Ecuador: Remittances from abroad down due in part to depreciation of euro

Giovany Astudillo/elcomercio.com reported Ecuador received US $ 1 742.1 million between January and September 2015, according to a report by the Central Bank of Ecuador. This represents a reduction of 112.8 million over the same period of 2014. In the first nine months of that year arrived US $ 1 854.9 million. The main cause of the decline is due to the depreciation of the euro against the dollar and the economic situation of the countries where they reside Ecuadorians as Spain and Italy, as reported by the Central Bank of Ecuador. In this reporting period, only the resources that came from the United States experienced growth and increased from USD 936 million to USD 969 million, when comparing the January-September period of 2014 and 2015, in that order. Such behavior is linked to improving economic conditions in the United States, which is the main destination for migrants from Azuay and Canar. Read Article

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