Peru remittances totaled US$564 million in 2Q 2009

Remittance flow sent by Peruvians overseas to their relatives in Peru totaled US$564 million in the second quarter of this year; this is the highest amount so far this year, Central Reserve Bank of Peru (BCR) reported Sunday.

BCR added that those remittances of Peruvians who live abroad represented an increase of 5.2 percent in relation to the previous quarter this year.

Remittances from United States rose 3.4 percent in second quarter in relation to the previous quarter.

While remittances from other countries grew by 6.5 percent in the same period.

During second quarter of this year, remittance intermediation by banks rose 10.4 percent.

In second quarter, 44 percent of remittances were intermediated by banks, while 40 percent by Exchange Traded Fund (ETF).

BCR added that total remittances sent to Peru in 2008 amounted to US$2.43 billion, figure that represented a 14.4 percent growth in relation to the previous year.

Publication: Andina - English Newswire
Provider: Andina
August 30, 2009

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