Mexico received a record US$ 4.41 billion in remittances during the first bimester
Mexicans living abroad sent US$ 4.41 billion in remittances to the country during the first two months of 2018, which represented a 7.2% increase and a record for that period, according to the Bank of Mexico (Banxico). Only in February, remittances grew by 6.8% to US $ 2.2 billion.
Banxico reported that during February 2018, 7.28 million operations were carried out and that the average value of remittances was US$ 304 each, a figure that, to date, amounts to MXN 5,563 (Mexican pesos).
One of the forms of payment that continued to expand was the money orders because immigrants do not need to have a bank account to make a monetary transaction. The annual growth of this method of sending dollars to Mexico increased 4.97% during February. During 2017, remittances amounted to a record of US$ 28.7 billion.