Remittances to Mexico Rise in August, Breaking 13 Months of Declines EFE
go to original October 2, 2013

A remittance store. (EFE)

MEXICO CITY - Remittances sent by Mexicans living abroad rose 1.1 percent to $1.91 billion in August, compared to the same month in 2012, marking the first rise in 13 months, the Bank of Mexico said Tuesday.

Mexico received $1.89 billion in remittances in August 2012, the central bank said in its monthly report.

The average remittance was $297 in August, down from the $304 registered in August 2012, the Bank of Mexico said.

The number of transactions, however, increased from 6.2 million in August 2012 to 6.4 million in August 2013, with the majority of remittances sent via electronic funds transfers, the central bank said.

Remittances totaled $22.44 billion last year, down 1.57 percent from 2011.

Remittances sent by Mexicans living abroad are the country's second-largest source of foreign exchange and help cover the living expenses of millions of people.

See the original at La Prensa

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