Remittance income drops in January – El Sol de México

State income from remittances slowed in January to a monthly rate of 17 percentthe Bank of Mexico (Banxico) reported on Tuesday.

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In the first month of the year, Mexicans living abroad sent their families back to the country Three thousand and 930 million dollarsThis is about 830 million less than what was recorded in December.

About The lowest monthly level in sending remittances since February last year And the first time in 11 months that the amount has been determined Less than four billion dollars.

The slowdown in remittances reflects lower savings in the United States, the main country from which Mexicans send resources into the country, due to The effect of the highest inflation rate in that country in four decades.

However, the captured number means a By 19.6% compared to January 2021 And the highest amount for the first month of the year since the central bank has records.

Bankxico reported that 98.5 percent of remittances from abroad were made through electronic transfers.

The Central Bank report indicated that the cumulative flow of income from remittances during the past 12 months amounted to 52 thousand and 229 million dollars, higher than the cumulative 12-month period recorded in December, which amounted to 51 thousand and 586 million dollars.