In August, a value of US$1,116.3 million was recorded, 6.7% more than the same month in 2025, exceeding the US$1 billion threshold for the sixth time so far in 2026
SANTO DOMINGO– The Central Bank of the Dominican Republic (BCRD) reported that remittances received between January and August 2026 reached US$8,432.7 million, reflecting an increase of US$511.7 million, or 6.5%, compared to the same period in 2025. Specifically, US$1,116.3 million was received during the month of August, an amount that exceeds the figure reported in August 2025 by US$69.7 million (6.7%) and the figure reported in July 2026 by US$19.2 million (1.8%).
The entity specified that the growth in August occurred despite the complex international environment that currently prevails, given the persistence of conflicts in the Middle East, which have raised the prices of oil and its derivatives, generating greater inflationary pressures and reducing the disposable income of households.
The Central Bank of the Dominican Republic (BCRD) highlights that this dynamic is primarily due to remittances from Dominicans residing in the United States, which accounted for 80.8% of formal deposits received in August, totaling US$805.6 million. This scenario is closely linked to the performance of the U.S. economy. Specifically, the Institute for Supply Management's (ISM) non-manufacturing Purchasing Managers' Index (PMI) stood at 55.4 in August, demonstrating the continued expansion of the services sector, which employs a significant proportion of the Dominican workforce in the U.S. Furthermore, the overall unemployment rate in the United States remained at 4.1% in August 2026, the same level as in July 2026, reflecting an increase of 162,000 new jobs.
Countries that dominate shipments
The institution highlights the influx of remittances through formal channels from other countries during August. In this regard, Spain reported transfers totaling US$66.6 million, representing 6.7% of the total volume. This solidifies its position as the second largest source of remittances, corresponding to the size of the Dominican community residing in that country. Italy followed, contributing 1.4% of the total, then Haiti with 1.2%, and Switzerland with 1.1%. The remaining flows were diversified among countries such as France, Canada, and Germany, among others.
Regarding the geographical distribution of remittances, the Central Bank of the Dominican Republic (BCRD) indicates that the National District received 50.7% of the inflow in August, followed by the provinces of Santiago and Santo Domingo, with shares of 9.5% and 6.8%, respectively. These figures demonstrate that the country's metropolitan areas concentrated more than two-thirds (67.0%) of the total resources received during that month.
These foreign currency inflows have contributed to the current relative exchange rate stability, such that, as of August 31, 2026, the national currency appreciated 7.6% against the US dollar compared to December 2025. These increased external flows also allow for maintaining an adequate level of international reserves, which at the end of August stood at US$15,434.2 million, representing 10.6% of GDP and covering approximately 5.6 months of imports, indicators above the thresholds recommended by the IMF.
The Central Bank of the Dominican Republic's (BCRD) most recent outlook for the external sector anticipates continued positive growth in foreign exchange earnings throughout 2026. Specifically, tourism revenues are projected to exceed US$12.2 billion, while remittances are expected to reach approximately US$12.6 billion. Total exports are estimated to surpass US$17.2 billion, and foreign direct investment (FDI) is projected to exceed US$5.3 billion. The dynamism of these flows, combined with other service exports (approximately US$3.3 billion), is expected to result in total foreign exchange earnings exceeding US$50.7 billion by the end of 2026.
