Remittances reverse March decline, up 4.35% in April

Monday, May 16, 2011

Remittances to El Salvador shook off the slight year-on-year decline seen in March and increased 4.35% in April, as well as continuing to show solid growth in the year to end-April, according to the latest figures from central bank BCR.

Salvadorians living abroad sent home US$309mn in April, compared to US$296mn in the same month in 2010. However, remittances declined 7.84% from March.

Overall for the first fourth months of the year, remittances grew 4.48% to US$1.18bn, BCR figures show.

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