The database of the Central Reserve Bank (BCR) revealed that at the end of the first month of 2024, Salvadoran families received $594.1 million in remittances.
The BCR indicated that the main country from which remittances come is the United States, which allowed 94% of the total value to accumulate with $547 million, in second place is Canada with $6.8 million, Italy with $4.3 million, Spain with $4.1 million, and United Kingdom with $1.4 million.
In addition, a total of 1.8 million remittance operations were made, where 58.2% are through banking institutions, 37% by remittance companies, 2.8% in cash, 1.1% in digital cryptocurrency wallets, and 0.2 % through telephone recharges.
In that sense, the average monthly remittance that Salvadorans received was $317.1, which is why they indicated that 41% of the transactions received were less than $500. Also 19.6% ranged between $500 and $999.
Likewise, 32.9% were between $1,000 and $4,999; 0.4% were between $5,000 and $9,999; and 1.9% were greater than $10,000.
On the other hand, the departments that received the most remittances were the following:
- San Salvador $122 million.
- San Miguel $66 million.
- La Libertad with $51 million.
- Santa Ana with $47 million.
- The Union with $41 million.
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