Remittances to Mexico Rise Over 5 Percent in First 10 Months of 2015 Agencia EFE
go to original December 1, 2015

Mexicans living in the U.S. tend to take advantage of spikes in the exchange rate to send more money home, benefiting recipients who get even more in peso terms. (FT.com)

Remittances sent to Mexico by emigrants totaled $20.69 billion in the first 10 months of 2015, up 5.39 percent compared to the same period last year, when remittances totaled $19.63 billion, the Bank of Mexico said Tuesday.

The average remittance was $294 in the January-October period, up slightly from the $293 average registered in the same period last year, the central bank said.

The number of transactions during the period totaled 70.45 million, with the majority of remittances sent via electronic funds transfers, the central bank said in a statement.

Mexico received $23.64 billion in remittances in 2014, a figure that was up 9.6 percent compared to 2013.

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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