The institution indicates that this dynamic is mainly due to transfers made by Dominicans residing in the United States
SANTO DOMINGO– The Central Bank of the Dominican Republic (BCRD) reported that remittances received in the country totaled US$7,316.4 million during the first seven months of 2026, reflecting an increase of US$442.0 million, or 6.4%, compared to the same period in 2025. Specifically, US$1,097.1 million entered the country in July, exceeding the figure reported for the same month in 2025 by US$49.3 million. This performance represents a year-on-year increase of 4.7%, thus maintaining the upward trend observed throughout the year.
The governing body highlights that growth in July occurred despite the complex international environment currently prevailing. The persistence of conflicts in the Middle East has driven up oil and petroleum product prices, generating greater inflationary pressures and reducing household disposable income.
The institution notes that this trend is primarily due to remittances from Dominicans residing in the United States, which accounted for 81.4% of the formal remittances received in July, totaling US$814.7 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 54.1 in July, 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 was 4.1% in July 2026, lower than the 4.2% recorded in June 2026, despite the loss of 23,000 jobs during that period.
Through formal channels
Similarly, the Central Bank of the Dominican Republic (BCRD) highlights the inflow of remittances through formal channels from other countries during July. In this regard, Spain reported transfers totaling US$65.9 million, representing 6.6% 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%, and Haiti and Switzerland each accounted for 1.2%. The remaining flows were diversified among countries such as France, Canada, and Germany, among others.
Where more arrived
Regarding the geographical distribution of remittances, the Central Bank of the Dominican Republic (BCRD) indicates that the National District received 50.4% of the inflow in July, 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 (66.7%) of the total resources received during that month.
The Central Bank statement indicates that these foreign currency inflows have contributed to the current relative exchange rate stability, such that, as of July 31, 2026, the national currency appreciated 8.0% against the US dollar compared to December 2025. These increased external flows also allow for maintaining an adequate level of international reserves, which stood at US$15,253.0 million at the end of July, representing 10.8% of GDP and covering approximately 5.5 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$11.9 billion, while remittances are expected to surpass US$12.2 billion. Total exports are estimated at around US$17.3 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$3.2 billion), is expected to result in total foreign exchange earnings exceeding US$50.2 billion by the end of 2026.
The Central Bank reaffirms its commitment to monitoring the current economic environment in order to continue taking the necessary measures to mitigate the impact of the challenging international landscape on the Dominican economy, thereby ensuring price and exchange market stability.
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