The latitudinal distribution of the equatorial height-integrated current density has been obtained from available experimental data and correlated with the latitudinal distribution of the horizontal component of the daily geomagnetic variations to determine the importance of the internal part of the electrojet field. A simple method is introduced that makes it possible to analyze the importance of the internal electroject field and simultaneously to separate the planetary field. Contradicting what has been assumed in recent works and confirming earlier results, it has been found that the current induced in the earth by the electrojet contributes significantly to daily geomagnetic variations at South American longitudes.