Dominican Remittances Rise 6.5% to US$9.49 Billion

DOMINICAN REPUBLIC · ECONOMY

Money sent home by Dominicans abroad, most of them in the United States, keeps growing at a steady pace in 2026.

Dominican remittances reached US$9.49 billion from January to September 2026, up 6.5% on a year earlier. The Banco Central de la República Dominicana, the country’s central bank, published the figure on Sunday, 11 October.

The United States is by far the largest source of the money. For US readers, the data track a large Caribbean diaspora and a key dollar flow into a close trading partner.

What the Central Bank Reported

The nine-month total of US$9,489.8 million was US$577 million higher than in the same period of 2025. A year earlier, the central bank had reported US$8,912.8 million for January to September.

In September alone, inflows reached US$1,057.1 million, up 6.6% on September 2025. That was below August, when the central bank counted US$1,116.3 million.

The pace matches the trend of earlier months. In its August report, released on 17 September, the bank put January to August growth at 6.5% as well.

No market consensus forecast was published for the monthly figure. The central bank’s own projection is about US$12.6 billion for the full year 2026.

Where the Money Comes From and Goes

Senders in the United States transferred US$780.1 million in September, the central bank said. It put that at 80.9% of the formal transfers channelled that month, a narrower base than the US$1,057.1 million total.

Spain came second with US$59.9 million, or 6.2%. Italy followed with 1.3%, Haiti with 1.2% and Switzerland with 1.1%.

Inside the country, the Distrito Nacional, the capital district of Santo Domingo, received 51.2% of the money. Santiago, the second city, took 9.5%, and Santo Domingo province 6.6%.

Why Remittances Matter for the Peso and Reserves

The central bank said the inflows support a stable exchange rate and stronger international reserves. Reserves closed September at US$15,239.9 million, according to the same report.

At about 60.5 Dominican pesos per US dollar, the nine-month total equals roughly DOP 574 billion. The rate used is the open-market reference of 11 October 2026.

Remittances rank with tourism and exports as a main source of dollars for the economy. Most of the money pays for household spending, which supports retailers and banks across the island.

What It Means for You

For investors in Dominican dollar bonds, steady remittances are a sign of reliable foreign-currency income. They also help explain why reserves stay above US$15 billion.

For Dominican families in the United States, the data show money keeps flowing despite tighter US immigration enforcement. Since 1 January 2026, the IRS says, a 1% tax applies to remittances paid in cash, money orders or cashier’s checks.

Transfers funded from a US bank account or card are not covered by that tax. The central bank’s report does not say whether senders have shifted channels because of it.

What Is Not Known

The central bank’s full release confirms the total, the September figure and the country and provincial shares. It does not say how the money split between cash and digital channels.

The release does not explain why September fell below August. It is also unclear how much of the US share went through informal channels outside the official count.

What Comes Next

The central bank usually publishes October remittance data in mid-November. Reaching the US$12.6 billion projection would need about US$1.04 billion a month in the final quarter.

That pace is slightly below September’s level. A small dip in one month does not mean the yearly trend has turned.

Frequently Asked Questions

How much money did Dominicans abroad send home in 2026 so far?

The central bank counted US$9,489.8 million from January to September 2026. That is 6.5% more than in the same months of 2025.

How much came from the United States?

In September, US$780.1 million came from the United States, according to the central bank. Spain was second with US$59.9 million.

Does the US remittance tax apply to transfers to the Dominican Republic?

Yes, the IRS says the 1% tax covers remittances to any country paid in cash, money orders or cashier’s checks. Transfers funded from US bank accounts or cards are exempt.

What does the central bank expect for the full year?

The central bank projects remittances of about US$12.6 billion in 2026. October data are expected in mid-November.

Sources: Banco Central de la República Dominicana, remittances January–September 2026; RNN; elDinero, January–August 2026 data; El Día, January–September 2025 data; Internal Revenue Service, remittance transfer tax (IR-2026-48) (all accessed 11 October 2026).