The News
Wednesday 29 of May 2024

Remittances Increased 18.76 Percent in January

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Remittances arriving in the country reached more than $1.9 billion in the month

In January, remittances arriving in the country reached more than $1.9 billion, an amount up 18.76 percent compared with the same month in 2015, the Bank of Mexico reported.

In line with the estimate for the financial consensus, monetary shipments to the country from Mexican migrant flight resumed after last December had a lower annual increase after 10 months of consecutive increases.

Of total remittances to the first month of 2016, $1.9 million arrived in the country through electronic transfers, a total of 19.80 percentage points higher than the same month the previous year; while $40.26 million in cash was sent, a figure 0.36 percent lower over January 2015.

Also, $15.7 million touched Mexican territory in money orders, 23.11 units below the $20.42 million was recorded in January than the previous year.

According to most financial analysts, the flow of remittances will continue with an increasing rise with the positive effect of lower unemployment in the United States where Mexican migrants earn the remittances, and the appreciation that the dollars registered at its intersection with most currencies.