EconomyFinancialRemittances increased in August... but their growth is slowing...

Remittances increased in August… but their growth is slowing down

Last August , remittances that arrived in Mexico totaled 5,122 million dollars, an annual increase of 7.8%, according to data from the Bank of Mexico (Banxico).

However, in the monthly comparison, against last July, income from remittances had a contraction of 3%.

This is the fourth consecutive month in which remittances arriving in Mexico exceed 5,000 million dollars.

The average amount of the remittance sent in August was 390 dollars, an amount below the 406 dollars that were sent on average during July.

In the accumulated from January to August, remittances reported an amount of 37,934 million dollars, 15.2% more than in the same period of 2021.

Ualá clients will be able to receive up to 900 dollars in remittances

The firm forms an alliance with MoneyGram so that its clients can receive remittances from abroad in the app.

The cost of migrating: Number of dead migrants in Mexico increases 70.4% in 2021

Despite the fact that remittances arriving in Mexico register record figures, the number of migrants who die in their attempt to reach the "American dream" reported figures never seen before.

Historical record: Mexico receives 5,297 million dollars in remittances

Money transfers by remittances to Mexico register a record and add three consecutive months above 5,000 million dollars.

Western Union? More than 5% of total remittances from the US are sent to...

Bitso registers a participation of more than 5% weekly in the total remittances from the US to Mexico and expects that by the end of the year the figure will rise to between 8 and 10%.

Why 2023 could be a bad year for remittances from Mexico

Despite record numbers of remittances sent by Mexicans from abroad, annual growth rates have shown a slowdown that may worsen with a recession in the US.