Bloomberg reported earlier this month that remittances sent to Mexico reached another record in August, a “sign that contributions from workers in the U.S. continue to help Latin America’s second-largest economy while its recovery remains uneven.”
The news agency said that money sent to Mexico from abroad hit $4.74 billion in August, a record which they attribute mostly to the US economic recovery, which they say is fueling migrants sending more money home.
Additionally, Bloomberg noted that each transfer averaged $387 in August, per data from Mexico’s central bank, and they say August’s robust remittance number implies a 4.5% increase from July, which was the previous record.
This article was written by Rafael Gayol and Maya Averbuch and originally published on Bloomberg. A subscription may be required.
