Mexico's Feb. Remittances Up 8.6% Year-Over-Year Anthony Harrup - MarketWatch
go to original April 3, 2012

MEXICO CITY - Remittances from Mexicans living abroad rose 8.6% in February from the year-ago month to $1.79 billion, continuing their recovery as the U.S. economy and labor market improves, according to central bank data.

The Bank of Mexico said Monday that February's remittances brought the total for the first two months of the year to $3.29 billion, a 7.9% increase from the like period of 2011.

Remittances are a major source of dollar revenue, bringing in less than oil exports but more than foreign tourism. Surpluses in transfers also contribute to keeping Mexico's current account deficits at low levels.

Flows have been recovering with improvements in the U.S. labor market, but have yet to get back to the record levels seen before the 2008-09 crisis. Remittances were a record $26 billion in 2007.

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!