Cash Transfers from Mexicans Overseas Rise Sharply Agence France-Presse
go to original May 2, 2014

MEXICO CITY - Remittances to Mexico from its citizens overseas - mostly in the US - rose a brisk 16 percent in March, the central bank said Friday, the biggest increase in two-and-a-half years.

The numbers are seen as another sign of an improving US economy, since it suggests Mexicans living - illegally and legally - in the United States are finding employment more easily, and that their jobs pay enough to allow them to send money back home.

Mexicans wired $2.0 billion home in March, compared to $1.7 billion in the same month a year earlier.

Mexico's central bank said it was the eighth consecutive monthly rise in money transfers, and the biggest jump in remittances since September 2011.

Remittances are the third most important source of income for Mexico, after oil and tourism.

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