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El Salvador remittances fall 10 pct in Jan-Oct
Wednesday, 11 November 2009 20:20
Source: Reuters
By: Guillermo Mejia
SAN SALVADOR, Nov 10 (Reuters) - Remittances by Salvadoran migrant workers to relatives back home fell 10 percent in the first 10 months of this year compared to the same period a year ago, the central bank said on Tuesday.
Migrants sent home $2.8 billion from January to October, the bank said. The decline comes amid the U.S. recession.
Remittances from 2.5 million Salvadoran workers in the United States are the main source of foreign exchange inflows to the impoverished Central American country.