Last year Peru received $2.7 billion in remittances, a figure that represents a 2.9 percent drop compared with 2012, the central reserve bank said in a report to which Efe had access Monday.

In the fourth quarter of 2013, the money sent home by Peruvian emigrants totaled $708 million, some $8.5 million less than in the same period of 2012, according to the report.

The central bank indicated that remittances with banks as intermediaries declined 2.8 percent in 2013, while those originating with money-transfer companies increased 3.1 percent.

During that period, remittances from Chile increased by 18.9 percent, while the amount coming from Argentina dropped by 21.5 percent, from Spain by 18 percent, from Japan by 11.8 percent, from Italy by 2 percent and from the United States by 1.8 percent.

The manager of capital raising, insurance and remittances at Interbank, Augusto Miro Quesada, said the sending of remittances goes in seasonal cycles, as during the Christmas season when it increases by some 20 percent. EFE