Remittances to Mexico drop

Mexico City, April 2 : Mexico received USD 1.58 billion in remittances in February, 11.1 percent below the amount recorded in the same month of 2012, the country's central bank said.

This was the eighth straight month in which remittances declined on an inter-annual basis.

In the second month of 2013, the average remittance was USD 293.17, less than the USD 320.34 in February of 2012, the Bank of Mexico said in its monthly report Monday.

In February, 5.4 million transactions were recorded, most of them electronic transfers.

Remittances to Mexico totaled USD 22.45 billion last year, a decline of 1.57 percent from 2011.

Remittances from expatriates are Mexico's second-largest source of foreign exchange after oil exports and help cover living expenses for millions of households.

Most of the money is sent from the US, where an estimated 12 million Mexicans live, about half of them undocumented migrants.

--IANS (Posted on 02-04-2013)

world-news headlines

Egyptian court jails former presidential candidate for seven years

120 Egypt Muslim Brotherhood supporters get 3 years in jail

Sikhs allowed to carry kirpans in Canadian missions

Spooky Italian island up for sale!

Upper house eases citizenship norms for Russian speakers

Bolt planning to smash his world records

Three killed in Palestine while making bomb

Five dead, three missing in China chemical plant blast

Musharraf's treason case hearing adjourned till April 24

Two dead, 293 missing as ship sinks off South Korea

Indian election elicits keen interest in Pakistan (Election Special)

Atletico Mineiro call off Anelka pursuit

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top