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Latino Daily News

Sunday August 3, 2014

Remittances to Mexico Rise by 7.3 Percent in Early 2014

Mexico received $11.62 billion in remittances in the first half of this year, up 7.3 percent from the same period of 2013, the country’s central bank said.

The median amount per remittance in the first six months of 2014 was $294.49, compared with $295.39 in January-June 2013, the Bank of Mexico said Friday.

Most of the 39.46 million transactions between January and June took the form of wire transfers.

Remittances to Mexico totaled $21.89 billion last year, a decline of 3.8 percent from 2012.

Remittances, mostly from expatriates living in the United States, are Mexico’s second-largest source of foreign exchange after oil exports and help cover living expenses for millions of households.

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