{"id":11006,"date":"2024-12-16T13:13:29","date_gmt":"2024-12-16T13:13:29","guid":{"rendered":"https:\/\/dmklawyers.com\/?p=11006"},"modified":"2024-12-16T13:54:58","modified_gmt":"2024-12-16T13:54:58","slug":"bcrd-remittances-reach-us9-75-billion","status":"publish","type":"post","link":"https:\/\/dmklawyers.com\/en\/bcrd-remittances-reach-us9-75-billion\/","title":{"rendered":"Remittances amount to US$9.7525 billion in November, and tourism is expected to contribute over US$10 billion in 2024"},"content":{"rendered":"\n

Here\u2019s the translated text:<\/p>\n\n\n\n

\n\n\n\n

From January to November 2024, remittances amounted to US$9.7525 billion, an increase of US$540.3 million (5.9%) compared to the same period last year. Additionally, tourism revenues are projected to exceed US$10 billion this year, according to the Central Bank of the Dominican Republic (BCRD).<\/p>\n\n\n\n

The institution reported that in November alone, US$840.8 million in remittances were received, marking a year-over-year increase of 6.7%.<\/p>\n\n\n\n

The BCRD explained that the economic performance of the United States was a key factor influencing remittance flows. In November, 81.3% of formal remittance flows\u2014equivalent to US$652.1 million\u2014originated from the United States.<\/p>\n\n\n\n

Analyzing recent developments in the external sector, the BCRD projects a significant inflow of foreign currency by the end of 2024, amounting to over US$34 billion. This figure includes tourism revenues of approximately US$10.7 billion and a similar amount from remittances.<\/p>\n\n\n\n

Furthermore, estimates for year-end point to foreign direct investment (FDI) flows exceeding US$4.5 billion. These foreign currency inflows contribute to maintaining the relative exchange rate stability currently observed.<\/p>\n\n\n\n

The institution emphasized that higher external revenues have also allowed for an adequate level of international reserves, which, as of November 2024, reached US$13.0904 billion. These reserves cover approximately five months of imports and represent 10.5% of GDP, surpassing the thresholds recommended by the IMF.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s the translated text: From January to November 2024, remittances amounted to US$9.7525 billion, an increase of US$540.3 million (5.9%) compared to the same period last year. Additionally, tourism revenues are projected to exceed US$10 billion this year, according to…<\/p>\n","protected":false},"author":9,"featured_media":11004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-11006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"\nRemittances amount to US$9.7525 billion in November, and tourism is expected to contribute 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