In real terms, adjusting for the exchange rate and discounting the inflationary factor, remittances increased a 20.8% annual rate in February, BBVA reported.

The bank explained that in January and February over US$6,7 billion was collected in the country, 1,118 more compared to the US$ 5,3 billion of the same period of 2020, an increased 20%.

According to the BBVA report, improved economic conditions in the United States allowed Latin American people´s employment to have gradually recovered since the beginning of the Covid-19 pandemic, even at a faster rate than the national average.

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