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Remittances have a historic October with 5,811 million dollars – El Sol de México

In October, the flow of remittances to the country recorded an amount of five thousand 811.5 million dollarsthe highest monthly amount since records were recorded in nineteen ninety fiveaccording to data from Bank of Mexico (Banxico).

The figure reported by Banxico It also represented an increase of 8.4 percent compared to the same month of 2022, when remittances were recorded by five thousand 361 million dollars.

Since the middle of the year, financial analysts from BBVA Mexico They explained that the flow of remittances would be conditioned by the labor dynamics and immigration policies of the United States.

The above, despite the fact that the appreciation of the peso over the dollar could reduce the real amount of resources collected by Mexicans.

By the end of 2023, the expectation is that remittances will exceed 60 billion dollarswhich would also be a historic figure.

According to the data of BanxicoIn October alone there was an average shipment of 397 dollars, three percent higher than what was observed in the same month of 2022.

When considering shipments of nationals between January and October, The central bank reported a flow of 52 thousand 888.2 million dollarsthe equivalent of an annual rebound of 1.3 percent and the highest figure for the same period since records have been recorded.

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Most of the resources were sent through digital means, although shipments by checks, cash or in kind were also recorded, which is when compatriots send clothing, shoes or other physical items to their relatives.

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