 8.7% in March

SAN SALVADOR – Remittances sent by Salvadorans living abroad – mostly in the United States – rose 8.7 percent in March, compared to the same month in 2009, to $343.2 million, El Salvador’s Central Bank reported.

“This is first positive rate observed since October 2008,” the Central Bank said.

Remittances last month were $27.2 million higher than in March 2009.

The increase in remittances was the result of the “positive influence of Holy Week,” the Central Bank said.

Remittances totaled $848.4 million in the January-March period, up 0.60 percent from the first quarter of 2009, “confirming the improving tendency,” the Central Bank’s economic research and statistics department said. Read more

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