Remittances to Mexico Rise Nearly 4% in 2015 Agencia EFE
go to original August 4, 2015

According to experts, the depreciation of the Mexican peso against the dollar may contribute to the increase, because there is an incentive to send more money. (Joe Raedle/Getty Images)

Remittances sent to Mexico by emigrants totaled $12.08 billion in the first six months of 2015, up 3.98 percent compared to the same period last year, when they came in at $11.62 billion, the Bank of Mexico said.

The average remittance was $294 in the January-June period, unchanged from the average registered in the same period last year, the central bank said in a statement.

The number of transactions reached 41.05 million in the first six months of 2015, up 3.99 percent from the same period last year, with the majority of remittances sent via electronic funds transfers.

Mexico received $23.64 billion in remittances in 2014, a figure that was up 9.6 percent compared to 2013, when emigrants sent $21.89 billion to their homeland.

Remittances sent by Mexicans living abroad, mainly in the United States, are the country's second-largest source of foreign exchange, after oil, and help cover the living expenses of millions of people.

See the original at Fox News Latino

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